How much do you plan on spending for gifts this holiday season? If you compare yourself to the average U.S. adult, plan to spend over $700. According to Gallup’s latest poll, you’ll spend an average of $720 on gifts this year; that’s quite a large amount to allot out of your budget, and for most, just isn’t an option. Check out our tips to save some dough on gifts this holiday season to make sure you don’t find yourself in debt for the new year!
- When planning for family gifts: if you have multiple children, it might be a good idea to plan for a few little separate gifts per child with one bigger, more expensive gift for all the children to share. This cuts down the expense of buying each child one huge gift.
- Set suggested price limits for gifts. This includes your older family members, friends, and coworkers. A spending limit is key, or just stick to doing a gift exchange including the whole group.
- Shop the sales! Keep your eyes open while you’re shopping for the perfect gift at a discount.
- Be mindful of the extra costs of wrapping paper and shipping – it all adds up. Use what you have and always look for free shipping coupons or other promotions when you’re online shopping.
Just remember, the real joy of the holiday season is spending time with your family and loved ones, not just spending money on them. Enjoy the holidays, but don’t go broke in the process! And, as always, start planning ahead for next year – the holidays will be upon us again before we know it!
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