How to Save Money on Holiday Presents

IMAGE CREDIT: David Everett Strickler via Unsplash

The holiday season is coming up quick, which means you'll be spending some money on presents for your loved ones. It's easy to drop a lot of money really quick, so here are a few ways to save. This way you can enjoy the holidays and not be overwhelmed with your bank account.

Gift Exchanges

Have a large group of friends, family or coworkers you need to celebrate the holidays with? Organize a gift exchange! This way you’ll only need to worry about buying one gift, versus multiple. Plus, if you all agree on a set price, you’ll be able to account for this in your budget. You can also make a fun party out of it! Invite everyone over, share some good food, and exchange presents to celebrate the holidays.

Make a budget

As everything else in your life, you should probably make a budget. Figure out how much you would like to spend on gifts, and delegate that number out between everyone you need to buy for. This way you’ll know exactly how much you plan to spend and you can hold yourself accountable when you’re about to go over your set amount.

Make a list in advance – and stick to it!

Before you just hit the stores shopping, sit down and make a list of what you want to buy everyone. Similar to a budget, this will keep you in check while you’re shopping. Rather than impulsively buy, you’ll be reminded of your original plan.

Hit the sales

Check the stores’ websites you’re planning on visiting before you shop – maybe they’ll be a sale, online discount or coupon. You can also check to see what store has the item for the cheapest, rather than shop around in person.

Don’t buy gifts for yourself

Remind yourself you’ll also be receiving presents in a few short weeks, so you won’t need to buy anything during your haul. Keep your family and friends in mind, and you’re bound to spend less money.

Make your gifts

Put together a recipe book, frame a photo, or make some baked goods – these are all presents straight from the heart, and you don’t have to drop too much money to make someone happy.

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