It’s a fact. If you don't plan ahead, giving gifts can really be expensive. Christmas is just around the corner, so we need to jump on the planning bandwagon pronto! Having a plan will make it much easier for you to shop for gifts, have peace of mind and enjoy that “on the move” hot chocolate! Now it goes without saying that the most important thing you can do is to make a gift-giving budget and put money aside each month throughout the year for that fund aka a Christmas sinking fund. Learn how to start your 2023 Christmas sinking fund here.
When making a gift budget, it's important not to just pick a number at random. Birthdays, anniversaries, and holidays like Christmas should be taken into account. Figure out how much you want to spend on each person, and then add those amounts together to get your gift budget for the year.
After you have determined your spending limit, you should increase it by 15% so that you will be prepared for any unforeseen expenses that may arise throughout the year in the form of presents. Take that total and divide it by 12, and that will give you the amount that has to be set aside in your gift-giving budget each month. Talk about preparing for Christmas gifts, am I right?
Here’s a really great Hot Chocolate recipe and the best “on the go”coffee cups according to Vogue.
When saving money, DIY (do-it-yourself) gifts are excellent. They are incredibly considerate and let you use your creative skills. A picture frame, candle, self-care kit, care package, note, or song are excellent examples of homemade gifts. A great inexpensive present is anything you can make that you know someone will utilize. Whatever your craft, you can make a thoughtful, one-of-a-kind gift, whether you knit, crochet, paint, bake, cook, weld, or sew.
For people who feel they lack artistic or creative talent, there are a ton of tips and lessons available on YouTube and Pinterest. Keep in mind that making and researching handcrafted presents takes time. Planning ahead will help this choice operate best. Be aware that certain DIY projects may cost more than simply purchasing the item; in that case, take the best course of action for you.
If you go the practical route, you can rest assured that the present will be put to good use and the money won't go to waste. You can save money by making your own gift baskets instead of purchasing a pre-made one. You may spend as little as $20 or as much as $30 per recipient on useful presents. Any present that you know the person will actually use is a practical gift. For example here are some cool ideas:
Carefully considered, heartfelt presents are always well received. If you want to go the additional mile in showing your appreciation, consider giving a present with some sort of personal significance (plus points if it's also something you made yourself). The knowledge that you have about the person is as important as the gift itself when it comes to selecting a meaningful present. A thoughtful and heartfelt present may be something they casually mentioned like or wanting, or something with significant personal significance, like a framed ticket stub from an unforgettable first date. The price of such a present is open-ended, much like that of a handmade one.
There is a proverb that goes something like, "The thought is what counts." The prospect of shared experience can be more satisfying than receiving a material present for some people. By making a concerted effort to spend time together this year, in whatever form it takes (in person or online), you may save money. It's all about the memories, not the trinkets, this year.