Holiday Guide: Save Money on Christmas Gifts with These Magical Hacks

Holiday Guide: Save Money on Christmas Gifts with These Magical Hacks

Have you prepare your Christmas gift list? It’s not a secret anymore that during the holidays, people tend to overspend extremely. This year alone, an average American is planning to spend $660 on gifts. That’s why monitoring Christmas spending and sticking to a budget is something that every individual should make an effort to do this while shopping for Christmas gifts.

To do so, it’s extremely important to take your time carefully by planning
and budgeting for Christmas gifts, so you don’t end up overspending and putting
things on a credit card. According to recent data, 24 percent of millennial
shopaholics still haven’t paid off their credit card debt from last Christmas.

Kindly, don’t let this happen to you. Here are our five best tips to
avoid overspending during the holidays and still get that special Christmas
gifts for everyone on your list.

1) Sticking exclusively to a
Christmas Budget

One of the most important things you can do to save money on Christmas
gifts is to stick to a particular gift budget. You can easily associate this
into your monthly budget and put all the money away for Christmas gifts  in the months leading up to Christmas. This
also requires budgeting how much you will spend on each gift.

Budgeting may not seem an easy aspect, especially around the holidays.
Consider the term ‘budgeting’ as a creative challenge. Often, carefully thought
out gifts (think about home-made gifts) are a lot more meaningful than the more
expensive ones. These magical Christmas savings hacks can help you stick to your
budget.

Consider expectations set by family members and social situations when
making up your budget. You may want to advocate for lower spending limits if
you have a lot of family members.

Shop during big sales and start shopping early. If you can buy gift items throughout the year, it can make the holiday gift-buying season less confusing.

Setting aside cash each month for Christmas gifts can also make
budgeting easier.

2) Plan to list Christmas Gifts
in advance

Furthermore, an important characteristic of saving money this holiday
season is to plan ahead when shopping for Christmas gifts. You can begin
looking for Christmas gifts at any time during the year, but big holiday sales
weekends like Labor Day, Black Friday and Cyber Monday are great places to
start.

If you do shop early, be sure to keep a list with you that what you
have bought for whom and what you still need to buy. You don’t want to end up
buying three gifts for one person and none for another. You can also plan ahead
through comparison shopping technique and through online shopping; two other reliable
ways to initially cut the spending.

Check out these tips for comparison shopping or buying gifts in
advance:

  • Keeping an updated list helps you
    watch for the best price on an item and somehow keeps track of for whom you’ve
    already bought gifts.
  • Planning ahead can merely simplify
    the process and take away the confusion of finding the perfect gift.
  • A list allows you to ask others
    about where to find the best deals.

3) Exchange Christmas Gifts by raising your spirits

Another easy way to save on Christmas gifts is to do a Secret-Santa
gift or to draw names. That way, you will only have to shop for one person.
This really can help save money on gifts, plus it allows people to purchase a
finer gift for an individual, rather than several less meaningful gifts.

This could be applied to office giving as well as extended family
giving. Large families may do it among siblings, as well. Here’s why you should
consider a Secret Santa gift exchange this year:

  • Often people end up with a nicer
    gift that is useful, and everyone ends up spending less than they would if you
    bought for everyone.
  • The Secret Santa gift is easy to
    set up and many people jump at the chance to simplify their shopping
    expectations.

4) Purchase One or Two Extra
Christmas Gifts

During the holiday season, it’s mostly common to attend last-minute gatherings
or meetings or even a holiday party at work. Most of the times, you’ll need to
bring a small gift to these parties and these additional, unpredicted Christmas
gifts can throw off your​Christmas budget.

You can prepare for this by purchasing one or two generic gifts that you can give in return when you receive an unexpected gift or have an unexpected party to attend. Gift cards are a great solution, but you could also consider having a nice bottle of wine or another type of hostess gift on hand.

Worth noting: You also may want to choose a few different types of
these generic gifts to be sure the gift will fit the recipient.

Try these tips on stocking up on last-minute gifts:

  • Try to buy something that you
    would enjoy having just in case you do not use it.
  • You can also return unused gifts
    if needed, but remember, it is better to have something on hand rather than
    trying to buy something at the last minute.

5) Give a Christmas Gift to
someone needy

Take time this holiday season to give to someone who truly deserves it.
This gift may be the one that makes the biggest difference in your shopping
experience.

There are several charities to choose from that helps those in need
during the holidays. You can purchase this gift while you are out shopping and
drop it off right away or you may decide to organize a toy drive for a specific
organization or family yourself.

You might also consider giving gifts to those in need rather than exchanging gifts with family and friends. Consider the following for buying for those in need this Christmas:

  • Taking time to help someone else
    can make a big difference and help get you into the holiday spirit.
  • Giving to those in need is an
    alternative option to buying for everyone in your family, which could also save
    you money while doing some good at the same time. 
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