8 Ways to Avoid Overspending on Holiday Gifts

Best Holiday Gift Ideas for Seniors 2020 - Giving Care by Silvert's

According to data from the National Retail Federation, Americans will spend more than $586 billion on holiday shopping this year. NRF estimates that the average holiday shopper will spend $750 on gifts, cards, decorations, etc. Although it is very important to save your time, sanity, and extra cash that you might usually spend on holiday gifts. Following are some ways by which you can easily avoid spending too much money on shopping:

Make a list, check it twice

Create spreadsheets, Google documents, and even hand-written lists of people you want to buy the gift for. My column includes the column of the person I want to buy the gift for, the idea of ​​the gift, the quantity of the gift, and a column for the place to provide more information about the gift (this can be a direct link to online purchase), and whether the gift was purchased or needs to be purchased. Divide friends, family, and relatives into different groups. I also made a list of people who will only receive holiday cards instead of gifts.

Make a budget

You can say “I will only spend $300 on gifts this year”, although in theory this may be a good idea, it depends on the number of people you want to buy the gift for. Try to prioritize everyone and set a price cap for everyone’s gifts. I might spend more money on my mother than my aunt in New York.

 Don’t rely on retail stores

The internet will tell you at the right time only whether the item you want to purchase is out of stock. Whereas retail stores will only tell you when you arrive, search, and return empty-handed. Before going on foot to buy, you should always have a mindset regarding whatever item you wish to buy.

Buy the same thing more than once

If you have a large group to buy the gift for then consider stacking gift cards for several different people. For example, Costco sells certain gift cards worth $100 for $80. 

Split the difference

If you plan to give someone a big gift, but you know you can’t afford it, please discuss with your friends and family about dividing the payment among several people. Last year, my family bought a new TV for grandma, and many of us did our best to contribute to it.

 Don’t be afraid to ask

You would rather give someone something they like than something they would not use at all. Although you may want to keep up with the tradition of surprises, just find out someone’s needs or needs and it will not hurt you. Asking your loved ones to send you the lists they want via email, or asking them to start with Amazon Wish Lists, will help a lot.

Prior use doesn’t mean second-rate

I started going to second-hand stores and thrift stores, looking for good records that cost $1 instead of $20. This is a good sign for books, household appliances, tableware and even furniture. If someone you know someone who needs some household items. You should check the thrift store for outdated products on regular basis.

 Compare prices

Physical stores continue to look for ways to compete with Amazon and other online retailers, so please check prices online first. Use Amazon’s Price Check app (Android and iPhone) to see if you can buy online cheaper. Also, make use of price comparison sites.

Add a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.