Of course, you are not required to divide your spending equally. For example, you can give your closest family members more significant gifts while giving little token gifts to others who are less connected to you, such as neighbors and distant friends. Alternatively, you might set a larger limit for a friend with more moneyed interests and a lower limit for one with less affluent tastes.
The point is simply to have a budget in mind for each gift before you begin shopping. That way, you’ll know that sweater isn’t the perfect gift for your sister unless it’s also the ideal price.
When you have a limited gift-giving budget, splitting it up into even smaller bits for each recipient can feel restrictive. However, when viewed in a different light, a tiny budget might help you unleash your creativity. When you have a limitless budget, it is easy to replace money with actual thought. Of course, if you don’t have any ideas, you may always buy a gift card with cash.
When you only have $15 to work with, you have to think creatively. To come up with a budget-friendly idea, you must first determine what this person truly enjoys. So instead of reaching for that expensive sweater, consider your sister’s passion for science fiction and select a best-selling sci-fi novel.
Shrink Your Gift List
Even if you only spend $15 on each item, that adds up to $750 if you have 50 individuals on your shopping list. So, to keep your holiday spending under control, you’ll need to reduce the amount of your shopping list.
Giving gifts to fewer people saves you time and money because the fewer people you have to shop for, the less time you spend fighting holiday crowds and wrapping presents.
The issue with reducing your current list is that it may result in damaged feelings. If folks who have become accustomed to receiving a gift from you every year do not receive one this year, their first thought maybe that you are upset with them for some reason. Even if you explain that you’re merely cutting back on gifts to save money, they may be irritated that they were left off the list.
However, there are strategies to reduce your current list without jeopardizing your relationships:
Discuss it. Inform your loved ones of your desire to buy fewer gifts this year. It’s probable that some of them are also concerned about holiday expenditures and may welcome the chance to cut back. You can devise a strategy to reduce gift-giving that works for everyone. For example, you can all agree to give significant gifts to the children in the family, while the adults-only get stocking stuffers.
Give a Gift to the Family. Rather than buying a gift for each individual, consider purchasing one for the entire family. For example, instead of obtaining individual facilities for your brother, his wife, and each of their three children, you might offer them a board game that they can all play together. A gift card or gift certificate for a family supper at their favorite restaurant is another choice. You may also buy one present for each child and one for the adults.