Episode 48
The Holiday season is upon us and with it comes the traditional Christmas gift buying season.  On this episode we share some spending tips and ways to think about spending on gifts to make your holiday spending less expensive and your Christmas more enjoyable.


Holiday Spending Tips

  • Set a budget for your holiday spending.

  • Plan your gift buying - decide who you will buy for and how much you can afford to spend on each gift.

    • Check out the Gift Planning Tool under resources below.

    • Remember: people who love you would rather get something small or nothing at all rather than to see you go deeper into debt.

    • Be honest and open with your immediate family about what you can and cannot do.

  • Holiday is about time with loved ones not just about gifts.  See if your family or friends would be open to skipping the gifts and instead getting together to celebrate (like a Super Bowl party).  Everyone pitches in, you have a lot of fun, and no one feels obligated to spend money they may not have!

  • Suggest a grab bag gift exchange -There are many variations of this game - Google it!

    • Each person buys a gift and brings to the party.  You can place a number on each gift or just put them in a pile. Write a number on a piece of paper for each person and put them in a basket or hat.  Draw to determine which gift or order of picking.

    • Limit each person to one gift of a higher value (Ex. 6 people each pick a name out of a basket and buy that person a gift for a slightly higher value - instead of buying 5 gifts of $50 each you buy one gift for $100 saving you $150).

  • Find and use coupons and discount codes - retailers are looking to incentivize you to spend.   Discounts and % off is how they are trying to get your attention.

    • Whatever you’re buying search for a coupon or a discount code online.  There’s no reason you should pay full price for anything at this time of year.

  • Barter with online stores - use the chat feature on the websites to ask for a % off to purchase from them.

  • Earn store gift cards or store cash from purchases and make your money go further.  But! Stay away from 10-15% off with purchase offers with credit card sign up.

  • Buy gift cards and save - many retailers are offering discounts for buying their gift cards such as buying a $100 gift card for $85 dollars. You can then use these to do your shopping or give them as a gift.

  • Leave the credit and debit cards at home - buy with cash to ensure you stay within your budget.

  • Don’t buy a gift for yourself.  This is the season of giving and receiving not buying for yourself.  Since you will no doubt receive one or more gifts this season, why not save some of your money by not buying something for yourself?



Gift Planning Tool
Gift Planning Tool Video