Today we're going to talk about holiday gifts. Now listen, I am not one of those people that starts counting down the weeks 'til Christmas while it's still flip-flop weather. I don't want anyone to hand me a Pumpkin Spice Anything for another month. In fact, coming from a retail background where Christmas started in October, I now firmly believe in celebrating Christmas starting in December. I do believe, though, in planning for holiday gift giving starting now.
If you start thinking about holiday gift giving early on, you can save between 50-75% of what the typical American spends. Yes, for real.
Again, just like last time, I want you to think about holiday expenses on an annual basis, and not on a per-gift basis.
And how much does the average American spend on holiday gifts? That would be slightly over $900. Does that sound excessive? Add up:
1) First thing's first, reduce expenses by setting expectations. And that includes with yourself.
Now, take that list of people you're going to buy for and, think about who in your gift-giving circle may be like-minded in terms of wanting/needing to save money, or having less "stuff." Then have the conversation based on your common ground, and come up with a way to celebrate that doesn't involve shelling out cash.
Another way to think of it: would any of your coworkers, friends, or family expect you to get them a gift card with a note that says "This is actually a $30 gift card--$25 for you, and 20% APR on my Mastercard!"
Or how about a card that says "Merry Christmas! I could have made three student loan payments, but I got everyone I know some stuff from Target!"
So how do you still celebrate without draining your bank account?
And MOST importantly: STOP BUYING FOR YOURSELF. In any given year, up to 60% of Americans will buy holiday gifts for themselves. In fact, on average, you're spending $130 on yourself. That's 15% of a $900 budget! Commit to not falling in to the "it's on sale, I'll just buy myself a present" trap. If you really want something, add it to an Amazon wish list, and then revisit the list after the holidays, when prices are the lowest (and when you've likely received some cash and gift cards), or tell someone who asks for a gift idea for you.
2) Next, have more money to spend on gifts by saving on the wrapping.There are a couple of frugal options here:
For example, see this? This was 90% off Christmas wrapping paper at Harris Teeter. It's also birthday wrapping paper, Father's Day wrapping paper, congratulations paper, etc.
3) Save on the annual holiday cards too.
Save money on cards by reading this post and printing your own instead of shelling out cash for boxes of them (around $35 for 50 cards) or for individual cards. Better yet, save money on postage (it's almost $25 for every 50 cards you mail with the postal service) by e-mailing your card, well wishes, and an update on you/the fam instead.
4) Earn Money for Stuff You Were Going to Buy Anyway
There are two main ways I earn money on things I was going to buy anyway:
6) Do good, give less 'stuff,' and harness tax donations (if you itemize) with Charitable Donations
This is a great idea for people that don't need anything, those wanting to downsize/declutter, and/or friends who are passionate about a particular cause. Just a few ideas:
7) - Give Grocery Store Flowers the Classy Way
Look what else you can do with those grocery store paper bags & craft store ribbon! (Burlap fabric is pictured, but you get the idea.) This is a great gift idea for someone who has everything (hi, grandma!), a hostess gift, or for a coworker. Remember to wrap the stems in foil or a plastic bag so they don't leak.
8) Give Cash...creatively
Want to give cash? Need to make $1-$40 (or more) seem more thoughtful than bills in a card?
9) Give gift cards with a little extra glam
There are times where giving a gift card really is what someone wants or needs. How many times, though, has this scenario played out at the grocery store:
Did you know that Amazon will mail gift cards in adorable little packages for just the cost of the gift card? You can get an adorable cupcake tin, a mini graduation hat, a tiny Amazon box, a holiday box with an evergreen sprig, an ornament, lots of colored boxes with matching bows, as long as your gift card is $25 or more.
Want to spend less than $25? For $10 or more, get a greeting card with a coordinating gift card. Then write a novel--heartfelt sentiment is priceless!
10) Give a free teacher gift that will be immensely appreciated.
