Are you tired of overspending every time a special occasion rolls out on the calendar? The best way to keep yourself from doing that is to create a reasonable budget.
So, whether you’re hunting for a best gift for wedding or a thoughtful birthday surprise, a little planning and a dash of creativity can turn you into a gifting genius without emptying your wallet. And that’s exactly what this blog is here to help you do.
We will walk you through the steps of assessing your finances, setting a gift budget, and finding ways to save money on presents without compromising the quality.
1. Assess Your Finances
A good gift should never come with guilt attached. So, the first step to giving gifts on a budget is to know how much you can stretch the limits of your credit card. An easy way to do that is by looking at your monthly savings and expenses.
Ask yourself these questions: “Do I have any major investments or bills coming up, like a vacation or an EMI payment?” and “How much are planning to save every month?” Make sure you keep in mind these as well as other factors before setting your budget.
2. Set a Realistic Gift Budget
Next step – setting up a budget within a reasonable range. The best way to go about it is to fix a percentage of your income. For example, you can set aside 5% of your monthly (or yearly) salary for only purchasing gifts. The amount should depend on the number of people you need to purchase your gift for.
You can also try and make a list of all the upcoming events you might need to buy gifts for, such as birthdays, holidays, or other special occasions. This will help you gain a rough idea of all the money you’re going to spend.
Lastly, try to be realistic. Don’t set your budget so tight that you would have to overlook thoughtful gifts and at the same time, try not to exceed it.
3. Research Different Gift Options & Prices
A little scrolling, comparing, and coupon-hunting can help save you big. So, sign up for alerts, use cashback apps, and don’t be shy about looking at lesser-known marketplaces, they often have great deals.
Another good tip is to go for online shopping as it is the best option to keep within the range of your budget. You can find goods that are usually cheaper than brick-and-mortar stores there. Similarly, some websites have the same product at drastically different prices. But try to take into account the shipping costs and other hidden prices as well.
Lastly, if you consider yourself crafty, consider DIY gifts. A handmade gift has a price tag of zero and a value of a hundred.
4.Choose the Sale Time
One of the most important factors for budget gifting is timing. Sales and festive discounts allow you the perfect excuse to give your loved ones their dream gift without going overboard with your budget.
Events like Black Friday, Diwali, mid-season, clearance, or even weekday sales can have amazing offers. Planning to give a gift in December? Start looking in October. You’ll get better deals, avoid last-minute panic shopping, and probably snag free shipping too.
5.Consider Group Gifts
When all else fails, consider group gifting. This life hack is underrated but super practical. Pooling money with friends, colleagues, or cousins allows you to give something bigger and better without anyone having to undergo any kind of financial trouble. This works well if you have a large family or a group of friends with whom you have to exchange your gift. Plus, it’s a lot easier to brainstorm a great gift idea when there are multiple minds at work.
Few Budget Options That Always Make Great Gifts
- ·Copper Water Bottles: Stylish and Ayurvedic-approved, a copper bottle is a shortcut to wellness with a touch of class. It’s a practical, healthy alternative which is far from the ordinary.
- ·Decor Items: Figurines, mini planters, quirky candle holders, and the like never go out of style. With the right pick, you’ll have your recipient showing it off on their shelf or corner in no time.
- ·Car Dashboard Accessories: Cute Bobbleheads, Aromatherapy diffusers, functional phone holders – these tiny accessories offer perfect personality and practicality. They are ideal for anyone who treats their car like a second home.
- ·Spiritual Accents: From Ganesha Idols for home to beautiful Vastu-compliant wall paintings for the office, spiritual items can bring serenity and spirituality into any space.
- · Books: A well-chosen book feels personal, lasts forever, and costs way less than your lunch. From fiction to self-help, there’s a book for everyone, you just have to pick the right one.
Final Thought
Gifting is a beautiful gesture… until your credit card bill arrives and you suddenly regret being so generous. With this blog, you can keep in mind that thoughtful gifts don’t have to cost a fortune. So go ahead, be generous, be smart, and let your budget guide you to a gift that they can appreciate for a lifetime.
Also Read: A Traveler’s Story: Receiving Love Across China with SammyGift
