Giving gifts is one of the most enjoyable parts of Christmas time. However, if you’re not careful, it can also make things exhausting, especially breaking our bank balance. With a little budgeting help and a dash of creativity, you’ll be able to have the cheap Christmas gifts of your dreams without much pressure.
Allow yourself to think differently rather than dying to the pressure to buy the “perfect gift” for everyone on your list.
- 1 How Much Money Do US People Spend On Christmas Gifts?
- 2 What Types of Gifts Do Americans Choose?
- 3 7 Tips to Have Cheap Christmas Gifts On A Budget
- 3.1 1. Make a Christmas Budget
- 3.2 2. Utilize Price Trackers to Decide When to Buy Gifts.
- 3.3 3. Try Secret Santa on a Low Budget.
- 3.4 4. DIY to Have Cheap Christmas Gifts
- 3.5 5. Get Cashback on Your Christmas shopping
- 3.6 6. Utilize Loyalty Points or Supermarket Savings Programs
- 3.7 7. It’s Free to Have Fun
- 4 Conclusion
How Much Money Do US People Spend On Christmas Gifts?
Americans actually love buying Christmas gifts and are willing to spend a large amount of money on them. But how much is it exactly? CouponLawn researched how much money Americans spend on Christmas shopping each year. Here’s how the amount has changed over the last few years, from 2016 to 2020:
As we can see, the average American in recent years has estimated that he or she will spend approximately $700-950 on Christmas, with a large drop in the current year. (2016 – $785, 2017 – $906, 2018 – $885, 2019 – $942, 2020 – $805).
Buyers frequently look for gifts for their loved ones, such as their mother, father, boyfriend, girlfriend, or wife. It should be noted that looking for gifts for teachers, coworkers, or friends is slightly less popular.
What Types of Gifts Do Americans Choose?
We already know how much money Americans are willing to spend on gifts for family and friends, but the big question is: what kinds of gifts do Americans prefer? Do they love books or perfumes? Perhaps vouchers?
Statista examined the holiday gifts that American customers intend to purchase (the survey has been conducted annually since 2012), and the following are the results:
Americans have long preferred to purchase gift cards and clothing. Gift cards (48%), and clothing (43%), were the most popular choices among American customers in 2020. Aside from games, toys, books, cosmetics, fragrances, beauty products, and jewelry, more and more Americans want to give handmade gifts lately. So consider including some handmade items in your gift ideas.
Because of the current economic difficulties, we can easily see that people tend to spend less money on Christmas shopping. So here are 7 tips to help you buy cheap Christmas gifts for everyone on your list while staying within your budget.
7 Tips to Have Cheap Christmas Gifts On A Budget
1. Make a Christmas Budget
Our top recommendation is to create a Christmas gift budget. It may be tough, but this method keeps you on track.
Examine your bank balance to determine how much money you have to spend. Then you can figure out how many people you’ll be gifting and the appropriate budget for each.
If you need some additional money for Christmas, consider cutting back on a few luxuries, working extra shifts at your part-time job, or trying to make a quick buck.
2. Utilize Price Trackers to Decide When to Buy Gifts.
The price tracker is one of your most faithful allies in the battle against retailers who are simply trying to persuade you to spend your hard-earned money.
Simply enter the product you want to buy, and the price tracker will not only show you how the price has changed over time, but it will also tell you where the cheapest place to buy it is.
While starting your Christmas shopping early is impressive, a quick glance at whether a product’s price is trending upwards or downwards could help you decide whether to wait a couple of weeks before purchasing items.
Just don’t wait too long or you’ll miss the Christmas delivery dates.
3. Try Secret Santa on a Low Budget.
We need to buy Christmas gifts for almost everyone, from family and friends to coworkers and classmates. The longer the list, the higher the price. The key to keeping the festive spirit alive without going into serious Christmas debt is to suggest doing Secret Santa instead.
Secret Santa is an arrangement in which a group of friends or colleagues anonymously exchange Christmas gifts, with each member of the group assigned another member for whom to provide a small gift, typically costing no more than a set amount. This means you may only need to buy a Christmas gift for one person rather than the entire members.
Agree amongst each friend/family group that wants to participate, throw your names in the hat, and decide on a maximum spend that everyone is comfortable with. This way, everyone receives a nice gift while no one goes bankrupt.
4. DIY to Have Cheap Christmas Gifts
From making your own snowglobes to creating a photo scrapbook, there are plenty of inexpensive homemade gift ideas.
Even if you lack artistic talent, there’s nothing stopping you from whipping up some simple creations right in your own home.
One unique homemade cheap Christmas gift idea is to bake a large tray of delicious cakes and send them to everyone on your list.
5. Get Cashback on Your Christmas shopping
This isn’t just a Christmas money-saving tip, but let’s be honest. You’ll probably do more shopping during the holiday season than at any other time of year.
When you shop through cashback sites like Quidco and TopCashback, you’ll receive a percentage of your total spending back. This essentially amounts to a product discount, and all you have to do is go through the cashback site first.
Quidco now offers cashback at select high street stores, so you don’t have to do your Christmas shopping online to take advantage of this money-saving hack
6. Utilize Loyalty Points or Supermarket Savings Programs
This tip is only useful if you’ve been saving loyalty points for a few months. So, unless you’re already enrolled in a savings plan or have a loyalty card, save this advice for next year.
Many supermarkets offer savings programs in which you save money to spend at that specific store and then, at the end of the year, they give you a small bonus of up to 6% on top. Of course, there are some disadvantages to engaging in this. For beginners, you can only spend your savings at the supermarket that is running the program.
Notwithstanding, if you’re willing to commit your shopping to a single brand, these schemes can be a great way to save money on your Christmas shopping.
7. It’s Free to Have Fun
Even though Christmas can be expensive, and you may feel obligated to buy gifts for many people, remember that having fun is free.
This holiday season, you are not required to spend money that you do not have. Christmas is all about spending time with loved ones. There are numerous inexpensive and free activities that can bring you closer together.
You can assist the homeless by volunteering at a soup kitchen. Spend an afternoon with your children baking bread and cookies. Take a drive to see the Christmas lights. Surprise your grandmother and her nursing home friends. Make a ridiculous Christmas choreographed dance and teach it to your nieces and nephews.
There are countless ways to have a memorable Christmas on a budget.
Once Christmas is over, you can begin setting aside money for the holiday every month for the rest of the year. So, next year for Christmas, you won’t have to worry about money because it will already be there.
To have a perfect Christmas holiday, please read our ultimate Christmas plan ideas