This advice comes straight from the 2 teachers I'm related to, who are just shy of 50 years of combined experience. Teachers don't want the following: candles, mugs, lotions, soaps, candy, or suspect baked goods. "What are suspect baked goods?" you ask. The answer: cookies or food made by kids who aren't the world's most stellar hand washers. Yes, the teachers know, and they talk about it in the teacher's lounge.
Okay, so what do they want then? You'll be pleased to know the answer is something FREE. Teachers would love a nice handwritten card from you and/or your children thanking them for what they do, or specifically mentioning what has helped them this year. Want to give an extra (also free!) gift: send an e-mail to the principal noting what you appreciate about your kid's teacher.
Really dying to give them A Thing? A small gift card to Target, Starbucks, Total Wine, or Amazon is the way to go. And Special Hint from a Teacher: e-mail another teacher in the same grade and she/he will tell you if your child's teacher drinks wine, coffee, or whatever, so you can get them a gift card they'd like.
So pick your strategies! And to prove how this works, here's how all these little changes could add up to save you half (or more!) of your budget:
If you start thinking about holiday gift giving early on, you can save between 50-75% of what the typical American spends. Yes, for real.
Again, just like last time, I want you to think about holiday expenses on an annual basis, and not on a per-gift basis.
And how much does the average American spend on holiday gifts? That would be slightly over $900. Does that sound excessive? Add up:
- Who you're buying for and what you plan on spending.
- Now add those things you buy for yourself during the holiday season (because there's a good sale and you deserve it, right?).
- Aaaaand don't forget the cards and wrapping paper.
- Hostess gifts for parties, fancy clothes for the same, or meals that you cook (or bring a dish).
1) First thing's first, reduce expenses by setting expectations. And that includes with yourself.
Now, take that list of people you're going to buy for and, think about who in your gift-giving circle may be like-minded in terms of wanting/needing to save money, or having less "stuff." Then have the conversation based on your common ground, and come up with a way to celebrate that doesn't involve shelling out cash.
Another way to think of it: would any of your coworkers, friends, or family expect you to get them a gift card with a note that says "This is actually a $30 gift card--$25 for you, and 20% APR on my Mastercard!"
Or how about a card that says "Merry Christmas! I could have made three student loan payments, but I got everyone I know some stuff from Target!"
So how do you still celebrate without draining your bank account?
- For many of the friends and family members that we have this agreement with, we get together and do a potluck dinner at home/game night/drinks instead. One of my favorite things we do at the holidays is called Christmakwanzaukkah. We get together with our friends who have different traditions, and we celebrate by having a potluck and playing board games. Last year we had a latke battle. (The gentiles lost.) Cost? 1 sack of potatoes.
- For coworkers, create a new tradition! Change the expectations or the give-everyone-something-small ways of the past, and build consensus to do a potluck, draw names, or all contribute to adopt a needy child/family and each donate one item. We switched from coworker gifts to an Angel Tree last year, and it was GREAT. Plus, everyone finally admitted they were relieved to not exchange bottles of alcohol.
- Set a limit with your spouse or significant other--this is where things tend to get out of control, especially when you're young and in love. Or older and in love. BE IN LOVE, NOT IN DEBT.
- For teachers, see the last section--there's actually a worthwhile FREE option here that's BETTER than what you're giving them now!
And MOST importantly: STOP BUYING FOR YOURSELF. In any given year, up to 60% of Americans will buy holiday gifts for themselves. In fact, on average, you're spending $130 on yourself. That's 15% of a $900 budget! Commit to not falling in to the "it's on sale, I'll just buy myself a present" trap. If you really want something, add it to an Amazon wish list, and then revisit the list after the holidays, when prices are the lowest (and when you've likely received some cash and gift cards), or tell someone who asks for a gift idea for you.
