9 Quick Tips to Save Money on Gifts This Christmas – Family and FI (2024)

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9 Quick Tips to Save Money on Gifts This Christmas – Family and FI (1)

It’s the season for giving! Christmas doesn’t have to also be the season that you go into massive debt to gift something to friends or family members. If you want to take part in the giving festivities this year but without breaking the bank, try these 9 quick tips to save money on gifts this Christmas.

1. Create a Checklist.

Write down the names of all the family and friends you want to have a gift for. Then, when you purchase the item, check them off your list. This will help you stay on track and work as a reminder that you already purchased that person’s gift.

2. Shop Black Friday and Cyber Week.

You do not have to go into a physical store to shop on Black Friday. Most Black Friday and Cyber Week deals are available online. Plan out each purchase on your list. I like researching items at bestblackfriday.com where you can compare prices by item.

3. Search for Store and Item Discounts.

A simple Google search can save you a ton of money. Simply google something along the lines of “Duracell coupons” or “Kohls Coupon.”

You can also find coupons on coupon exchange groups on Facebook.

4. Search for Cashback.

I like Ibotta and Rakuten. These cashback sites are completely free to use and most times you even get a cash bonus for signing up under our referral links.

5. Make Use of Your DIY Skills.

This is the ultimate tip to save money on gifts this Christmas. If you are creative, you can give the gift of your skills. Just make sure you are not one of those people who tend to spend more on the DIY than you would just buying the item at retail price! Here are some DIY ideas:

  • Crochet/knitted scarf
  • Baking cookies
  • Wooden project (signs, etc.)
  • Photo in decorated frame
  • Candles
  • Garden rock painting
  • Artwork

6. Never Pay Full Price for a Gift Card.

Here are some places that you can get discounted gift cards:

7. Skip Buying Pre-Made Cards.

Either make your own or skip them altogether. Just stick a couple of bucks in an envelope instead.

8. Have a Gift Exchange Game.

I’ll never forget when I traveled to my husband’s big family get together the first year we were dating. Everyone was told to bring a gift that was at least $30.00. Then, a song was played and every time the vocalist sang a specific word, we passed the gift we were holding to the right. At the end of the song, we were allowed to make one additional switch with whoever wanted to trade.

The game was so fun. I’ll never forget everyone’s eyes locked in on the wine-boxed shaped gift. I don’t even remember the gift that I received, but I’ll always remember the fun I had playing that game.

9. Re-gift.

There is nothing wrong with re-gifting a nice item that you have gotten in the past, as long as the item isn’t terrible. For example, maybe you are a football fan and were gifted a scarf with your rival team’s logo on it. It would be perfectly okay to gift that to someone who loves that team – or as a joke to another person who doesn’t like that team.

Some important takeaways here are that you should always make a list that includes everyone’s name and the gift you want to get for them. You should also research the items online and find the absolute best price with all discounts applied. And if you don’t want to buy personalized gifts, ask your family or friends if they want to do a gift exchange game.

Just remember that you don’t need to go further in debt this Christmas. Be creative, never pay full price, and most importantly, enjoy the time with your loved ones!

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9 Quick Tips to Save Money on Gifts This Christmas – Family and FI (2024)

FAQs

How to keep Christmas presents cheap? ›

Ideas for Christmas on a budget
  1. Check the bottom shelves at the supermarket. ...
  2. Make a list of what you need and stick to it – this may mean going to a range of different shops for the best offers.
  3. Go to the supermarket in the evening – between 7pm and 9pm – to take advantage of clearance prices.

How can I reduce my Christmas gifts? ›

4 Tips to Getting Family to Stop Giving Too Many Christmas Presents
  1. DON'T WAIT UNTIL DECEMBER! I feel like I need to say that again. ...
  2. It Starts With You Friend. You have to make a dramatic shift in the way you purchase for your own children first. ...
  3. Allow For a Gradual Approach. ...
  4. Offer Proof of Joy. ...
  5. Companion Gifts.
Sep 26, 2019

How to have an inexpensive Christmas? ›

Christmas on a budget: top tips, statistics & alternatives
  1. Plan ahead before you hit the shops. Don't go into the crowds without a clear budget in mind. ...
  2. Agree on price limits for gifts. ...
  3. Be honest. ...
  4. Watch TV for free. ...
  5. Save on postage. ...
  6. Ask for advice. ...
  7. Loyalty cards. ...
  8. Give an experience.
Dec 10, 2023

How to keep costs down at Christmas? ›

12 ways to save money this Christmas
  1. Have a plan. Before the shopping starts, work out what you want to spend and how much you can afford. ...
  2. Keep to your budget. ...
  3. Monitor your accounts as you go. ...
  4. Beware Black Friday. ...
  5. Don't over-cater. ...
  6. Get the news. ...
  7. Start early. ...
  8. Go for zero per cent.

