Scraping together money for Christmas gifts can be stressful – even if you don’t have kids. You won’t have to worry, though, if you plan your attack now.
Create a Shopping Budget
Decide who you are going to shop for. You can’t shop for everyone, and you shouldn’t beat yourself up about not being able to. At the heart of it all, Christmas is about love and spending time with the ones you love. You might have a hard time choosing who you can and can’t shop for. Consider making cards or baking something for the ones you can’t afford to shop for. Focus on your kids if you’re a parent, and consider homemade gifts for everyone else on your list.
Once you’ve decided on how long your list is, you need to set a budget. Set an amount you’re going to spend on each person first, then multiply that by how many people are on your list. So, if you have eight people you want to shop for, and you want to spend $25 on each person, your budget is $200.
Don’t forget to add wrapping paper, cards, gift labels, and gift boxes into your budget. You don’t have to splurge on wrapping paper decorated with ornaments, Santa, and snowmen. Buy solid colors instead, because they are cheaper than Christmas wrapping paper. You can reuse them all throughout the year on birthday and anniversary gifts, so you also won’t be stuck with a roll of paper you can only use once a year. Best of all, your gifts will really pop out from all the other gifts wrapped in “Ho, ho, ho” paper.
Instead of spending money on ready made gift labels, make labels by hand by cutting Christmas or solid cardstock into small squares, or draw your own shapes with a pencil and then cut them out. Stick them on with tape. You can use your leftover cardstock to make cards.
Buy your gift boxes at the dollar store. No one will ever be able to tell. You may also find sets of different sized gift boxes for good prices at discount chains like Kmart, Target, or Walmart.
You need to start saving now, because December is closer than you think. Take your total budget and divide it by the number of paychecks you’ll get before Christmas, but leave enough time to actually go shopping (without dealing with the last minute rush, unless you enjoy it)! Divide your budget by the number of paychecks you’ll be collecting to see how much you should be saving each week. Say you’re planning on going shopping the week before Christmas, and will have six paychecks between now and then. You’d need to save $33 every week, which is a lot easier than trying to come up with $200 all at once. You could also buy one gift each week.
Find Inexpensive Gifts
Once you decide on your budget, start a list of gift ideas for each person. The gifts you choose for people don’t have to be super expensive or big. Choose small, inexpensive, thoughtful gifts for your friends and family – things they can really use. Buy a set of dishes, towels, or pots and pans for a couple instead of individual gifts for each person. If there are children on your shopping list, get them some clothing instead of pricey toys. Throw blankets, memory foam slippers, and fleece jackets are also always thoughtful, inexpensive presents.
If you really don’t know what to get someone but want to be a little more thoughtful than just handing them a card full of money, give them a gift certificate from a store they like to shop at. Give them gift certificates to department stores like Macy’s or Kohl’s, discount chains like Kmart, Target, and Walmart, or wholesale discount chains like Bob’s or TJ Maxx if you aren’t sure where they like to shop. Stay away from credit card gift cards (such as American Express, Visa, or mall credit card gift cards), because you will have to pay a fee and the person you are giving it to has to use it before a certain date. Depending on the state or country you live in, regular gift cards never expire. Check with the store you’re buying them at if you’re not sure.
Pay attention to sales flyers; chances are, that sweater you want to get your cousin will go on sale again in two weeks for even cheaper than it is now. Some stores even let you bring in your receipt if something goes on sale cheaper after you buy it, so ask the cashier when you check out.
How do you get your Christmas shopping done when you’re on a budget? Share your tips and tricks in the comments.