- Recycle gift bags & boxes. Whenever I get a gift, I save the pretty box or gift bag it came in. I keep them all in a plastic tub in the hall closet, separated by birthday/holiday/any occasion. (I'm not to the point of saving and ironing wrapping paper...I think I'll reserve doing that for when I'm an octogenarian.) Total Cost: $0
- Paper bags from the grocery store + any color marker + ribbon (don't forget your coupon if you go to the craft store)! Total Cost: $2-8 depending on the ribbon/marker you choose
 |
| Cost: $2 for curling ribbon, $4 for satin, $6 for raffia, |
- Shop the sales after ANY holiday, and look for non-holiday specific paper.
For example, see this? This was 90% off Christmas wrapping paper at Harris Teeter. It's also birthday wrapping paper, Father's Day wrapping paper, congratulations paper, etc.
 |
| Beast shows off the bargains. |
- Print Free Gift Tags
The internet is your friend here. Just google "free printable (insert holiday/occasion here) gift tags" and you'll get a bunch that you can print. Here are 41 different options for the holidays. Total Cost: $0
 |
| Free from Simple As That. |
Save money on cards by reading this post and printing your own instead of shelling out cash for boxes of them (around $35 for 50 cards) or for individual cards. Better yet, save money on postage (it's almost $25 for every 50 cards you mail with the postal service) by e-mailing your card, well wishes, and an update on you/the fam instead.
- Hallmark Method: $55 for every 50 cards you mail (cards + postage)
- DIY method: $36 for every 50 cards you mail (supplies + postage, with 200 sheets of cardstock left over)
- E-mail method: $0 + less paper that has to be recycled, plus you can procrastinate!
4) Earn Money for Stuff You Were Going to Buy Anyway
- Use EBates - The first is through EBates. When I first heard of this, I was highly skeptical. Buuuuuut it turns out that in the past year, I've made $135 from stuff I was going to buy anyway--the proof is below. I have an extension installed on my browser that alerts me if a store has a cashback bonus. If it does, I click the button saying that I want the bonus, shop, and then get a check every quarter. Places I've earned cash include: Etsy, Ebay, Target (yes, you can also use your RedCard!), Shutterfly, Living Social, Banana Republic/Gap, Wal-Mart, and Starwood Hotels.
Two things: 1) if you sign up with this link, you get $10 and I get $25. 2) If you sign up, please, please, please refrain from falling in to the trap of buying things just because you get a percentage back. Only buy things you absolutely need and/or fit in to your budget. It doesn't matter that you get 5% of your purchase back if you shouldn't make the purchase in the first place.
- Buy gift cards at a discount from a reseller site like Raise, Card Cash, and Gift Card Granny - here's how this works, with Raise in particular: let's say there's a $50 dress at The Gap that I'm going to buy. First, I wait for it to go on sale (today, for example, everything is 50% off). Then, I purchase a $25 e-gift card for $23.46 (saving 6.2%) AND I turn on my Ebates button, earning $0.23 (another 1%). When I shop at The Gap online, Ebates gets me another $1.50 back (6% of my purchase). At the end of this transaction, I've gotten $50 worth of stuff, and spent $21.73 (and saved 63%).
Now, I have a Gap card, so I get free shipping. If you don't have this, don't worry (in fact, it's a good idea NOT to open up a bunch of store cards) just use "ship to store" or "in store pickup" whenever possible. It saves you the shipping, as well as the urge to browse. I'm lookin' at YOU here, Target.
- Give memories - I love, love, love giving and getting gifts like these. My sister gave me a really amazing framed photo of the two of us at her wedding, and I have it in my office at work. For her wedding, one of my bracelets was her "something borrowed," and I gave it to her later as a gift. She wore it yesterday to my cousin's wedding, adding to the sentimentality of it. Photos are easy to print, and really nice (yet inexpensive) frames are easy to come by at Tar-jay, Homegoods/Marshalls, or the craft store.
Is there a sentimental or favorite family recipe? You know, the one that grandma always made? Frame the recipe and include the finished product too!
Want to go beyond a picture frame? Shutterfly and Zazzle have perpetual sales, and you can get most any pic on a calendar, blanket, mug, candle, planter, magnet board, etc.
