Let’s say you have decided that you want to be more frugal, that you want to become thriftier than you’ve ever been before.
Where do you start? It’s a good question and the good news is that there are lots of places for first time cheapos to get started.
The Tennessean’s Ms. Cheap
Setting a budget for holiday spending is a must for me. You have to know what you have before you can get started. Of course, I wish I had all the money in the world and could just buy everything that I thought people on my list might like. But that’s just not the way it is. So a budget it must be.
Step 1 - Figure out a budget amount
The perennial challenge is making the gift list fit the budget instead of having your list determine the budget. So start by figuring out exactly what your budget is – and I mean the realistic amount of money you actually have to spend on the holidays. I’m not talking about credit card money or money you could borrow – I’m talking about the money on hand.
Step 2 - Make a list and do the math
Make a list of everyone you intend to buy gifts for and beside each one write down a suggested gift idea and amount you plan to spend – based on the total pool of holiday money you have. It means that if you overspend on Bobby, you won’t have as much to spend on Louise. Or if you get a great deal on one person’s gift – or if you make it – you have more to spend on down the line.
Here are some ways to keep the spending down and still be able to give to those you love.
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Family gifts, like games or memberships or baskets of goodies, are a good way to minimize your spending – as compared to buying each family member a gift.
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Buying multiples of things like a package of three candles or food items that come bundled or picture frame combinations and then splitting them up into individual gifts can work well.
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For older people on your list, a good inexpensive and useful gift is to put together a collection of greeting cards and stamps so that they have them handy for correspondence.
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Buy practical things instead of fluff for stocking stuffers, maybe school supplies like markers and crayons and pens, for the kiddos, or a flashlight for dad, or a kitchen gadget or new dishtowel for the cook in the family. They take up room and are useful.
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Make some of your gifts – either baked items or crafts. Sometimes these are more appreciated than what you might buy.
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Buying an inexpensive frame and framing a nice photograph for someone on your list can be a cheap but super meaningful gift.
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Make coupons for gifts of service – such a coupon for cutting grass, or babysitting, or baking a cake or dinner later in the year. This works really well for special people who need a little help and enjoy your company,
But whatever you do, don’t go into debt for Christmas shopping. You have to remember that the people you are buying for are people who love you and they do not want you to go into debt buying stuff for them. So don’t do it. Instead be smart and creative and give of yourself – and I think everyone will have a better Christmas.
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