Firstly, it is very important not to feel forced into giving gifts. Gifts which are bought by someone who was forced to get one would be insincere, impersonal, and most likely would not be useful for the recipient. Secondly, avoid giving something which come in sizes (clothes, shoes, etc) unless you know for sure that it will fit the intended recipient. If you don’t, then it’s always better to get something else which would definitely be useful.
Finally, make sure you manage your gift budget well, dividing your money between gifts for family, friends, colleagues, and others. If you don’t have enough savings on hand, do not use your credit cards to buy expensive gifts! You will only have to pay them next month – with interest, of course. If you still can’t pay this in the next month, the interest will only snowball, and everyone knows how high a credit card interest can be.
If you’re really tight on money, it’s a good idea to make some DIY gifts. These are always cheaper, and DIY gifts is far more personal and meaningful compared to store-bought gifts. You can make hand-made Christmas cards with personalized messages, bake log cakes or gingerbread cookies, draw portraits or caricatures of the recipients, or any other idea. Be creative!
Lastly, consider giving a ‘gift’ to yourself. This can be in the form of some me time in the spa or massage, something you’ve always wanted, or even in the form of some savings. You can allocate your ‘gift’ to yourself into savings for your kids’ education or into your retirement savings! Now that we’ve covered all that.
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