Human beings are social creatures and to stay in a society you have to follow certain norms. Being a social creature means staying in a group. Usually, humans do not like staying alone and to stay in a group you have to maintain a good relationship with the other members. To foster relationships among society a number of occasions are celebrated. These occasions are nothing but reasons for getting together and maintaining relationships.
Some occasions require you to exchange gifts like birthdays and weddings. But such occasions like weddings, birthdays, christening and so on are costly affairs for the hosts as well as for the invitees. As invitees, you need to get gifts for the occasion and in general, every family has to attend plenty of such occasions in a year. Just calculate the amount you spend on gifts each year than.
But that does not mean you will throw away your money on gifts. There are ways to save money on gifts without compromising on quality. All you need to do is spend a little time in place of money and you can have good and unique gifts that are economic too.
Here are some of the ways to save money on gifts:
1. Birthday Gifts
If the occasion is that of birthday or anniversary of a close friend or relative, you can bake a cake instead of spending a fortune in buying an expensive gift. Rest assured that a cake baked by you would be more precious to the receiver than anything you buy them. This way you not only save money but also impress the receiver by showing your love and care for them.
If cooking is not your area of expertise, you can always go for some other self-made gifts. Handmade gifts never fail to make any receiver happy since it is a fact that in this fast forward age, the best gift you can give anyone is time. A handmade gift goes to show that you have spent a lot of time in creating it.
2. Gifts for Acquaintance
If the occasion is an official one or of a distant acquaintance and you are not particularly eager to spend any time making a gift, still you can be economic and save money on gifts. All you have to do is plan ahead and research a little instead of just going to a shop just before going to the occasion and buying anything you can put your hands on. You usually end up spending more if you are in a hurry while gift shopping.
3. Use a Gift Card
The gift is another way to save money on gifts. A gift card for online shopping or spa is an amazing way to make someone feel cared for. Usually, the gift cards are of many types and you can choose them based on your budget. The best thing about the gift cards is that you can give them to anyone – your friends, family, colleagues, and anyone of your acquaintance.
4. Stock up on Sales
When things go on sales, don’t forget to buy extra stuff if your budget allows. Some of the same things will cost twice more in normal circumstances. Special occasions like Valentine’s Day, Christmas, and others bring a lot of sales. You can stock up on a lot of things like clothes, accessories, chocolates, gifts pack and more. When it’s time to gift someone, you can look into your stock and find the perfect gift without spending a lot of money.
The reason why this works is that you already know people in your life. You know what they like, and you can buy them at the stores at a reduced price. Plan ahead and keep in mind the coming occasions like birthdays and make a list. Then buy things at a reduced price and save money later on without compromising on the quality.
5. Use Cash, Not Credit Card
When you use a credit card, you don’t usually see how much you owe to the bank. This can affect your financial health. Use cash for payments or other pre-paid methods where the cost of the gift does not add to the debt. This is one of the best ways to ensure that your gift-giving doesn’t go overboard and you stay within your spending limits. Make sure you keep your credit card debt under control.
The Bottom-Line
Giving and receiving gifts are not only societal norms that help us to maintain relationships, but they also spread happiness. But like it is said, money cannot buy happiness and hence you do not need to spend huge amounts on gifts just to make your loved ones happy. Being economic in every aspect of life is a part of good personal financial planning and buying gifts is no exception.