WITH INFLATION DRIVING UP THE COST OF GOODS and supply-chain woes limiting the availability of many items, the arrival of another holiday gift-giving season may not be the most welcome development for some—especially those who took a hit in the pocketbook during COVID. While no one wants to go to holiday gatherings empty handed, spending lavishly on gifts is simply not the best option for many people right now.
So, how can you sidestep the usual December “spend fest” without being labeled the family or workplace Scrooge? Here are some tips that will help you play Santa while staying solvent this holiday season:
Bake your way into their hearts
Sure, baked goods are ubiquitous throughout the holidays, but an attractive plate of home-baked cookies or a decorative tin filled with homemade caramel corn is always a welcome gift—not to mention, it won’t cost you much except a little time and effort. Give a batch to each family on your list. If you’d like to add a personal flare to your cookies, write each family member’s name on his or her own cutout or gingerbread man in icing. Kids especially appreciate that little gesture!
Get crafty If you have a knack for crafting,
If you have a knack for crafting, there are myriad items you could make for the loved ones on your list. Christmas ornaments for the tree; decoupage picture frames; door wreathes or dining table centerpieces; necklaces, bracelets, or earrings; and stained-glass sun catchers are just a few of the possibilities.
Hit the thrift store
Your local thrift or antique store can be a great place to find interesting holiday treasures at reasonable prices. Unique items that match the recipient’s style, taste, and interests are often better appreciated than mass-produced goods purchased with little forethought.
Limit your list
You may want to buy something nice for everyone you care about, but this isn’t very realistic when you’re trying to stick to a tight holiday budget. Why not discuss ways to limit gift exchanges with your family, friends, and coworkers instead? For example, you might agree to do a “secret Santa” or white elephant exchange with your coworkers so everyone has to buy or furnish a gift for only one person rather than the entire office. Or, you could suggest to your extended family that gifts be given only to children, not adults. If the idea of limiting your gift-recipient list isn’t greeted with enthusiasm, another cost-cutting option is simply to set a reasonable spending limit for each gift.
Offer your services
Who says holiday gifts have to come in boxes or bags? As an alternative, you could give the gift of your time and energy to someone who could use a little assistance. For instance, you could offer to shovel snow for an elderly loved one; grocery shop for someone with a disability; baby sit your nephew, niece, or grandkids for an evening (or weekend if you’re feeling ambitious); or offer a respite to the adult caregiver of someone with a disability, chronic illness, or dementia. Such gifts from the heart will be esteemed much higher than yet another knickknack or ill-fitting sweater.
Teach the importance of delayed gratification
Every year, some new, must-have toy, game, or gadget hits the holiday market. Not wanting their kids to feel left out, parents are willing to spend a premium—in some cases, a significant portion of their holiday budget—just to make sure this latest, greatest item appears beneath the tree. But these emotion-driven expenditures are a really bad idea on two counts. Not only do they sabotage your plan to limit holiday spending and probably push your credit card debt sky high, but they also promote in children a distorted sense of the value of material things.
Don’t buy into the hype! Whatever the hottest new item is this year, there’s a good chance it will be available in a few short months at a much more reasonable price—assuming your child will still want it by then.
