Shopping for the holidays doesn't have to leave you broke. With some planning and a willingness to try something new, you can get through the holidays without a bleeding credit card. As long as you know your limits and are willing to work within them, holiday shopping will you keep you happy and keep your pockets full.
Step 1
Make a list of each person who is getting a present. This includes not only those close to you who will get more expensive gifts, but also co-workers, acquaintances and even your son's teacher.
Step 2
Trim down the list. For family members you rarely see or those who are not very close, you may want to give a family gift (something that everybody in the family can enjoy) rather than a present to each member of the family. This will save a lot of money. Also, get rid of any names you don't actually want to shop for, such as distant relatives or co-workers you only talk to occasionally.
Step 3
Write down an amount next to each name. This will be how much money you can afford to spend on a present for that person. Numbers don't have to be exact. Add up the totals to see how much money you need. If it exceeds what you were hoping to spend, play with the numbers to see where you can save.
Step 4
Pay with cash. Take the total amount and carry it along in an envelope. Pay for all presents from the envelope. You'll be more likely to pay attention to your budget if you see the stash going down.
Step 5
Take the list with you wherever you go. You never know when you may run into the perfect gift that fits your budget. Once a person gets something, cross the name off the list so you don't accidentally shop twice for the same name.
Step 6
Shop the discount stores first. You may be able to find something unexpected, like a small bath gift basket or a desk stationery set. Try to shop with an open mind. That will make it easier to find presents.
Step 7
Figure out a list of things you can get for free and take out of the budget. These include gift wrapping or gift bags, which many stores offer for free, or things you can make at home, such as gift labels (use old Christmas cards). Brown paper can be decorated with stamps or ribbons to replace expensive gift wrap.
Tips and Warnings
- Start early if possible. Instead of waiting for the holiday season to arrive, save money throughout the year for your holiday shopping. Or buy presents as you find them, when items come up on sale or you can afford to.
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