As promised, today we are diving into one of the three basic categories for your holiday gift options.  We are going to start with the “buy” because chances are you plan on buying at least a few of your gifts and I want you to save as much as possible.  Also, it is important you get your gift buying off on the right financial foot. Here are some tips and tricks to help you save on buying your gifts!

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[bctt tweet=”Learn how to #save even when you buy your gifts from retailers.”]

 

Is Buying Right for You?

How do you know when buying your gifts is the right option for your holiday style?  Some are obvious such as you love visiting the shops this time of year and enjoy the hustle and bustle.  If that’s the case you definitely want to work in at least one or two shopping trips.  However, there are other, less obvious signs you should buy.

1. You don’t enjoy crafting.

• If you hate the idea of having to sit down and make gifts, clearly buying is a better option for you.

2. You enjoy handmade gifts but simple do not have the time to make them all.

3. You love creating but don’t have much of your own supplies.

•  If you don’t already have some basic supplies, you could start overshooting your budget in a hurry trying to obtain it.

 

Be Specific

To prevent yourself from overspending, have a specific list of items for each person on your list.  (We will learn how to do this more thoroughly on Thursday but I want to share with you how this step pertains to choosing to buy your gifts.)  Once you have your list made, diligently search for deals on those items.  If there is a specific video game you are looking for or you know your parents need a new DVD player, start looking for deals on those items now.  This not only helps you stay within your budget, it also helps you know you are getting the best deal possible.  Lastly, as part of being specific, give yourself a completion date for obtaining all of your gifts.  Some examples would be:

• All gifts have to be purchased by December 14^th.
• I will finish all of my online orders by November 30^th.
• To ensure that all of my gifts are wrapped by December 20^th they have to be in my hands by no later than December 10^th.

If doesn’t matter what goal you pick so long as you set a firm completion date.  Choose a goal that fits with your lifestyle and stick to it.

Boost Your Savings

There are plenty of ways to boost you savings even if you are buying all of your gifts.

 

Clearance

Retailers don’t want to store all of their excess and overstock.  Instead they will sell it to you with huge discounts.  Always look for these deals when you are at the store.  You might be amazed at what you can find.  I got the 3 items pictured above for less than $2.00 each and these are just a small snippet into what I have gotten.

Use Coupons

Even if you don’t normally use coupons when doing your regular shopping, use them now.  You can find coupons for toys, clothes, electronics… you name it and there is probably a coupon for it.  Also, don’t just look at the picture.  Read the text.  Manufacturers and retailers will often put a picture of the most expensive version of a product on the coupon to increase the likelihood of you choosing to purchase that specific item.  In most cases, the coupon is good on other, less expensive, versions as well.  Lastly, don’t forget about percent off coupons.  These can save you tons on necessities like socks and underwear (which I have no aversion to setting under the tree each year).

 

Don’t Overlook Craft Stores

Craft stores carry a lot of products that aren’t necessarily for crafty people.  Games, books, home décor, and small appliances are just a few of the items you can mark off your gift list in these stores.  If you’re asking, “Why would I buy that stuff there when I can get it at another store just as easily?”  I have the answer for you.  Craft stores offer some of the best coupons and they offer them weekly!  I was able to get that super awesome Star Wars puzzle above for my brother-in-law for on $7.00 using a 50% off coupon at Michaels.  That’s $3 less than it is at Amazon right now.  So be sure to check the major craft stores in your area to see what they have before overpaying for items on your gift list.

As always, when deciding which holiday gift option is right for you, be realistic.  Don’t determine to order everything off of Amazon if the money to do that just isn’t in your budget this year.  Conversely, don’t vow to DIY every gift when you’ve never done a craft project in your life (high school Home Ec. excluded).  Both of those mistakes will cost you hundreds later when your budget is blown.

If you missed the introduction to this series, check it out at 31 Days of Saving on Holiday Gifts.

Find out more about #write31day

You obviously have a ton of options when it comes to getting your holiday gifts.  Of course, these options can also span the entire financial spectrum, form free to outrageously expensive.  On Thursday, we will talk about planning your gifts to optimize your savings and stay within your written budget.  Before that happens, it is important to have a basic break-down of your options before you start brainstorming gift ideas.  To help make it easier on you, your holiday gift options will be broken down into 3 categories: buy, thrift, and DIY.

 

[bctt tweet=”Learn what your holiday gifts options are and how much they save you! #write31days #diyholidaychallenge”]

 

Buy

This option is the most expensive option of the three.  That doesn’t mean that you can’t achieve significant savings but there are keys to doing it:

• Forethought and planning are going to be imperative for maximum savings.
• Adjust your expectations. (If you plan to buy all of your gifts but you have a limited budget, don’t expect to be able to buy the brand new PS304.  Okay, so I just made that game system up, but you get the idea.)
• Due diligence is needed to find the sales and clearance deals that will save you money. 

We will go in-depth on this tomorrow for Day 5 of the series but it is important to start thinking about these things today.

 

Thrift

Thrifting is a nice compromise for your budget between buying and DIY-ing.  It is also great if you don’t consider yourself much of a “crafter” or it you simply don’t have the time to DIY.  Keep in mind when choosing to thrift your holiday gifts that you are not limited to traditional “thrift” stores. Some options to keep in mind are:

• Used Game Stores
• Online Second-Hand Sales
• Used Book Stores

Again, we will explore this option fully on Day 6 but I don’t want you to go ahead and discount it because you can’t see yourself digging through shelves of miscellaneous items searching for the perfect gift. (Though I admit that, for me, this is like panning for gold.  I absolutely love the hunt for treasures.)

 

DIY

This one is my favorite because it is personal and has the highest savings potential.  The possibilities with do-it-yourself gifts are limitless so long as you take the time to learn the process.  For example, while I could absolutely build my own jet plane, I have no desire to take the time to learn the engineering such a task would need nor to expend the money on the tools I would need.  It is important for you to recognize your limitations of time and willingness.  If you have found an awesome knitted sweater pattern for free online but you’ve never knit a day in your life, that free pattern will actually cost you hours or day of learning basic knitting skills.  Subsequently, you may get frustrated and give up altogether because you aren’t catching on “fast enough”.

This is when your budget gets into trouble because you are now forced to buy gifts that are over your allotted budget because you find yourself out of time to bargain shop.  Instead of going through this, choose a different gift project for this year and start learning to knit in your free time.  This takes the pressure off of perfecting your skill in time to finish gifts for the holidays.  If you decide eventually that you really love knitting, save that sweater for a gift idea next year.  You might even get them done early with a whole year to work on them.

You may have noticed a theme throughout all of this… self-awareness.  This plays a huge role when deciding which of the above holiday gift options are right for you.  You need to know your style and strengths and balance those against your budget to ensure success.  You also don’t have to limit yourself to just one.  Our holiday gifts always end up being some combination of the three and that’s totally fine.  Start thinking about your style and strengths and come back over the next few days as we dig deeper into these options to help you figure out what combination works for you.

 

If you missed the introduction to this series, check it out at 31 Days of Saving on Holiday Gifts.

Find out more about #write31days!