Authored by Abigail Beal in Gifts
Published on 01-10-2009

It seems like there is always an occasion just around the corner where you need to give a gift of some type. From birthdays, anniversaries, christenings, weddings and all of those holidays — there are many things to celebrate with our family and friends. You’ll want to give your loved ones special gifts to honor every milestone in their lives.

But all of these gifts can really add up. Toys just seem to get more and more expensive. All of the teens only want designer brands. Buying gifts is a tough workout for your wallet. How can you please your loved ones without going broke? Here are some tips to give great gifts that won’t send you to the poorhouse.

Tip #1: Know what they really want. This is probably the most important tip of all. So often we spend money to impress or show off for someone just how much we care. But we wind up getting them entirely the wrong thing. If you actually talk to this person and ask them what they would like to receive, sometimes the actual gift is much different — and even less expensive. Maybe they would like a gift certificate to a local bookstore. Or tickets to take everyone to see the latest movie. Giving them a gift they want puts a smile on their face because they know that you are being thoughtful and actually pleasing them. It also puts a smile on your face because you are spending money where it truly counts.

Tip #2: Shop early. The later you shop, the less options you have. When you have more time to shop you have the ability to shop at sales or bargain shop. When you are shopping with just days before an event — time is not on your side. Why, you’ll probably buy just about “anything” just to have something wrapped to give them. This is often when you spend money in excess. Shop for gifts at least a month in advance. It may feel a little funny at first, but when you realize that you are always saving money: you’ll feel a lot less funny about it!

Tip #3: Come up with gift ideas before you enter a store. How often do you walk into a store to buy a gift with no idea of what you’ll get that person? This is a major mistake that costs you big, big dollars. Even walking in with a few gift ideas that are general can be helpful as this is a starting point you can build on. The Internet is an excellent resource and you can do a little research to come up with gift ideas. You can even comparison shop online to see which store has the best price.

Tip #4: Always set a budget for gifts. When people complain that they are spending too much on gifts, the first thing we wonder is “did they set a budget?” Often they did not. A budget is critical to your money saving success. Come up with an amount that you can spend on gifts and stick to it. Take it as a spending challenge to stay within that limit.

Tip #5: Learn to visit coupon sites for great deals. If visiting a website could save you thirty percent on your gift — would you do it? You bet you would! That’s why you should visit coupon code websites like RetailMeNot.com or SlickDeals.net to get coupon codes for shopping. These coupon codes can save you money as you buy a gift.