The moment winter begins, people all over the U.S. run to start decorating and preparing for Christmas and its most famous aspect: gift-giving.
Starting right after Thanksgiving, Black Friday and Cyber Monday sales decorate the front of each store and website with their bright colors and loud fonts, encouraging gifters to come in and spend their money. Using roundabout sales, such as ‘Buy One, Get One 50% off’ or ‘20% Off Select Brands,’ stores draw customers in with the prospect of saving money on a gift for friends, family members, coworkers and more.
As gifting becomes more popular with organized events such as White Elephant or Secret Santa, and prices steadily increase on goods, how much do people spend on gifts, believing they’re saving money?
Safe1 Credit Union reports that Americans spend approximately $997.73 on Christmas every year, with 65% of that spending being for gifts. With the average American spending about $650 on gifting, the importance of getting a wanted gift is at the forefront of most shopper’s minds.
However, how many gifts are appreciated, and how many end up being wasted, donated or shoved into storage endlessly?
Finder reports that 53% of Americans receive an unwanted gift on Christmas, and Discover Magazine reports that this can add up to $15 billion, with 4% of gifts ending up in the trash. To limit the possibility of spending money on a gift that ends up unused and to limit the amount of waste that comes from gifting, keep in mind these Christmas tips.
Often, we hear the phrase “bigger is better” regarding gifting and spending. However, just because a gift is expensive doesn’t mean it will land. Homemade gifts, although cheaper, cater more to the receiving person and limit the waste of gift-giving. Some of these gifts can include handwritten cards, baked goods, and DIY gifts.
Local thrift stores, such as Crowded Closet, prepare for holiday spenders by putting out cheaper holiday decorations, Christmas trees, and donated wrapping paper for spenders who want to save money or can’t afford the steadily increasing prices. Along with inexpensive Christmas decorations, thrift stores offer more affordable gifts for a conscious shopper, ranging from jewelry to donated games. Thrifted fabric can be used to customize quilts, or small statues can be repainted for custom decoration.
If you lack the time to create multiple personal gifts for friends and family or are set on getting a gift, there are still ways to keep money in mind. Gift cards to a person’s favorite store or looking for sales on items they have previously requested is a positive and safer alternative that will also decrease money spent, along with keeping a mental spending limit before shopping to ensure that spending isn’t too extreme.