What is a good budget for Christmas gifts? ›

However, a common guideline is to allocate around 1-2% of your annual income for gifts. Again, it's super important to set a budget that aligns with your financial health and priorities, which ensures a joyful holiday season with minimal financial stress.

What is a good Christmas gift on a tight budget? ›

Cheap Christmas gift ideas include baking mixes, homemade soaps and bath salts – and of course, anything edible. I love to buy food and beverage-related gifts because they're often less expensive, I know they'll always get used and they won't add extra clutter.

What is the 5 gift rule for Christmas? ›

In the five gift rule, the first four gifts are pretty straightforward - something they want, something they need, something to wear and something to read. Then, the last gift is where you can really have fun. The fifth gift is something they didn't know they wanted.

What is the 10 gift rule? ›

10 gift rule for Christmas

In the 10 gifts rule, the four basic gifts remain the same and 6 more are added. These include something to give others, something to do for others, a toy to play with the family, something to make, and footwear.

How can I celebrate Christmas with less money? ›

We've put together 5 easy ways to celebrate Christmas on a budget.
  1. Do a Secret Santa within your family. Consider doing a Kris Kringle or Secret Santa amongst your family. ...
  2. Share the catering on Christmas Day. Are you hosting Christmas this year? ...
  3. Consider swapping presents for charity donations. ...
  4. Shop online. ...
  5. DIY Decorating.

How do I stop spending money on gifts? ›

  1. Make a Joy-Based Gifting Plan.
  2. Pare Down Your Gift List and Notify Those Who Have Fallen Off.
  3. Add Yourself to the Gift List.
  4. Acknowledge Overspending Triggers.
  5. Consider Giving One Gift Per Group.
  6. Take Advantage of Price-Matching.
  7. Track Gift Spending Daily.
  8. Finally, Remember That People Forget.
Nov 17, 2023

How to save on Christmas gifts? ›

12 Best Tips to Spend Less at Christmas
  1. Play a gift-giving game.
  2. Set a spending limit.
  3. Make a list.
  4. Stick to cash.
  5. Give your time.
  6. Re-gift.
  7. Donate.
  8. Get crafty.

How can I be frugal at Christmas? ›

The experts: money gurus' 20 failsafe, frugal tips to keep Christmas overspend at bay
  1. Limit your exposure to unreal expectations of Christmas. ...
  2. Don't throw money at the problem. ...
  3. Consider group presents. ...
  4. Try a Secret Santa. ...
  5. Reject the notion that 'it isn't Christmas without …' ...
  6. Budget for festive spending throughout the year.
Dec 7, 2023

How do you shop for Christmas on a tight budget? ›

SHARE:
  1. Key holiday spending statistics.
  2. Save money in advance.
  3. Make a budget.
  4. Do your holiday shopping early.
  5. Look for discounts and free shipping.
  6. Look at other holiday gift options.
  7. Consider homemade gifts and experiences.
  8. Frequently asked questions.
Sep 19, 2023

How do you buy Christmas gifts on a tight budget? ›

Buy cheap Christmas gifts wherever possible . Cheap Christmas gift ideas include baking mixes, homemade soaps and bath salts – and of course, anything edible. I love to buy food and beverage-related gifts because they're often less expensive, I know they'll always get used and they won't add extra clutter.

How much money should I give for Christmas gift? ›

A budget of around $100 is standard for longer relationships. If you're married, $100 is the median amount, and the top 25% of couples spend $300. Remember these are guidelines; you should not feel obligated to match these amounts if you're under financial stress.

How do you expense Christmas gifts? ›

You deduct no more than $25 of the cost of business gifts you give directly or indirectly to each person during your tax year. If you and your spouse both give gifts to the same person, both of you are treated as one taxpayer.

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