Holidays and gifts go together like peanut butter and jelly. Unfortunately, if you aren’t carefully planning and scraping pennies, the holiday season can also go along with financial stress. Christmas and holiday shopping can be intimidating to even those with the largest of bank accounts and negatively impact the average paycheck-to-paycheck family. By following these tips, this holiday shopping season will be a breeze and stress free, freeing up valuable time to truly soak in the magic of the season.
1. Prioritize recipients and their gifts in order of importance
When deciding who to purchase gifts for, look for the important pillars in life; spouses, children and immediate family members should be at the top of the list, with distant family members at the bottom. Has it been 12 years since you have seen Aunt Sally? She probably doesn’t need, nor expect, a Christmas gift. Of course Christmas is a time of giving, but one shouldn’t feel the need to buy gifts out of obligation. A list creates a visual and mental note of gifts to buy and will help you avoid buying things that aren’t necessary.
2. Make a budget… and STICK TO IT
As soon as it is decided who will get Christmas gifts, make a budget for either each person or gifts as a whole and do not stray from the budgeted number. Exceeding what is allocated adds up quickly; going over budget by even $20 per person can easily make hundreds of dollars disappear, depending on family size. Dollar amounts are not the only thing to be aware of when shopping. Think about the quantity of gifts for each person on the list. If $100 is allocated for each recipient, in gifts and presents that could be one to two higher value gifts or 10 to 15 smaller gifts.
3. Shop sales and use coupons
Most retailers and stores, both online and brick-and-mortar, typically run sales in the months and weeks leading to the holiday season. Oftentimes, the sales and discounts increase as time inches closer to Christmas. Black Friday and Cyber Monday are huge sale dates, and hot ticket items will be at steep discounts. Amazon also offers “Prime Day,” an online event for Amazon Prime members, where items are discounted and priced significantly lower. Kohls, Old Navy, Carters and Belk frequently release coupons that many times can be used in conjunction with their everyday prices and sales. Get more bang for your buck by shopping Amazon’s Warehouse, a hidden gem on the online retail giant’s website. Items sold from Amazon’s Warehouse are usually refurbished or returned goods that have been checked and rated by staff to ensure quality.
4. Make sure you are getting the lowest price available to shoppers online
There are so many online platforms dedicated to scouring the internet for the best prices and deals. With a few extra clicks, you can be certain you have found the best deal.
-Honey is an app and Chrome extension that will show any available coupon codes applicable to a purchase.
-Flipp compiles a list and user-friendly interface of local sales flyers, as well as clickable links directly to the product shown.
-Rakuten gives discounts based on total purchase price and retailer, has cash-back incentives for referrals, discounted gift cards and coupons.
-ShopSavvy compares prices from various retailers all over the web, confirming the price listed is the lowest price available.
5. Get creative and give handmade gifts
A homemade gift is a great way to save some cash at Christmas. A hand-knitted scarf or brownies and pies made with love could be the perfect gift for someone on your list. Look at the interests of the individual and assess their personality; What is their favorite color? Are there any hobbies they enjoy? By tailoring a gift specifically for a special person, a creative handmade gift is a heartfelt, intimate gesture and adds a personal touch to the holidays.
6. Give the gift of service
What do YOU do for business? Housekeeping, landscaping, babysitting or whatever your hustle may be, a seemingly mundane and boring gift of services can alleviate outside stressors of everyday life. Giving services could also make a surprisingly refreshing gift, avoiding the Christmas clutter and filling a daily need.
7. Use layaway and payment programs
Layaway has been around for decades and although it has lost a portion of its fan base, budget conscious shoppers can pick items from their gift lists and for a portion of the total purchase price (and sometimes a small fee), gifts are paid off in installments. A plethora of payment programs are available for online or in-store shopping. Klarna, Afterpay, Sezzle, Zip and Affirm are all reputable programs designed to break larger totals into easier to manage smaller payments, to be paid every two to four weeks. There is a small fee involved in each of these options; however, the benefit of shopping early (avoiding last-minute impulse buys) and sticking to the budget is worth every penny.
8. Regift, reuse and recycle
Regifting items has been a cultural taboo in our society and is more times than not seen as tacky. But why? Waste not, want not; it’s an easy way to stay under budget. A lone gift card wasting away in a wallet is the optimal gift for a teen, or a pair of slippers that just didn’t feel right make the perfect gift for grandpa; a Bath and Bodyworks candle that has been sitting in the closet is ideal for sisters, aunts or mothers. Regifting is a zero dollar present marked off of your list, freeing up funds for other needs that arise in the holiday bustle.
9. Give experiences, not material things
Experiences are a phenomenal gift idea if the idea of meaningful, affordable gifts tickle your fancy. In 2022, the average American family spent $150-$200 per person on Christmas gifts. Instead of 10-15 toys that could break or be misplaced, one child could enjoy a yearly membership at a local museum, zoo or aquarium, providing hours of fun 365 days a year. For families with multiple members, a weekend trip or vacation depending on the allotted budget could be given in lieu of gifts. Time with family is priceless; the memories themselves will last a lifetime, or at least longer than a lip gloss or a toy train.
10. Remember the reason for the season
The holiday season is a magical time filled with family and fellowship. That is precisely what it is meant to be. It’s much easier said than done! Try not to stress and worry about picking the perfect present; spending time with family is the greatest gift. Bake those cookies to give to neighbors, teach your children to sing Christmas carols, go to grandma’s house and learn to make her dinner rolls. Live in the moment and cherish your blessings; the memories made will be gift enough and last forever.
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