How to Save Money on Gifts

Gift giving is an act that most everyone enjoys participating in, but it can also be very expensive and difficult to budget. Some people budget their gift giving for the entire year, but sometimes you must come up with a gift on short notice or you may find that the gift you have already bought is inappropriate for some reason. Plan, budget, and be prepared to save money on gifts.

Instructions

1. Budget money for gifts just as you would for your car payment or your electric bill. If you know you have ten people that you buy gifts for every year and you would like to spend about $20 per person then you would need to budget $200. Since other unexpected gifts come up during the year (such as weddings), you should also add in some extra money to cover those gifts.

2. Plan for unexpected gifts throughout the year. If you receive a save the date card for a wedding in three months and you know you will have to bring a gift, begin saving at that time. If you spend $50 on the gift, you only need to save about $4 a week.

3. Buy in advance to save money on gifts when you can. Children often have a specific gift in mind for their birthday or holiday gifts, and these gifts can be expensive. Search for sales featuring the gift and buy it early.

4. Search the Internet for gifts. Not all deals on the Internet are good but by using cost comparison sites, you can often find a low price.

5. Keep generic, gender non-specific gifts at home for times when you forget to buy a gift or for an unexpected event, such as a baby shower or housewarming party. Some examples include candles, blankets, or gift cards to local restaurants or stores.

6. Purchase gift-wrap and tape before you need to wrap gifts. Often gift bags, wrapping paper and ribbon go on sale after the holidays and you can pick up all of your gift accoutrements for the year. Buy solid colors of wrapping paper or bags. Use non-holiday shades for gifts throughout the year.

Tips & Warnings

• Keep a running list of gifts, with special notes about the person such as their favorite colors, fragrances or hobbies.

Resources

• Pricegrabber Cost Comparison Website
• Google's Cost Comparison Website