The year is coming to an end and some of us may just be recovering from the aftermath of the pandemic, which wreaked havoc 4 years ago.
You may be looking for ways to put a tight rein on your spending, or at least, scrimp on a few non-essentials this holiday season.
Why not go through your gift giving list, check it twice, and cut back on your budget for Christmas presents?
No, I'm not telling you to act all stingy and Scrooge-like to the people closest to you.
Christmas Gifts: The Benefits of Cutting Back On Expenses
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Being more mindful of your budget for gifts reminds you of what's truly important this holiday season.
More than any tangible gifts, most of us are aware of what's more important than any Christmas present: getting together with loved ones to share the joy of the holiday season.
You can be more intentional with your Christmas shopping.
Sometimes, we give away items that we bought from a store or boutique because we think it's "chic," "trendy," or "oh, she'd be dying to have this."
But shopping within a budget makes us take time to consider what the recipients on our list truly need or want. We may also take note of their hobbies, tastes, and preferences.
"Inexpensive" and "affordable" doesn't mean "ugly."
Sometimes, we automatically equate anything affordable with ugly or unattractive.
The truth is you might be missing out on a lot of invaluable and practical items you can potentially give as Christmas presents by walking into less known shops or specialty stores, or give small businesses a try.
Frugal gift giving means less financial worries this Christmas.
Aside from a pile of bills, you have to come up with decorations and a holiday meal.
While you can keep the decorations down to a minimum and choose simple, fuss-free dishes, cutting back on your gift budget is another way to lessen your financial worries by the end of the year.
Imagine the fun of still being able to give Christmas presents away while maintaining the peace of mind that results in not busting your budget.
You may end up inspiring some (or even most!) of your friends, relatives, or colleagues to adapt a more frugal mindset when it comes to shopping for gifts.
Realize that the majority of those closest to you may also want to be more mindful of their budget, and thinking about cutting back.
Showing them that it's possible might influence them to get started on the following ways to cut their budget for Christmas gifts:
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(1.) Designate an amount.
Come up with a list and aim to be as realistic as possible about how much you can spend on each person on your list.
(2.) Trim your gift-giving list as needed.
You don't need to buy Christmas gifts for all the people closest to you.
With all the hustle and bustle of the holiday season, we simply can't say yes to every invitation to hang out or eat out, or be at a party.
To illustrate, if you have no plans to meet up with that distant cousin, or that aunt this year, leave them out of your list.
(3.) Shop year-round for Christmas gifts.
You never know when certain stores will sell their items at mark-down prices. Or you may be able to stumble upon a sale in April or May, or spot discounted bargains.
(4.) Look online.
Try the shopping apps Shopee or Carousell, or scour through Facebook Marketplace for budget-friendly Christmas presents.
A word of warning, though. Take time to read reviews and look at ratings to ensure that you're transacting with trustworthy sellers.
(5.) Give one gift that a couple or an entire family will appreciate instead of buying individual gifts.
If you live next door to a family who enjoys travel, give them a scrapbook kit so they can have a place to store their photos and other mementos from their trips.
If the family's more into indoor activities, get them adult coloring books, diamond painting kits, board games, or card games.
(6.) Give the 3 T's as gifts.
Time
Time remains to be valuable, and yet, not a lot of us have it.
You can let others have time by offering an act of service. You can babysit for a couple of hours during a weekend afternoon to allow a single parent to go grocery shopping.
For a sweetheart, long-term partner, or spouse, you can craft a booklet of about 12-15 (or more) coupons with an act of service or a special treat written on each coupon.
And then, make your sweetheart "redeem" those acts of service or treats within a certain time period (e.g. 90-100 days).
Talent
Think of a particular talent you have, and consider how it can benefit the people on your Christmas list.
You can craft a wreath or ornaments for your next-door neighbor if you have a good eye for color and design. If you can bake, make a batch of cookies or cupcakes, or even pet treats if you have recipients who own dogs.
Treasure
People nowadays aren't icky about receiving pre-loved items. If you have an old die-cut machine, you can offer that to a fellow crafter.
Or, you may be able to help someone who's taking music lessons by giving that old guitar in your basement.