Setting a 2020 Christmas Gift Budget: Tips and Suggestions
Setting a budget for Christmas gifts can be a challenge, especially when you have to balance it with your overall finances. Here, we explore various strategies and considerations for determining the right spending amount for different types of recipients, with a focus on educational gifts and personalized children's books.
Thoughtful Spending Instead of High Expenses
One key principle is to prioritize the thoughtfulness behind the gift over the price tag. A $20 gift can be just as meaningful as a $50 one, especially if the recipient appreciates the personal touch. The rule of thumb is to think about your overall finances and how much you can comfortably spend without stressing.
Recipients and Gift Budgets
Family and Close Friends: For family members and close friends, a budget of $20 to $50 per person is common. This can be adjusted based on the individual and the type of gift you're considering. Whether you opt for a book, a handmade item, or a thoughtful knick-knack, the most important aspect is that the gift is well-thought-out and reflects your genuine feelings.
Children and Educational Gifts
When it comes to gifts for kids, educational books can be an excellent choice. They provide value and foster learning without the potential pitfalls of overindulging in toys or gadgets. Educational gifts like personalized children's books are especially thoughtful and budget-friendly. You can often find a tailor-made book that matches the child's theme or interests, making it a truly unique and memorable gift.
Relatives and Friends
For relatives and friends, a budget of $5 to $20 is usually sufficient. Handmade items from food to small remembrances in low-dollar amounts can make a significant difference. These gifts show that you are thinking of them and value their relationship with you, regardless of the cost. Being thoughtful is key to making the gift meaningful.
Prioritizing Thoughtfulness Over Cost
Gift-giving should not be about breaking the bank. It's more important to focus on how much thought and effort you put into each gift. Whether you can afford $50 or $5, the most important aspect is the emotional connection you're trying to build with your gift.
Alternate Ways to Give
Other than budgeting, participating in surveys can be a good way to earn extra money, which you can allocate towards gifts. Surveys can sometimes offer significant rewards, such as a $50 Amazon gift certificate, which can serve as your Christmas budget.
Personal Experiences and Examples
Some people might choose not to have a traditional Christmas gift-giving budget. Instead, they opt to give whenever they feel it's necessary and appropriate, often random and not specific to Christmas. For instance, my wife and I have been budgeting for the year, and with the added expenses of a destination wedding, caring for a parent, and caring for another parent at the time of their passing, as well as some car repair work, we've already exceeded our budget for the year.
For others, the budget is enough to purchase gifts for everyone they will give to while still taking care of regular expenses. This balance shows that it's possible to give meaningful gifts without overwhelming your financial situation.
Conclusion
Ultimately, setting a Christmas gift budget is about finding a balance that works for you. You can prioritize thoughtful, educational gifts like personalized children's books for your kids and low-cost items for your relatives and friends. By focusing on the thought and intention behind your gifts, you can make every dollar count and create lasting memories.
Key Lessons:
Focus on thoughtfulness over the cost. Choose educational and personalized gifts for children. Consider handmade and low-cost items for relatives and friends. Use extra cash from surveys or other sources as your budget if needed.