How can a person save the magic of Christmas from the grim reality of a wrecked economy? With a little planning, gift-givers can spend money wisely, enjoy the holidays, and still stay afloat financially. Here are 10 ways to cut costs this Christmas.
1. Establish a Price Limit. Establishing a price limit means gift-givers know when a person is taken care of. There is no pressure to keep buying and buying, which saves time and money. It also avoids awkward exchanges of unevenly priced presents. Set and stick to a limit.
2. Establish Gift-Giving Ground Rules. While some may opt out of gift exchanges altogether, there are less extreme measures of cutting costs. In fact, there are all sorts of ways to tailor gift-giving to one’s particular situation.
For example, small families might set a price limit for each person. Whereas, larger families can cut costs by buying gifts for kids only. Or, they could choose names so that everyone is buying for one other person with an agreed upon price limit. Another variation is to decide to give $25.00 worth of stocking stuffers instead of more expensive gifts and then actually stuff them in stockings. An even more creative variation is for everyone to buy one transgender gift, pile the gifts together, and use them as prizes for Christmas game night.
3. Don’t Buy For Yourself! Focus on buying for others. Charities will be hard hit this holiday season. If there is a sale or object that must be had, donate it!
4. Make a List. Santa knows what he is doing. By planning out who will receive gifts, givers know how much to budget per person.
5. Check the List Twice. Not to judge, but to look for gifts that can be bought in bulk. For example, teacher and hostess gifts can be similar. Lots of money can be saved by divvying up items (a package of Christmas ornaments or specialty coffees, for instance) for several people.
6. Create the Packaging. Christmas gift sets are hard to refuse, but these eye-catching, fun, and handy samplings come at a price. Do-it-yourself packaging—a mug filled with fuzzy booties, a package of deluxe cocoa, peppermint sticks, marshmallows, and a paperback book—is equally fun and more cost effective especially if the same gift works for several people.
7. Pay in Cash. Using a debit or credit card is convenient…and a convenient way to lose track of how much has been spent. Buying gifts with cash means shoppers know exactly how many pennies have been pinched.
8. Don’t Forget the Dollar Store. Dime and dollar stores are perfect places to buy tissue paper, wrapping paper, holiday tins, gift bags, gift tags, and gift boxes.
9. Watch for Sales. Forewarned is forearmed. Because stores are pulling out all of the stops to encourage shoppers through their doors, gift-givers can save a pretty penny by doing their homework. Comparing prices between stores or with online options means when shoppers finally part with their money, they know they are getting the best deal possible. When there is a planned purchase, it is easier to say no to last minute items.
10. Think Playful and Practical. This is not the year to give porcelain tchotchkies, but no one wants to find a bottle of dish soap under the tree either. The best gift is one that puts the fun in functional. Books, magazine subscriptions, colorful throw blankets, food and clothes are presents that bridge what people need with what they may not buy for themselves.
And a bonus:
11. Spend Time Instead of Money. Giving homemade gifts is another way to cut Christmas costs. A tin of homemade cookies, a scrapbook of the year’s highlights, and knitted hats and scarves all make welcome presents.
There is no need for a bleak mid-winter. Scrooge should be the only bah-humbug. With planning, everyone can honor both the spirit of holiday gift-giving and the necessities of a dwindling bank account.
Happy Holidays!
