By ASH IDRISY
Maybe you’ve already heard Mariah Carey’s infamous “All I Want for Christmas Is You” on the radio, or noticed houses decked out before we’ve even carved the turkey or simply felt the morning freeze. Whatever sign you are picking up on, the reality is the winter holidays are approaching, and with that inevitably comes long car rides and lots of shopping. Now I can’t help with the car ride, but I do want to offer some suggestions about how to stretch your dollar as you get all those nifty giftys.
First, make a list. Go through everyone you would like to get a gift for and then tier the list into three groups. The first group will absolutely get a gift, the second one maybe, and the third group will have to settle for a card or some cookies. Not that cards or cookies aren’t thoughtful, but it’s a good way to make gifts for a lot of people at once.
Speaking of making gifts, don’t make personalized gifts for everyone. While handmade gifts are heartfelt, they’re rarely budget friendly. If you spend five hours each on ten gifts, assuming your time is worth $10 an hour, that’s $500 of effort, not counting materials. If you can spend less than that buying gifts, you’ve saved time and money!
Now, I fully appreciate that it’s no small task to get presents for everyone you love while sticking to a budget. There have been so many instances where I’ve splurged on a gift simply in anticipation of making a little kid’s day with the “best gift”. We are not alone in these impulses, according to the National Retail Federation “Consumers plan to spend $890.49” this year, where “$627.93 will go to gifts for family and friends”. That’s a big bite out of anyone’s budget, here are some tips to stay on budget.
One, try the old-fashioned re-gift. There has to be something you got that you never opened and is just lying around, collecting dust. Perfect! Blow on it like it’s an Atari cartridge, wrap it in some tinsel and slap a bow on it, done.
Two, thrift stores are the best stores, especially during the holidays. Check out your local Goodwill and see what you can score. I personally like their selection of board games, puzzles, and books. You can use these to make great gifts, like a cookbook with a handwritten family recipe inside, or board game night “kit”, made from used board games and a few snacks, finally get a used photo frame and stick in a precious memory. For the kids on your list, vintage games are definitely back in fashion, you can never go wrong with a Chia Pet or Nerf guns, these types of items definitely show up in thrift stores.
Third, this one takes cooperation and coordination. Instead of everyone in the family getting a gift for everyone else, try a Secret Santa or White Elephant exchange. These games make the holidays more fun and help each person give one truly personal gift without breaking the bank. Along those same lines, consider making the holiday meal a potluck, so everyone contributes and one person doesn’t bear the full financial load of feeding the group.
The final trick I use to stay on budget is leveraging credit card points. Every year, I let my points accrue until the holidays; whatever I’ve earned becomes my gift-giving wallet. That said, don’t overdo it with the credit cards as revolving debt tends to spike in December. A little planning now can save you a New Year’s headache.
If you’ve managed your money well this year, hitting your savings goals and sticking to your budget. Congratulations! Reward yourself with something small and consider using your abundance to give back. Whether it’s donating to a local food bank or volunteering your time. There are so many people in need and so many worthy causes, if you have the ability, please do something to help. After all, sharing and kindness are the best gifts of all.
