by Maria Papadopoulou

Created on: March 02, 2010

While everyone loves getting as well as giving gifts, not everyone likes spending a fortune for them.  In an attempt to please the other person, many of us end up spending more than we can really afford, without even realizing it most of the time. That in turn, creates the need for the development of a specific financial plan which will manage to reduce the costs for gifts as much as possible.

How to save on gift giving

Act early enough

Instead of hitting the stores at the last minute searching for gifts and end up spending a lot due to the fact that there is no time to compare prices, what you can do is buy gifts throughout the year during sales period, or when  special offers catch your attention. That way, you will have created a good list of gifts for everyone in advance, without hurting your wallet at the same time.

Use gifts you do not want

Occasionally, all of us  receive gifts that we do not want or need. Instead of replacing them, you can choose to keep  those gifts and give them to others that will appreciate them more. Just remember to throw away any cards that were given with those gifts, to avoid embarrassment.

Think of packaging

Wrapping paper is expensive. Instead of buying new wrapping paper for your gifts, save the wrapping paper from the gifts that were actually given to you and reuse it for the gifts you are going to give yourself.

Buy in bulk

If  the gifts you tend to give to others, are things that you happen to like yourself, then buying them in bulk can come to your rescue. If for example you like to give books as gifts and you are an avid reader yourself, then you can get more books at a lower price.  This is a win-win situation, as both you and the other person can equally benefit from it.

Use coupons

There are many coupons you can find in newspapers and magazines or even online that you can use in order to purchase gifts at a low price. On websites such as www.retailmenot.com and www.mycoupons.com  you can find a variety of online coupons to use, even for personalized gifts.

Homemade gifts

With homemade gifts, not only do you save a lot of money (provided that you use material you already have at home), but you also get the chance to enjoy the process, let your creativity flourish and take pride in the fact that you have made it on your own. The list that follows gives you many options to choose from:

1. Bake

Everyone loves homemade cookies, cakes and pies.  Do your best, fill a  nice jar or a box that you have at home and present them to your loved ones. That way, they will actually save money themselves, as they won't need to buy snacks for days.

2. Scrapbooks

Create a theme. It could be anything from '' A trip down memory lane'' to '' Funny moments''. Then collect photos that  fit with the particular theme and make a scrapbook that you can give as a gift. The photos can be either personalized, or photos of total strangers. Not only will this come at no cost, but can also be an extremely fun experience for you.

3. Gift baskets

This is your chance to get  really creative, as the possibilities are endless. For example, you can create an ''ice cream basket'' by placing in the basket  ice cream bowls,  ice cream sauces, an ice cream scoop and some napkins. Or, you can create a ''romantic basket'' by placing cartes postales featuring sunsets and sunrises, a mix tape or CD with love songs and a painted heart.

All in all, what matters the most when it comes to gift giving is not the money you spent, but the love and passion you put into it.

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