Now that Halloween is over and we’re more than midway through November, it’s finally time to admit that Christmas is just around the corner. As fun and magical as the holiday season is, it can also be incredibly stressful, especially when you’re on a tight budget. The food, decorations, and days out can all cost you an arm and a leg, but the biggest expense by far is almost always the gifts.
If you want to keep costs low and avoid a financial hangover this New Year, here are seven creative ways you can save money on gifts this Christmas.
How to save money on gifts this Christmas
Suggest A Secret Santa
Most spend hundreds on gifts for everyone they know, but you can easily cut costs down by getting a group together and buying one present instead. Hosting a Secret Santa or gift exchange is the perfect solution for families or groups of friends hoping to cut costs over Christmas. As well as the financial benefits, it also saves stress and gives you time to find a more meaningful present. Just make sure that you set a gift budget that everyone in the group is comfortable with.
Regift Any Unwanted Presents
Instead of leaving unwanted past gifts to gather dust in a forgotten cupboard, find the perfect recipient and rewrap them for Christmas Day. This is a great way to clear the clutter out of your home, as well as save time and money buying brand new presents. That being said, if you do plan to do this, there are a few rules that you should follow. The most important is that you only regift items that are sealed and brand-new and never anything meaningful or handmade.
Look For Online Codes
Finding the perfect gift for a friend or family member is a truly magical moment, but that doesn’t mean that you should go ahead and buy it right away. After all, with some research and shopping around, you can usually get a much better deal. Rather than paying full price, check out online voucher and cashback sites to see if you can get any money off. If you can’t find a code right now, try saving the item to your cart. Chances are, the store will send you one later.
Create The Gifts Yourself
Nowhere in the Christmas rulebook does it say that all gifts need to be expensive and brand-new. In fact, many recipients will appreciate a homemade gift more, as they’ll see that you’ve put time and care into it. With that in mind, you should consider where your skills lie and see if there is any way that you could create a high-quality present yourself. If you can’t make something to give to someone, then offer a service, like an evening of babysitting on a night that they choose.
Buy A Few Extras
When you’re trying to save money, buying extra gifts can seem like a ridiculous idea. However, it’s important to remember that last-minute gifts often cost you much more than they would have done a few weeks earlier. If you’re given a gift by someone unexpectedly, it’s only right to return the favour. Having a few generic gifts wrapped at home makes this simple and budget-friendly. If you have any presents left over after Christmas, you can return them or keep them for yourself.
Wait For Holiday Sales
The run-up to Christmas is full of holiday sales, with the most popular including Black Friday and Cyber Monday. If you have anything particularly expensive to buy, like technology or household appliances, waiting until these sales begin can save you a lot of money. Just be aware that stock could run out quickly, and you may not have the opportunity to make your purchase. For this reason, it is always sensible to have a backup gift idea for everyone on your Christmas list.
Cut Down The List
If Santa Claus himself has a naughty list, then why can’t you? Despite what many believe, you don’t have to buy everyone you know a present for Christmas. In fact, you don’t even have to buy most of the people you know a gift. For simplicity’s sake and to save money, many choose to only buy for certain friends or family members, and others go one step further by only buying for children. If this is something you plan to do, just make sure that you let your loved ones know.
Gifts can cost you a lot over the Christmas period, but, with these tips, you should be able to trim down your budget.