Nearly half of UK citizens want to cut down on their budgets this year. The most immediate reason for this is the cost-of-living crisis. With energy prices rising, one can hardly save enough. It affects Christmas gift preparations.  It is almost 70% off Xmas spending. If you worry about gifting everyone the best present, relax.

The blog discusses the best strategies for doing that within budget. For example, one of the best ways to keep expenses low is by organising Secret Santa. It limits your expenses on gift purchases. You just need to buy for one person instead of everyone. You can try this at work and even with your relatives and friends.

Let’s understand other ways to save money on Christmas Presents.

7 Strategies for budget-friendly gift shopping

Christmas is all about sweetness and presents. You may want to give the most anticipated gifts. However, current economic and financial changes affect decisions. It is entirely okay to cut back on the gifting budget. Meeting necessities is more critical.

However, cutting back does not meet skipping gifting altogether. No, you don’t need to do that. Here are some strategies for within-budget gift shopping. It may help you get something for everyone without stress:

1) Create a gifting budget

It is not too late to plan gifts for your loved ones. You may have put it on hold due to other engagements. However, do it anyway. Don’t take pressure. Create a budget. How much you can comfortably spend? You can decide that by calculating incoming and outgoing. Identify the recent bills to pay.

Next, check the savings you have after bill payments. Use a part of the savings towards gift purchases. Identify how much you should spend on each person, given the budget. It will help you get a number to stick by.

2) Prepare a list of guests and presents

Now, the greatest task is to prepare a guest list. Identify the most important and dear ones. You can cut back on the people you don’t contact often. Yes, some individuals give out as a gesture of courtesy. However, generosity may affect your budget. Skipping is entirely okay and natural if you cannot afford it.

Prepare a list that includes some of the most important people in your life. You can skip those who may not attend the Christmas party at home. You can gift them later if the situation improves. Yes, it may be hard for you. However, it prevents you from spending when you cannot.

You can also write the names of the specific gift items you wish to buy. Name them against the guest list mentioned. It makes things easier for you. Also, write the expected rates of the presents. It will help you analyse whether you can do this within the budget.

3) Compare the online and offline marketplace

It is one of the best ways to fetch the most affordable gifts for your loved ones. One generally sticks by the marketplace offers, discounts and sales. However, they miss the whopping deals going online. What if you find the same product at a reduced price online? Thus, always be conscious while shopping on a budget.

Analyse the cost of every item and compare it across offline and online marketplaces. It helps you cut back on extra and fill up your purse. You can check popular online shopping portals like- Amazon, Shopify, eBay, and CamelCamelCamel price comparison websites.  It may help you spot the best price for the items you need. Price comparison sites help you analyse diverse prices of the same product across different platforms. It makes choice easier.

4) Utilise credit points on cards

Most individuals generally save the credit card points to use for the day. It may help you cut back on spending on gifts and other necessities. Identify the total credit points you have. Next, check the gift items that you can use them for. Yes, credit points may not be valid for every purchase. Thus, analyse your needs, valid gifts, and the total amount before using them. You can also keep some for other Christmas-related needs like decorations.

Using credit points brings your expenses down significantly. What could be better than buying gifts without using your savings? However, you can only purchase a few gifts given the credit points. You still need money for the other remaining ones.  If you struggle to balance gift purchases against the available budget, don’t worry. Free up cash from your debts.

Yes, you can use your liabilities to get some extra money. Options like verified debt consolidation loans with no guarantor may help you there. Identify some of your costly or high-interest debts. It could be credit cards, payday loans, overdrafts, etc. Get a new loan by merging them. This helps free up cash and pay the dues to a single provider. Moreover, you don’t need a guarantor to qualify. Instead, individuals with regular income may get it instantly.

You just need to prove affordability with the salary income. It is a two-way sword to crack financial management during Christmas. Thus, you can use a part of the money saved towards gift purchases. However, avoid overspending here.

5) Identify discount codes nearby

Sometimes, signing up for a newsletter may get you a whopping discount. For example, if you want to buy headphones for your niece or the company is new, it may offer a discount. Thus, subscribe to its mailing list. You may be one of the customers who will receive a whopping discount on the specific headphones. What could be better than spending 1500 on a product that costs 3500? Identify such platforms and authenticate them before dealing with them.

Similarly, identify the discount codes that might help you with affordable shopping. You may find it on shopping platforms or special websites for discount codes. Before checking out, you can simply copy and paste the codes on specific websites. It will help you buy the items without spending much.

6) Explore possibilities of cashback

Yes, some websites may get you cashback. It could be Top Cashback, or Quidco can help you earn cashback. However, you must click the site only after authenticating it.

You can also use a cashback credit card. You may get a 5% discount. For example, you may get £75 if you spend 500 within 3 months. However, don’t forget to pay the dues timely. Otherwise, getting the cashback would be worthless. Instead, you pay more interest later.

Identify possibilities of cash back on debit cards also. It will help you finance the gift purchase without worries.

7) Create DIY gifts or buy second-hand

It is one of the best ways to bring down the gift purchase costs. Moreover, such ideas create a personalised effect on the person. You can design and craft some uniquely designed gifts instead of buying one. For example, you can make a vase by painting it. Similarly, you can bake cookies and chocolates (handmade) for loved ones. It is the best way to reveal your love for your relatives and friends.

Bottom line

It is one of the best ways to save money on Christmas presents.  Identify the gift budget according to your financial engagements and liabilities. Similarly, explore the best gift items within the budget. Count the individuals you want to surprise. It will help you get the exact amount you need. Accordingly, you can use the credits on credit cards and visit online platforms for discounts. It helps you fetch affordable gifts instantly.