20 Genius Tips to Save Big on Gift Giving This Year
Giving gifts is one of life’s great joys, but it can also put a serious strain on your wallet. Between holidays, birthdays, graduations, weddings, and other special occasions, the costs of gift-giving can add up shockingly fast. However, with a little creativity and advance planning, it’s totally possible to give thoughtful, memorable gifts without going broke in the process. In this post, we’ll share 20 clever tips that can help you save money on gifts while still being generous.
1. Make a gift budget and stick to it:
Before you start shopping, make a list of everyone you need to buy gifts for and set a total budget for gift costs. Then divide that total amount by the number of people to set a per-gift budget. Having these numbers clearly defined will prevent overspending and help you save money on gifts.
2. Start shopping early:
Don’t wait until the last minute when stores jack up prices and options are limited. Starting your gift shopping early allows you to hunt for deals, buy off-season, and take advantage of sales – all great strategies to save money on gifts.
3. Use cash-back apps and websites:
Apps like Rakuten and sites like RetailMeNot can help you earn cash back at thousands of online retailers. These savings add up quickly over time, allowing you to save money on gifts.
4. Buy discounted gift cards:
Websites like Raise sell discount gift cards that people don’t want, allowing you to save 5-25% or more. Just make sure the recipient will use the card – it’s an excellent way to save money on gifts.
5. Take advantage of credit card rewards:
If you have a rewards credit card, use it for all gift purchases and cash in your points for statement credits to “erase” some costs – a smart way to save money on gifts.
6. Give homemade gifts:
From baked goods to handmade jewelry to knitted items, homemade gifts allow you to give something thoughtful at a very low cost – an excellent way to save money on gifts.
7. Go in on group gifts:
For coworkers, friends, or family members, suggest going in together on one larger group gift instead of individual purchases.
8. Give consumable gifts:
Edible gifts like fancy snacks or bottles of wine tend to be less expensive than physical gifts, yet just as appreciated.
9. Give experience gifts:
Rather than “stuff,” give tickets to events, classes, tours, etc. These experiential gifts create memories without household clutter.
10. Regift:
We’ve all received gifts we just don’t need or want. As long as the item is new and unused, consider regifting it to someone who would appreciate it.
11. Shop secondhand stores:
You can often find amazing brand-name items at deep discounts by shopping thrift stores, consignment shops, and online marketplaces.
12. DIY your gift wrap:
Wrapping paper, gift bags, tissue paper and ribbons add up. Making your own with newspaper, paper grocery bags, magazine pages, etc. can make gifts look stylish at minimal cost.
13. Use Ebates for online shopping:
When shopping online retailer websites, be sure to start at Ebates to earn cashback. I’ve gotten hundreds back this way.
14. Follow brands on social:
Many brands offer exclusive discounts, coupons and sales info through their social media channels, especially around holidays.
15. Use subscription box gifts:
Subscription boxes make unique gifts that keep giving all year. They tend to be reasonable in price for the perceived value.
16. Give “experience” gifts:
Tickets to shows or events make great gifts, or give an “experience” like a cooking class. The memories outlast any physical gift.
17. Ask about discounts:
When shopping, always ask if any discounts are available – for seniors, students, military, etc. You may get a pleasant surprise.
18. Regift new, unused items:
We all get gifts we can’t really use sometimes. As long as the item is new, there’s nothing wrong with regifting to someone who would appreciate it.
19. Use credit card rewards:
If you have a rewards credit card, put all gift purchases on it, then cash in the points for statement credits to offset costs.
20. Make it yourself:
Finally, few gifts show more love and thoughtfulness than a homemade item – baked goods, knitted items, framed photos and more.
Conclusion: Save Money on Gifts
The key to gift-giving on a budget is being thoughtful, creative, and avoiding procrastination. With planning and resourcefulness, you can show your friends and loved ones how much you care while keeping your own finances in check. Start implementing some of these money-saving gift ideas this year and your wallet will thank you!
