How Not to Break the Bank on Holiday Gifts

Believe it or not, the holidays are only a hop, skip and jump away. You know what that means — gifts! Gifts are one of the most fun aspects of the holiday season. There’s nothing quite like finding the perfect gift that will thrill the person you’re buying it for. And who doesn’t love receiving gifts that have been handpicked just for them?
While gift-giving has become part and parcel of the holiday season, there’s no denying that there’s another side to it. Gifts can be expensive. Especially when you have a lot of friends. Or coworkers. Or children. A gift that costs only $25 can suddenly turn into $100 when you have 4 people to give to.
So how can we maintain the joy of holiday gift-giving without breaking the bank? Here are 5 ideas.

1. Budget

First things first, right? If you want to keep a lid on your holiday spending, you need to know how much money you have available. Creating a budget will help you do that. You can plug in how much money you have, who you need to buy presents for, and then see how much money you can spend on each present. There are plenty of budgeting apps to help you so you don’t have to do it alone.

2. Make a list — and stick with it

Once you know how much money you have to spend, you can start looking for gifts that fit the bill. Before buying, browse. This way, you can create a neat list of what you want to buy for each person. Now, here comes the hard part: sticking to your list. If you commit to sticking to your list and avoiding impulse buys, you have a good chance of staying within your budget.

3. Shop with Cash

When shopping for holiday gifts it can be tempting to pull out your credit card and worry about paying it off later. Avoid this urge! Remember the budget you created? Stick with it. Just because you can put something on a credit card doesn’t mean you should. Also, research shows that people are apt to spend more with a credit card than they are with hard cash. When you pay with cash, you know exactly what you started with and exactly what you have left. Then you can use your handy budgeting app to keep track of all your purchases.

4. Shop Sales

Sometimes, sales shopping can result in impulse purchases. After all, if you see decorative candles on sale for $2 apiece, how can you not buy them? But these are not the sales we’re talking about. Buying on sale will save you money only when you stick to your budget and list. When you know what you want to buy, you can shop around for the best deals. Alternatively, if you find something that’s not on your list but costs the same, you can change your list. Just don’t buy double! Black Friday and Cyber Monday are typically great times to find killer sales on large and small items.

5. Go the Homemade Route

Buying retail is great, but getting a homemade gift can be absolutely lovely as well. While you need to know your audience for this one, creating something yourself can result in a unique and special gift. Homemade jewelry, photo collages, scrapbooks, and gift baskets are just the beginning. Check this out for more inspiration.

It’s the Thought That Counts

It may be corny, but holiday gift-giving is usually more about the thought than the actual gifts. Buying or creating a gift that’s thought-out and especially suited for a specific person shows that you put a lot of thought and effort into it. Moreover, it’s a way to show the people in your life that you care about them.

Budgeting and keeping track of spending doesn’t mean you love these people any less. It just means you’re being responsible.
Another area in which budgeting is important is life insurance. Many people think life insurance is too expensive, but they don’t realize that it can actually be very affordable.
Sproutt insurance advisors are available to help you determine what kind of life insurance is best for you. Simply answer a few questions and we will find the best-value plan for your lifestyle, needs, and budget.

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