While it’s an undeniable fact that giving is better than receiving, this only applies if it doesn’t put you in a financial pinch. After all, most of us have little more than a modest budget to work with, and we have a better chance of fulfilling our gift-giving obligations by taking a more economical and frugal approach. To this end, here are a few simple ways to keep yourself from overspending and save more money on gifts.
Keep your eyes open for cheaper alternatives
It’s not difficult to overspend when it comes to buying gifts. After all, a lot of us tend to purchase the first item that we see. Instead, always take your time and carefully compare all available options first. Doing so might be a little more time-consuming, but it’s well worth the effort since you’re far more likely to find cheaper alternatives and money-saving deals if you’re actively looking for them rather than if you weren’t.
Avoid making purchases using your credit card
While credit cards are undoubtedly useful in emergency situations, they can also make it harder for us to limit our expenditure, especially when buying gifts. As such, it’s a general rule of thumb to always stick with cash if possible. Money on hand will, after all, give you much better control over the budget. More importantly, you will mitigate the risks of being in debt and behind on your finances.
Re-gift items that you don’t use
From books and clothing to accessories like watches and jewellery, re-gifting things that you own but don’t use is an excellent way to save money on presents. After all, there’s hardly any point in buying new if you already have perfectly good items to give. And even if they’re not in pristine condition, you can make them look like new without spending a small fortune in doing so through the services provided by businesses like davidcarpenterwatches.com.
Opt for wholesale purchases
These days, it’s not uncommon for people to buy wholesale rather than purchase individual items to serve as gifts, and for a good reason: buying in bulk is not only a cheaper option but also a lot less tedious of an approach as well. And while getting the same thing for everyone on your list may sound tacky, remember that gift-giving is all about the act rather than the present itself and there’s no shame in working with what you have.
With all the challenges that it presents, it’s easy to see why gift-giving can appear to be a very expensive proposition. But the task doesn’t always need to be expensive, and you can actually do a lot with a little cash, with a little bit of effort. And by keeping the money-saving methods and strategies listed above in mind, not only will you be able to afford gifts for everyone on your list, but you might even save a little more money for yourself too.