3 holiday spending stress relief tips for gift giving in 2019. It is possible to show appreciation for your loved ones without overspending this holiday season.
My favorite part about the holidays is gathering with the people I love most to celebrate the end of another year. Exchanging gifts and visiting with family is a fun part of some holiday traditions, but the financial stress most Americans are feeling can dampen the joy of their holiday season.
Holiday spending is always stressful. That’s why we talk about finding creative ways to reward the people you like most, and how it’s possible to show appreciation for your loved ones without succumbing to pressures to overspend.
The vast majority of Americans think there should be another way to “gift” loved ones rather than spending cash they don’t have. Nearly 70 percent of Americans would skip exchanging gifts this holiday season if their friends and family agreed to it and more than 40 percent said they feel pressured to spend more than they can afford, according to a recent survey by SunTrust.
Need some new ideas?
3 Holiday Spending Stress Relief Tips for Gift Giving in 2019
Here are my top three suggestions for giving great gifts without overspending:
Holiday Spending Stress Relief Tip #1: Pick Names
Try picking names instead of getting gifts for all of your siblings, nieces and nephews. It’s much easier, not to mention less expensive, to get a great gift for one person than it is to stretch yourself too thin trying to get good gifts for an entire group of extended family. Or, give a family gift that everyone can enjoy.
Holiday Spending Stress Relief Tip #2: Grab Bag Gift Exchange
Set a spending limit and have everyone bring one gift. Play a game at the holiday party to distribute the gifts. Our family has done a grab bag gift exchange in recent years and it’s been both a lot of fun and a huge relief since otherwise we’d each be buying presents for 15 people.
Holiday Spending Stress Relief Tip #3: Get Creative
When your heart is set on giving everyone a gift, homemade gifts can be a great way to stretch your gift budget. Ilyce Glink, author of 100 Questions Every First-Time Home Buyer Should Ask, and publisher of ThinkGlink.com, shares her six ideas for homemade gifts that will impress teachers, neighbors, hostesses, kids, adults, women and men here.
Best Tip to Reduce Holiday Stress: Plan Ahead
Holiday spending stress reaches its peak in November, according to a recent survey by Bankrate. Reducing stress during the holidays and saving money on gift giving all comes down to strategic planning. If you start thinking about your holiday shopping list in August or September you’ll have plenty of time to find deals or test ideas for homemade gifts well before the holiday season begins.
Remember that the most important part of the holidays is celebrating with those you love, and that doesn’t cost a thing.