Gifting Without Breaking the Bank
Good afternoon all! Yesterday evening we celebrated my grandpa’s birthday and spending time with my family is so valuable during this time and season in life. Today’s topic is coming in preparation for the holiday season. Frugality is something that we can so easily think should just be for us or those in our direct household, but I think that it is so important to maintain frugality through the holiday season.
I have found that it is particularly important to understand the importance of maintaining a frugal mindset through the holiday season, especially if you really love giving gifts. I am going to dive into the value of maintaining a frugal mindset through this gift-giving season, as well as some helpful tips to make the most of your gifts this season.
Part of living frugally is the understanding that life works so much more smoothly on a budget. While getting your whole life to fit into a budget can be daunting at first, there is such a vast amount of freedom that comes when you know exactly where your money is going from month to month and eliminating the worry of scrambling at the end of the month. Budgeting allows you to be able to build up some funds for large unexpected expenses, and you could even be able to lower the amount of debt in your life. I encourage everyone to adopt a budgeting mindset around the holiday season so that you are able to continue living life the way you are currently, without racking up credit card debt or dwindling your savings account.
This is my method for staying financially mindful during the holiday season:
Take a moment to sit down and write a list of people for who you plan to buy gifts, and if you are unsure about someone then I would encourage you to reach out to them.
Once you have compiled a list of people who you will be shopping for, make sure that you have determined a reasonable amount of money that you would like to spend during the holiday season. This is the total dollar amount. Once you have that determined you can divide it up accordingly.
Take time to make a detailed plan for each person ahead of online or in-person shopping. Think of some ideas of gifts that you would like to get for those on your list and be sure to keep your budget in mind. I like to think of practical and useful gifts.
Keep a list of the gifts that you’re thinking of purchasing, the amount you want to spend, and what you have spent already. I do this in a Google Sheet. I have a section where it has the total amount that I am comfortable spending, a column for the people I want to purchase for, and a column for the ideas that I am thinking about getting them.
Once I have purchased a gift for someone I go into my Google Sheet and put down what I purchased in a different column corresponding to that person’s name, as well as a column for how much I spent on their gift. This helps me keep a running total so that I can keep track of where my money is going.
To ensure that the gifts that I am giving aren’t going to go to waste, I try to think of gifts that are going to be useful to that person. Think about some hobbies that people in your life enjoy doing and then think about items that relate to things that they enjoy. This method of thinking works well for any budget size, and if you’re stumped on what to get someone then consider writing a thoughtful card, providing some tasty homemade baked goods, and a sum of cash as their gift.
I am well aware that cash is not the most thoughtful gift for someone to give, but I genuinely believe that writing out a card that has meaning and authenticity is worth more than the most thoughtful gift. Being able to include some cash is just a nice way for you to show someone that you would like to contribute to their life.
In preparation for this holiday season, what kind of budgeting tips are you planning on adopting? Do you typically plan ahead for your gifts?
I always plan ahead for my gifting because I like to be prepared and do not like waiting until the last minute for the bulk of my gifts. This year especially, with some traveling for the holidays, I have started my shopping rather early. Shopping early allows you to look for the best deals on certain items so that you don’t get gouged on price right around the holidays.
Consider purchasing from local companies this holiday season as well. If I know that I want to get someone a candle for Christmas, then I purchase from a local candlemaker as opposed to a big box store. I have found that I spend just about the same amount of money, if not less, and people appreciate the uniqueness of the local item so much more.
I am so looking forward to this holiday season for many reasons and I have been particularly invigorated by planning my shopping list ahead of time for this year. I sure hope that you can adopt this technique in your own way so that you too can have a financially feasible and peaceful holiday season. My hope is that these methods, or your own personal adaptation of such, will allow you to continue to live, save, and pay off debt while also being able to bless loved ones during the holidays.
What are your holiday plans and what are you looking forward to most this holiday season?
If you need some additional help with the planning of your gifting this season, gift ideas, or any questions, please feel free to comment on this post, send me an email at elegantlyeastcoast@gmail.com, or message me on Instagram. I would love to connect with you.
