Holiday gift giving during a recession

Photo courtesy of japi14 on Flickr

Here it is once again -Toys R Us has sent out it’s 2009 Toy Book officially heralding the Holiday season.  You might be wondering how to fulfill those wish lists when your credit cards are already reaching their limits.  Well, I have a few ideas that might make the gift giving season a little easier on the bank account.

First of all I recommend eliminating obligatory gift giving.  There may be those whom you tend to exchange gifts with merely because you always have.  If you rarely communicate with these individuals it might be time to re-evaluate your gift giving traditions.  It is relatively painless to make a phone call or write a letter which suggests exchanging holiday cards and photos in lieu of presents.  Chances are your recipients will applaud your ingenuity and gratefully  jump at the chance to shave off a few layers of their own lists.

Once you have gotten your list to a manageable level it’s time to come up with a budget.  I think we all start off with the best intentions when it comes to holiday shopping but somehow lose our way.  The hefty accumulation of receipts tends to go unnoticed until the decorations come down and the credit card bills arrive.  By planning ahead you can welcome the new year with ease and curtail the seasonal blues that often accompany overspending.

Adhering to a budget may prove exceedingly difficult this time of year with the lure of the bargain and the enticement of the sale.   Retail establishments use their creative marketing strategies to draw us in and keep us shopping.  When the mailbox is cluttered with catalogs  I suggest taking them straight to the recycling can.  Catalogs are just added temptation for things that we didn’t know we wanted in the first place.  Perhaps you are one who would benefit from shopping from home.  I prefer online shopping because I can Google exactly what I want with less visual temptation from other sources.  Chloe, however, feels that the internet can be just as dangerous, if not more so. The key to successfully adhering to any budget is demonstrating some serious yet much needed self control.

You don’t need much restraint if you decide to make your holiday gifts rather than venture into the stores.  I realize that there is a relatively small amount of the population willing to put the time or effort into homemade gifts but it is an option.  There are many online tutorials available, many with step-by-step instructions and photos, that will aide you in the completion of your project.  I have recently been educated in the art of tutu design and plan on making some super cute tutus for a few lucky little girls and there is no sewing required!

If homemade gifts are truly not your thing and you want to stay within budget without compromising on the gift then I suggest combining resources with others.  Instead of spending a little to get that finicky adolescent in the family something that they didn’t want in the first place, you can get a group together to buy that I Pod or $100 jacket from Abercrombie.   I think this is a great solution to the overinflated Holiday list; a win win situation for everyone involved.

Welcome the holidays and do not let the  financial aspect overshadow what the season is truly all about.  Your contribution of love and friendship should heavily outweigh any monetary gift and is ultimately more valuable.