And finally, last Christmas, my brother-in-law gave everyone in the family a mason jar and a pen to write down all of the good things that happened in 2017 so we could share them all next Christmas. It's been fun to put things in the jar this year, as well as to "cheat" and read them every once in a while.
- Show extra thought by giving gifts from trips - If you travel even a little, snagging some items on vaca can make for killer gifts later. For example, my sister bought me a scarf in Ireland that was made there. A scarf from Banana Republic or Nordstrom wouldn't have been as special, but the Irish scarf is. Similarly, we've bought Nessie ladles in Scotland ($12), fancy tea in England ($6), and even funky recycled grocery bags in Hawaii that show Hawaiian foods and recipes ($3).
And look, it doesn't have to be from an island to be special. Peanuts or pottery from Williamsburg, local bbq sauce from North Carolina, a glass ornament, art print or honey from the Maryland Renaissance Festival are all great ways of saying "I did something fun and remembered you while I was doing it!"
Tip: For non-cheesy, reasonably-priced local gifts, hit up the gift shop in pretty much any museum.
- Do Your Thing - Okay, before we talk about this one, as yourself, "what hobby do I have that is good enough that I could open my own online shop?" The reason to ask this question is because it's easy to fall in to the Instagram/Pinterest trap of trying to make your own gifts, and ultimately it costs way too much time, money and sanity. So unless you already make bath bombs or soup mixes for fun, don't start now.
But! Do you paint? Sew, knit, or cross stitch? Bake or cook something your family and friends rave about? Home brew? Are you a photographer? Makeup artist?
And look, this doesn't have to extend to only artsy stuff! One year my cousin who has his own lawn care business gave me 4 cuts of my (at the time very sizable) yard, and it was a much appreciated gift!
(Hmmm, I wonder if I could start handing out certificates for resume writing or career advice?)
6) Do good, give less 'stuff,' and harness tax donations (if you itemize) with Charitable Donations
This is a great idea for people that don't need anything, those wanting to downsize/declutter, and/or friends who are passionate about a particular cause. Just a few ideas:
- Sisterhood Soap - $10 from Preemptive Love Coalition and you get the soap to give!
- Leash, bowl, and collar for a puppy behind bars - $10, and you do not get the puppy or the items; but you your recipient gets a holiday card noting the gift that you gave. (Look for the option to send the card closer to December.) You really should read about this awesome charity.
- Poop Power - $12, thankfully, you do not get the poop. You do get a card with a picture of manure on it. (This is one of my father-in-laws favorite things I ever got him.) For $24, you get twice the poop power!
- Vaccine Carrier - $19, you also don't get the vaccines--ideally you don't need them. Your recipient gets a card.
- No More Chemo Party - $25 and the kids get the party!
- Narwhal - $25, you get an adoption certificate and a photo. For $55 you get a narwhal!
Look what else you can do with those grocery store paper bags & craft store ribbon! (Burlap fabric is pictured, but you get the idea.) This is a great gift idea for someone who has everything (hi, grandma!), a hostess gift, or for a coworker. Remember to wrap the stems in foil or a plastic bag so they don't leak.
 |
| Two $4 grocery store bouquets, $3 spool of ribbon, $0 paper bag = $11 for a sweet gift |
Want to give cash? Need to make $1-$40 (or more) seem more thoughtful than bills in a card?
- Get your origami on! My aunt did this one time for my birthday--she clipped lots of $1 bills to a length of twine with mini clothespins, and there was a note saying "I got you a line of cash! Super cute. Here are some more ideas:
 |
| This looks to be about $40, but you could make your tree lot whatever size you want. |
 |
| $20 and a great gift for the person who loves Mr. T and/or gangsta rap. |
 |
| As low as $1! |
- Give lotto tickets for a lot of fun and (maybe?) a little bit of money. You know I'm normally of the philosophy that "the lottery is a tax on people who are extremely bad at math." However, the $2 scratchers can be a fun little extra, or a good coworker gift ("if you win, you can quit your job!")
