5 Ways to Save Money on Gifts Over the Holidays

With the downturn of the global economy - at least that is what the media is telling us - many people are looking for ways to cut holiday spending while still having an amazing holiday season. Here are a few tips to help you save money over the holidays.

1) Give Presents to Kids Only. Talk to your family and friends and ask to only exchange gifts for the kids. Or buy "family gifts" something the whole family can enjoy together like a board game or DVD. I am sure your family and friends will be overjoyed to not have to buy gifts for you too if they are feeling the strain of the economy. After all Christmas is all about the kids!

2) Re-Gift Where Your Can. How many times do you receive a gift that you don't know what you will do with. It may not be your style, or you may have no use for it. Give it to someone else. This is becoming more and more socially acceptable. You can make someone else happy and save some money at the same time. The trick however is to remember who gave you what, and to make sure that you don't re-gift it back to the person, or to a person close to them. This may be seen as a faux paux. Think of re-gifting as the gift of saving money from the original gifter!

3) Make a List and Stick to it. Make a list of gifts you are going to buy - or price range you will spend on each gift. Then stick to it. People tend to blow their holiday budget on last minute gifts or things they didn't plan for. When you make a list and a budget and stick to it, there are no surprises on the credit card bill in January. In fact use cash and then you don't have to worry about the credit card bills in January at all! Start early to avoid last minute desperation shopping!

4) Be Creative with Your Gifts. Do you have a new mom to buy for? Give the gift of cleaning her house for her once a week for a month. What about framing artwork or memories for a family member. If you are a cook, create a book of your favorite recipes to give to over cooks. Offer to run errands to an elderly relative or neighbor. Give free babysitting for a busy couple with a young family that don't get much time together. Bake your favorite cookies and wrap them in a fancy package. Give to a charity in the name of the people you are giving the gift to. Work with your kids to create special gifts using their school pictures (Grandma and Grandpa would love this!).

5) Be Creative with your Wrapping. Sometimes the wrapping paper may cost more than the gift! Be creative either with where you buy your wrapping or how you wrap it. Buy your wrapping for next year in the after Christmas sales. If you wait long enough you can get some really nice paper for 75% off. Just remember what you bought when you go to wrap presents next year. Buy your wrapping at the dollar store. There are some really nice options at the dollar stores these days. Or wrap with the environment in mind. Use Comics or newspaper, or reuse older wrapping paper. The Environment is on many people minds and they will appreciate you for it. Buy plain wrapping paper in bulk and decorate it yourself or with your kids. Use stickers or markers and make it personal for each gift.

To learn more about how to do your Holiday shopping frugally, check out our Frugal Christmas Shopping Page.