The festive season is almost upon us and many South Africans are gearing up to shop for those oh-so-exciting, memorable Christmas gifts. Unfortunately, school fees, bills and all the financial burdens that come with a new year quickly follow this short period of gleeful spending, making it crucial to save wherever you can during the so-called ‘silly season’.
We speak to Maya Fisher-French, a finance journalist and author of Maya on Money about the best ways to keep your gift spending under control.
1. Work with a budget
Set a budget, write down your gift ideas and take the list with you. “You may feel like a real killjoy limiting how much you want to spend on friends and family, but you also need to be realistic,” says Fisher-French. “You don't want to be paying off a gift several months after the joy of giving it has passed.”
If you’re worried about blowing your budget then withdraw exactly how much cash you intend to spend. “A credit or debit card may be too tempting,” explains Fisher-French.
2. Start shopping early
Last minute shopping is usually done in a hurry and does not give you a chance to carefully consider the gifts you’re buying or the money being spent. “Start shopping well before Christmas so you can spread out your spending,” advises Fisher-French.
3. Keep up-to-date with specials
Make saving easier by signing up for retailer email and social media notifications. This way, you’ll be the first to know when that item your mom really wants goes on sale, or when your favourite store is having 3-for-2 or ‘buy 1 get 1 free’ promotions.
4. Don’t buy everyone’s gifts at once
While you may want to get all your shopping over and done with in one go, waiting until stores mark down their prices is a sure way to save a bit of cash. “If there are friends or family who you’ll only be seeing once Christmas is over, buy their gifts in the post-Christmas sales which usually start around 23 December,” suggests Fisher-French.
5. Give useful gifts
“Let's be honest, how many gifts do we get that are now sitting in the back of our cupboards?” asks Fisher-French. Avoid wasting money and giving gifts that will only gather dust by selecting items that people will actually need and use.
6. Don’t indulge the kids
“As parents we too often get guilted into spending more than we can afford,” says Fisher-French. She advises parents to set realistic expectations when buying gifts for their children.
7. Treat people to simple luxuries
“Times are tough for everyone and we are all cutting back on luxuries, which creates an opportunity for a thoughtful gift,” says Fisher-French. “My luxuries usually involve lovely smelling things like bath salts, soaps and room infusers.”
8. Give family gifts
Having to purchase something for everyone in your close friends’ or family members’ households can put a lot of pressure on your pocket. Keep things simple by finding a gift that the family can enjoy together. Think board games, DVDs, movie tickets or vouchers to restaurants.
Shop now at Clicks.co.za for gifts
Make use of the convenience of our online store to find perfect gifts this festive season.
IMAGE CREDIT: Getty Images