9) Give gift cards with a little extra glam
There are times where giving a gift card really is what someone wants or needs. How many times, though, has this scenario played out at the grocery store:
You're scrambling at the last minute, so even though your budget was $20, you spend $25 because that's what's available on the gift card kiosk. Then you need a card to put it in, so that's another $4.99 for a generic sentiment. You just overspent by 33%. Plan in advance, and avoid both the I-was-rushed-at-the-grocery-store presentation, as well as spending more than you intended.
Did you know that Amazon will mail gift cards in adorable little packages for just the cost of the gift card? You can get an adorable cupcake tin, a mini graduation hat, a tiny Amazon box, a holiday box with an evergreen sprig, an ornament, lots of colored boxes with matching bows, as long as your gift card is $25 or more.
 |
| It's an ornament! |
 |
| It's a graduation hat for your cat or chihuahua! |
 |
| It's precious! |
 |
| So pretty! |
 |
| So many options! |
10) Give a free teacher gift that will be immensely appreciated.
This advice comes straight from the 2 teachers I'm related to, who are just shy of 50 years of combined experience. Teachers don't want the following: candles, mugs, lotions, soaps, candy, or suspect baked goods. "What are suspect baked goods?" you ask. The answer: cookies or food made by kids who aren't the world's most stellar hand washers. Yes, the teachers know, and they talk about it in the teacher's lounge.
 |
| Noooooooooooooooooooooooo! |
Really dying to give them A Thing? A small gift card to Target, Starbucks, Total Wine, or Amazon is the way to go. And Special Hint from a Teacher: e-mail another teacher in the same grade and she/he will tell you if your child's teacher drinks wine, coffee, or whatever, so you can get them a gift card they'd like.
So pick your strategies! And to prove how this works, here's how all these little changes could add up to save you half (or more!) of your budget:
- Don't buy for yourself, or cut your "treat yo'self" moments in half - Save $65-$130
- Assuming a $25 gift, agree not to exchange gifts with 2-6 friends, and have dinner with them at your place or theirs instead. - Save $50-$150
- Eliminate 2-6 ten dollar coworker gifts and do a potluck instead - Save $20-60
- Spend only $5 on gift wrap supplies (ribbons, a marker) by recycling or upcycling - Save $10-$25
- Create your own cards, or better yet, e-mail a holiday card and letter! Save $19-$55
- Give teachers a gift that really matters, by writing them a thank you note. Save $10-20
- Cut your remaining costs in half by spending time and sentiment on gifts instead of money. Save $100-350
Final Step - Start Saving Today
Open up a Savings Account that isn't associated with your regular bank (I'm a big fan of DiscoverBank). Then see your HR Lady or Gentleman about automatically direct depositing a set amount per check to that account.
If you're going to spend $500 during the holidays, put aside put $41.67 aside each week in October, November, and the first three weeks in December. That's $83.34 per pay period if you're paid bi-weekly, or $100 per pay period if you're paid semi-monthly. Note: if you're saying to yourself, "self, I can't put that much away per paycheck right now," that's okay. It just means that you need to go back to your holiday budget and make it more realistic to your current financial situation.
Then, after the holidays are over, continue putting money in that account, and congratulate yourself on no January holiday debt! :)
Open up a Savings Account that isn't associated with your regular bank (I'm a big fan of DiscoverBank). Then see your HR Lady or Gentleman about automatically direct depositing a set amount per check to that account.
If you're going to spend $500 during the holidays, put aside put $41.67 aside each week in October, November, and the first three weeks in December. That's $83.34 per pay period if you're paid bi-weekly, or $100 per pay period if you're paid semi-monthly. Note: if you're saying to yourself, "self, I can't put that much away per paycheck right now," that's okay. It just means that you need to go back to your holiday budget and make it more realistic to your current financial situation.
Then, after the holidays are over, continue putting money in that account, and congratulate yourself on no January holiday debt! :)
