Holiday season – the season of giving… and spending…and spending…and spending. Really should be called the season of creating a dent in your bank account if you don’t save for the entire year before and strategically budget which is usually the case for many students, especially college students. Most students have various other expenses throughout the year that makes putting money aside for the holidays difficult or impossible. Not to mention, classes, work and organizations/clubs make it difficult for students to even have additional time to go shopping for gifts. They can go shopping when they get home, but most schools let out for winter break about a week before Christmas itself which doesn’t give a lot of time to get situated at home, work and get some money, and shop for everyone on your list. I don’t know about you, but waiting last minute to Christmas shop gives me major anxiety because what if what I want to get my boyfriend is sold out? What if they don’t have the right type of cologne for my dad? What if there is only one shirt left that my sister wanted but it’s the wrong size? Nope, too much for me. I like to be prepared and enjoy the holiday season by planning ahead, giving good gifts without breaking the bank and enjoying the holiday.
So how do you do it? How do you get everything on your holiday shopping list on a budget?
I understand everyone’s financial situations are different but these tips are hopefully beneficial for ALL financial situations.
1. Create a list ahead of time and set a budget
if you create a list before the holiday season gets in full swing, you can have a better idea of how much money you are going to have to spend. Once you have established what everyone wants and what you are going to get them; set the budget so you don’t leave any room for “welllllll, this is only $20 more I’ll get this instead”. No, stick to your guns.
2. Consider making gifts instead!
Often times a gift someone wants, if it is a craft or decoration, can be made will the same quality but at a cheaper price if you make it yourself or ask someone who you know can make it! Thoughtful gifts are just as important and full of meaning as a store bought one, if not more.
3. Take advantage of sales/deals and coupons
I have met quite a few people who think the value of an item goes down if you get it during a sale or use a coupon and that is just silly. You are getting the same item but for less money – that’s amazing. If you make the list ahead of time and have a general idea and keep an eye out for deals or sales for that item, it can make getting that gift a lot easier.
4. Go halfsies! If you have siblings or a significant other and want to get something for your/their siblings or parents, talk with them and see if they want to split the cost of gifts and go in it together. It can be cheaper and it’s a great time to spend time with them for holiday shopping.
5. Don’t stress
Your family and friends will love you and be thankful you even got them something regardless of how many gifts you get them or how expensive or flashy they are.
Holiday shopping is a cluster of emotions ranging from anxiety, stress, sadness and joy if you are anything less than a steadily employed person. But if you take the advice of these steps, I can’t guarantee these emotions will go away, but maybe it’ll help. The holidays are a time for giving thanks and being thankful for family, friends and what you have, no making yourself go broke because you want to be the ultimate gift giver.
Good luck holiday shopping and Happy Holidays!