Smart Christmas Shopping: Tips to Save Money on Gifts

Christmas is the time to treat your loved ones with nice presents and spread the joy of giving. Yet, sometimes, gift-giving just adds up to the pressure, as people struggle to buy presents for everyone and stay on budget. Below, we will share simple strategies to help you enjoy the holiday giving without getting into debt. 

11 Simple and smart strategies to save on Christmas presents 

Create a savings account

If you dread getting into debt after holidays, start a separate account for Christmas gifts. Set it up early, for example, in summer, and either transfer a fixed amount each month or save small change every time you shop for something. If you stay persistent, by November you’ll have the amount you need to cover the price of gifts. 

Set up a budget 

Smart spending starts with planning, and Christmas gifts are no exception. List every person you plan to buy a gift for. Include everyone: family, kids, close friends, coworkers, neighbors, and your dear ones who live far away. Next, you have two strategies: 

1. Set a fixed amount. Say, you can spend $550 on gifts this year. Think about how much you can spend on each person so you don’t exceed this amount. 
2. Set a separate budget for each giftee. For example, you allocate $50 for a gift for your spouse, $40 for your parents and sister, $25 for coworkers, etc. 

Stick to a budget to avoid overspending and get a nice present for everyone on your list. Make sure to include the cost of wrapping and shipping in your gift budget. 

Prioritize 

When setting a budget, you may find out that you are exceeding the budget or have too many gift recipients. In this case, it helps prioritize the giftees based on their importance. Thus, your family and close friends go at the top of the list. 

If you’re out of money to get presents to those at the end of your list, you can skip getting them gifts or get creative. Say, you can give them a DIY item, buy a gift from the second-hand store, or regift something you have. 

Organize a gift exchange game

One of the best ways to minimize holiday gift spending is by playing a gift exchange game, such as Secret Santa or White Elephant. You buy only one nice and thoughtful gift for a family member or coworker, and organizing a group activity makes the gift exchange process so much fun. 

You can play Secret Santa with your family, a group of friends, coworkers, and even an online community. 

To organize the exchange smoothly, try our MySanta app. Here’s how it works: 

1. Create a new game and invite participants with a link. 
2. When everyone joins in, draw names to see who gives a present to whom. 
3. Set a gift budget (say, $35) to keep the exchange equal. 
4. Each player shares their gift preferences to make choosing the gift easier for their Santa. Or, create a Wishlist with links to specific items you want to get exactly what you dreamed of. 
5. Set exceptions if some friends don’t get along with each other, or exclude couples from giving to each other. 
6. People bring wrapped gifts to the party, unwrap them, and guess who gave presents to them! You can add fun charades, quizzes, or trivia questions to make the reveal fun. 

Try our MySanta app

Create wishlists, add exclusions, and communicate with your giftee secretly. Moreover, there is an option to track gifts and ensure that everyone buys a present on time.

Start

Start early 

For many, October is the best time to buy Christmas gifts. It is perfectly okay to start getting presents in mid-December, but if you really want to save money, it makes perfect sense to start months in advance. Here’s what you can do exactly: 

1. Add items to your shopping list to keep an eye on them and track the price 
2. Compare prices with different retailers – more on that below 
3. Find similar items cheaper – online retailers can suggest more affordable items with similar functions
4. Use sales and promotions, for example, Black Friday sales to shop the chosen items for much cheaper. 

Also Read:

White Elephant Gift Exchange Ideas & Game Rules

Read

Make a wishlist 

Create a wishlist early and add items you’d like to get for Christmas. Thus, you can send the link to the wishlist to your spouse, friends, and colleagues so they can buy you something you will truly enjoy. 

Our MySanta app has the Wishlist function which you can use even if you don’t play Secret Santa. The wishlist we offer has gift suggestions based on your age, gender, and location, so you can use it for inspiration and gift ideas, and browse discounted items from online retailers. 

Benefit from price matching 

The price matching option some large retailers offer helps you get items for cheaper if the other stores offer them at a lower price. Last year, this option was available in Target – they price matched goods online and in stores, so you might want to check for updates this year. Walmart offers price matching all year round, so you can take advantage of it when shopping for gifts early. 

Also Read:

Work Gift Etiquette: How to Give the Perfect Christmas Gift at Work

Read

Make use of your old gift cards

Chances are, you have gift cards to places you don’t visit or store points. Why not use them to buy gifts for someone on your list? For example, if you have a $50 card to a wine store and you don’t drink alcohol, buy a couple of nice wines and give them to someone who enjoys it. Or, use your Sephora points to buy self-care items for a coworker. Thus, you will buy presents spending very little or nothing at all. 

Use coupons 

Older shoppers remember paper coupons found in newspapers. Today, coupons have gone digital – some services are available as browser extensions or mobile apps. For example, Ibotta helps you earn cashback for any purchases in popular retailers. After the purchase, you can submit the receipt, and earn cashback, and once you earn $20, you can deposit it into your bank account. Plus, new users can earn a welcome bonus.  

Shop at unusual places

Think beyond popular retailers when shopping for gifts. Head to yard sales, swap groups on social media, thrift stores, and more. You can find great books, items for home and garden, and furniture there, and the giftee won’t see the difference. Plus, in such places, you can purchase unique hand-made or vintage things you won’t get anywhere else. 

Save on wrapping 

Expensive, high-quality wrapping looks beautiful, but is it worth it? You probably won’t remember how your gift was wrapped, so don’t overspend on packaging. Here’s how you can save: 

1. Check out the Dollar Tree or similar discounted store for inexpensive yet nice gift packaging.
2. Save bags, wrapping paper, and ribbons from the gifts you receive to reuse them.
3. Get creative! Make DIY packaging using old boxes, colored paper, old magazine pages, jute, and other items found at home. Thus, you will spend zero dollars on packaging and help the environment. 

How do you save on presents for kids? 

Every loving parent wants to get something special for their little ones. To save on presents for kids, parents often limit gifts per child or give DIY or upcycled items. Here are the specific ways of saving on gifts this year: 

1. Use the “Want, need, read” rule. Stick to three gifts for each kid to make them feel special without overspending. Get them one item they’ve asked for, one practical item (such as a piece of nice clothing or a tech gift), and one good book to foster their love for reading. 
2. Upcycle. Getting an item in a second-hand store and upcycling it will add a personalized touch to the present. 
3. Keep stockings simple. Use small, affordable goods such as candy canes, snacks, and fun socks to fill the Christmas stockings. Or, add items that you’d buy for your kid anyway, such as lip balm, stickers, and colored pens. 

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