Do you find yourself looking at your receipts at the end of the Christmas season and wonder where all your money went? Cut your holiday gift budget with my tips. I don’t spend hundreds on Christmas and want to share my top tips on how to save money on Christmas gifts.
How to Save Money on Christmas Gifts
Don’t raise your stress level by spending too much money. Follow these simple tips to give great gifts at a low cost!
1.Set a Budget. If you need some help making a budget I have a great post on what to include in your Christmas budget.
2. Shop at a Thrift Store. You can find brand new items at thrift stores such as clothes with the tags still on them. You can find collectibles. Depending on who you are buying for you can also buy gently used items. Last year for Christmas one of my favorite items was a set of Star Wars comic books. They were used, but it was something I wanted. The year before my husband found some a cute Disney Vinylmation (he paid just $2.50) and a Collector’s Edition Ceramic 101 Dalmatians Plate (just $22).
3. Shop at Discount Stores. Ross, Marshalls, Bealls Outlet, Big Lots, and TJ Maxx are all great places to buy quality items at a fraction of the price.
4. Gift Out of Season Items. While everyone else is exchanging sweaters and jackets. Gift fall, spring, and summer items that are on clearance. When buying for children, buy a size or 2 up to account for growing bodies. I love shopping the Target clearance section for postseason deals!
5. Shop Quality over Quantity. Think about the worth of the present you are buying. Is it something that the person will hide in their closet or something they will be proud to display in their home? I would rather receive one gift that I truly love than many gifts just to fill the bottom of the tree.
6. Set Gift Spending Limits. This can be done for family functions and within the family. My husband and I set limits for spending on each other depending on how much I budget. Remember, it is not the gift itself but the thought. I know some people are afraid to come forward and tell their family members about financial decisions, but you need to put yourself and your finances before what your family may or may not think about you.
7. Set a Gift Limit. If a spending limit doesn’t work for you, set a gift limit. Many people do the 4 Gift Rule, which you buy each person something they want, something they need, something to wear, and something to read.
8. Make Gifts and Gift Services. I have a list of 10 FREE Gifts to Give at Christmas when Money is Tight.
9. Don’t Do All Your Shopping on Black Friday. According to the US News Website, that is not actually when prices are the lowest. They say, ” In fact, some items – like toys – are best purchased closer to Christmas when prices are anticipated to drop even lower.”
10. Shop Online. If the temptation to fill your shopping cart is too much at the store, it may be better online where endcaps are designed to get you to spend more money.
11. Research Prices Online. Even if you are not planning to shop online compare prices online to see which store has the item you are thinking about purchasing. Many stores have higher prices in the brick and mortar stores and will price match their online price.
12. Simplify Your List. This is coming from a former teacher, you do not need to buy your child’s teacher a present. A nice hand-drawn card from your child is all they really want. You don’t need to buy every person you come in contact with a present. Even Emily Post advises in her holiday tipping article that you don’t need to go beyond your personal budget. She advises, that words are always a great way to express your thanks for a year of good service.
What is your favorite way to save money on Christmas presents? Let me know in the comments!