Like many of us, when we are shopping during the holiday season, we are trying to stick to a budget. With so many people to shop for, you wan to to make sure that you’re not going into the next year with a low bank account and not enough money to treat yourself to a few things this holiday season. Over the years, I learned to budget when shopping for the holidays by first gathering a list from my loved ones of what they would like because no one likes to give a gift to someone that they aren’t going to use. In the end, that ends up being a waste of money. And then after I gather that list, I begin search for prices for some of the items and also looking to see if anything on anyone’s wish list is on sale. I strategically plan and try to shop when deals are great and also in enough time to make sure that the gifts arrive on time.
But even after all the planning and sales, sometimes there just needs to be a price point set that will allow you to get gifts for everyone without breaking the bank. But what do you do? The key is to make sure that you set a budget and stick to it no matter how hard it may be. When you are setting that budget, the first thing to do is to set a total budget. This is the total amount of money you are willing and can spend this holiday season without sacrificing anything. And then look at the budget and determine the amount you are putting into gifts for your household. If you have children, set an amount from that overall budget of what you are going to spend on all of their gifts. After that, you can then take the remaining and set a budget for the gifts for your friends and loved ones outside of the house.
When it comes to buying gifts for my son, I end up setting a total budget for all of his gifts and then shop for gifts for toddlers from there. I tend to splurge on my son and buy him toys or activities that focus on his interest such as a toy kitchen set because he loves to help me cook. The reason why I always recommend that you start inside your household with your children and/or significant others is because you want to the great experience in the morning waking up and unwrapping gifts, and those outside your house will understand if they get a small gift or no gift at all. There have only been a few years when I wasn’t able to get gifts for my friends and family, and when it comes to the rest of my family and friends, I often find myself setting a budget for each person from the total spending budget that I have for the holiday season which I why I end up shopping lots of gifts under $100.
Most of the time, that budget ends up being about $100 per person. If you’re like me, you may have the same budget and, the great thing about this price point is that there is often some wiggle room depending on who asks for what. You may have a nephew who only wants a Spider-Man action figure that is $25, so there’s a little wiggle room to get your sister that $150 coffee maker that she’s been asking for because it balances out.
But either way, you’re going to make it work especially because there are so many great gifts under $100 out there to shop this holiday season whether you’re shopping a sale or not.