6 Ways to Budget Gift Giving this Holiday Season

Holiday gift-giving doesn’t need to drain your bank account. According to Deloitte, 37% of American households say their financial situation is worse than last year. Despite the economic pressures and rise of inflation, the holiday spirit remains intact. The American people are finding creative ways to give meaningful gifts and stay within their budget. Check out our top six tips to help you get started. 

Set a Budget for Each Person on Your List

One of the easiest ways to ensure you don’t outrun your budget is to stick to one! Instead of wandering the shops or websites at random, try to come up with a set budget for each special person in your life. 

To get started, first determine the amount you’re wanting to spend in total. Then, list the people you’re planning on gifting and divide the amount up by how much you think each gift will average. Alternatively, you could list the price of the gifts you’re expecting to get next to each person and add up the total. If your amount is way over budget, then you know you need to start trimming your list or find alternative ideas.  

Shop Sales and Use Coupons 

Don’t forget to always check for deals before putting your items in your cart. The holiday season is one of the best times of the year to find sales. All it takes is a little bit of extra time and effort before making your purchases.

For each gift, look for coupon codes, cash-back options, and two-for-one deals. You could also consider marking your calendars for Black Friday and Cyber Monday. You may be able to grab a must-have item on your loved one’s list. 

Alternatively, you can try buying one or two items per month to ensure you stick to a budget while still offering items you know your loved ones will absolutely adore. 

Stick to a List or Pool Resources 

Another mistake a lot of well-meaning gift-givers make is to buy gifts at random for everyone. This often happens when we are in a big hurry and the deadline is rushing near. Instead, stick to a list. Staying organized and having a clear idea of what your friends and family would like can help you ensure your items will be treasured and your loved ones will feel cherished. 

You can also decide together as a group of friends or family to pool your resources together to find one special, more expensive item. That way, you can afford a special gift they truly want. 

Send Holiday Checks

Holiday checks are one of the best ways to give funds so your loved ones can find the gift they’ve had their eyes on. Checks are much safer than simply mailing cash since you’ll be able to keep a paper trail. Plus, it feels much more personalized than simply handing money, especially when you use a decorative holiday check. 

Checkworks offers a lot of different styles and motifs, like Ornaments Checks for those seeking a festive Christmas design, Gifts Galore and Winter Gifts checks for a more general, non-denominational approach, and Happy Hanukkah checks for those observing the holiday.

Make Presents 

Not all presents need to be economical. Actually, a lot of people prefer gifts that are handmade and show that you’ve put a lot of thought into them. So if you can’t afford the gifts you’re wanting, why not try seeing if you can make something similar at a fraction of the cost? Watch the receiver’s face light up, knowing that you spent so much time and effort on a one-of-a-kind gift.

Wrap Gifts Yourself 

If you’re on a strict budget, don’t waste your money on professional gift wrappers. Instead, invest the money into beautiful gift wrapping paper and accessories like ribbons or bows. Add a handmade card for an even more personalized touch. If you’re not confident in your gift-wrapping abilities, there are many videos online to help take you through the process step-by-step.