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Being a smart Santa with your gift budget

When you’re under pressure to give that perfect present at Christmas it can be much harder to stick to a budget.

Find ways to make your gift budget go further with our top tips for giving generously without going overboard on spending.

  1. Be prepared

Taking time to plan how much you’ll spend on each person is a good start if you want to keep gift spending reasonable. There’s no harm in being open about this with family and friends, so nobody has to be anxious about what others might be expecting.

When discussing spending limits and making things fair, it’s worth keeping in mind that everyone has differences in their income, financial commitments and number of people to buy for. So it’s not necessarily a case of agreeing on the same budget per gift for everyone.

  1. Secret Santa

A Secret Santa or Kris Kringle approach to buying gifts can be the ideal way to make your budget achievable, without leaving anyone feeling like they lost out in the gift department. Agreeing a set amount for everyone to spend on a single person can work just as well for colleagues, friends and family.

  1. Be kid-wise

Another approach larger families often take is to limit gift-giving to kids only. After all, they’re usually the ones who lack the spending power to buy what they want and get extra excited about the chance to receive gifts as a result.

  1. Vouchers

Although some might write them off as a gift that hasn’t taken thought and effort to choose, gift vouchers can be the very best way to make sure friends and family get the gift they want.

  1. Give time

Another welcome voucher could be one that offers help with something you know a friend or family member struggles to get around to. Whether it’s babysitting, a DIY project or stocking the freezer with enough meals to last a week, the promise of your time and energy can often deliver a more valuable gift without costing you a single dollar.

  1. Pre-loved

Buying gifts second-hand from Gumtree, eBay or your local Facebook marketplace can be better for your wallet and the planet too. Not only does it save you money, it could also give a new home to something that would otherwise end up in landfill.

Source: Money & Life

Harpel Financial Group