How to make your gifts count this Christmas
BY Andy Webb
6th Dec 2023 Managing your Money
4 min read
In a cost-of-living crisis, it's definitely the thought that counts and giving can be done in a number of ways and for different budgets. Here are some alternative ways to to make your gifts count this Christmas
There are so many reasons why we give presents at Christmas.
Many are good, or at least well intentioned. And there’s nothing quite like
receiving something that’s been well thought through and just about perfect.
But sometimes when we buy presents that effort is missing.
It could be that we feel obliged to spend cash, often more
than we can afford, for friends, family and colleagues because they’re doing
the same for us.
Worse, it’s out of habit—we’ve always done it so we keep
on doing it (and they do the same in reverse).
"Sometimes we feel obliged to spend cash, often more than we can afford, for friends and family "
Or perhaps we just don’t have the time to shop around, so we
just grab what we can when we can to tick a name off the list before moving on
to the next one.
The end result is often the same. The present itself, though
appreciated, isn’t quite right or even completely wrong for that person. So it
doesn’t get used, eventually moving into the back of a cupboard, listed on eBay
or regifted to someone else next year. And that’s if it doesn’t just end up in
the bin.
I think we can all agree this is something we want to avoid.
Not only do we want the recipient to be delighted with their present, we also
don’t want our cash to be wasted—especially when there are so many other
things it could go towards right now.
So how do you do this? Well I’ve got some tips that’ll put
you on the right path.
1. Ask them what they want
It’s such a simple and obvious task, yet we tend to avoid
it. Yes it takes away the element of surprise, but at least everyone knows that
the present is going to be used.
It’s a good idea to also say what your budget is. It might
be uncomfortable, but it stops you feeling pressured into overspending.
If you really don’t want to do this then include a gift
receipt. This allows the recipient to take the item back to the retailer and
exchange it for something they’ll be able to use.
2. Switch up Secret Santa
The danger with Secret Santa is you end up buying something
for someone in the office you hardly know—and by the nature of it you can’t
go and ask someone what they want!
That really increases the chances of the gift going unused
or in the bin. Research by UK Money Bloggers found that one third of Secret
Santa presents tend to be given away afterwards, and a similar number would
rather not even take part!
Even when you do this with friends or family (which can be a
good money saving idea) the same risks apply.
One smart addition you can apply is to give everyone taking
part the opportunity to “give or gift”. When you put your name in the hat,
simply add whether you would like a traditional gift, or if you’d prefer for
your “Santa” to instead make a charitable donation in your name instead.
There’s more information on how to take part at
ukmoneybloggers.com/giveorgift
3. Avoid gift vouchers
Gift cards are the classic back up present. You don’t have
to think much about them and you are actually giving someone a present.
I think it’s better to strip this back and instead give cash
or a cheque (yes they do still exist). Though it seems impersonal they are
effectively the ultimate gift card without any of the risks. Cash doesn’t expire, it isn’t restricted to just one or a handful of shops and if a retailer goes bust your money isn’t lost. A much safer option.
"Cash doesn’t expire, isn’t restricted to a handful of shops and if a retailer goes bust your money isn’t lost"
And if you’re worried it feels too impersonal, you can
always suggest how it’s spent. Say the money is to buy a new coat, to go out
for a nice meal or whatever it is you think they’d enjoy but aren’t quite sure
what the right present is.
And remember in some cultures, it’s pretty common for money
to be given at celebrations.
4. Add to their savings
This one is particularly good for very young kids who won’t
be aware of what presents they’ve received - or get so many they’ll lose track
of who gave what.
So in addition to one or two things, you could then put the
remaining cahs you budgeted on them into a savings account.
There are a few options, and it’s best to go for the highest
rate you can. Just bear in mind that Junior ISAs can’t be accessed until the
child is 18—and then they can do what they want with it.
You might also struggle to open new accounts if you’re not
the parent or guardian, so that would involve giving them the money to put
aside.
5. Give your time
Giving your time, such as helping to sort out someone's garden, is a nice gift. Credit: Centre for Ageing Better
If money is particularly tight but you have a skill that’ll
be appreciated, perhaps just offer that as your present instead.
From a promise to babysit once a month, through to getting
hands on sorting out their garden, it could be just what the person wants.
And if you want to have something that you can wrap, you
could make some vouchers that can be redeemed later in the year.
6. Scrap presents altogether
If even all of these ideas are just perpetuating the giving
of presents that really aren’t necessary, then it could be time to stop or
pause exchanging gifts. It’s worth having a chat with the other people first—you
don’t want them to buy you something!
"Spending quality time together could well mean much more than another pair of socks"
You could even suggest an alternative where you spend some
quality time together over Christmas, whether that’s meeting for a festive
tipple or a winter walk. That could well mean much more than another pair of
socks.
Banner credit: Nicole Michalou
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