Money :: Trimming the Fat Off of Your Christmas List

With the American Research Group reporting that shoppers are planning on spending just over $800 on holiday gifts this year, it’s not surprising that some people are crying uncle and trying to trim their list of presents down to a more manageable size. If you are one of these people, you might be surprised at how easy it actually is to trim people off your list once you begin the editing process.

The Secret Santa

In many cases, you can trim your holiday gift list substantially by suggesting a Secret Santa to different groups in your life. For example, instead of buying presents for everyone in your office, your best friends from college, your mommy playgroup or all of your distant relatives, why not suggest doing a Secret Santa gift exchange with these groups? That way, instead of multiple presents for each group, you can cut your gift purchasing down to one per set.

If you’ve never done a Secret Santa before, this is how it works: All of the participants in the exchange pick out a name of another member of the group and then they go and buy a present for their person. Typically, the gift limit for a Secret Santa is between $15 and $30 for casual friends and coworkers, but feel free to tailor it to the income level of those participating. For example, a family Secret Santa could have a large enough dollar limit that you could actually splurge on your hard-to-shop-for, OCD mother-in-law and buy her a Dyson vacuum cleaner at Macy’s.

You might be surprised at how many members of these different groups in your life will appreciate the Secret Santa suggestion as many of them are probably also trying to find ways to cut down on the amount of time and money they have to spend on gifts, as well.

The People in Your Child’s Life

They take care of the most important things in your life, so the people who are with your children every day should be treated well. How well? Care.com suggests that your holiday gift to your full-time nanny, for example, be the equivalent of one week’s salary.

While you won’t want to offer something that extravagant to your child’s school teacher, you should have your child give her a gift at this time of the year. Unless, that is, you live in a state like Alabama, where it is illegal, as NPR reveals. Before purchasing a gift, however, for a teacher, you might want to suggest purchasing a group gift to other parents in the classroom. If each parent contributes $5 to $10, the class can typically purchase a nice gift card to the local mall or beauty spa for the teacher.

A group gift is also an excellent idea for any sports coaches in your child’s life. Most coaches are volunteers, so a nice group gift that only costs each family $5 to $10 is an easy-on-the-wallet way to show them that you appreciate their efforts.

The Mailman

As much as you love your mailman, he is, by law, not supposed to take gifts or tips from you, according to CBS Philly. If you really feel that you want to give him something, make sure that your gift is under $20 — perhaps, a nice box of chocolates or a Starbucks gift card.

What are some helpful tips that have saved you money this holiday season?

About the Author:

Robert Howell  is a financial counselor from the Southwest who helps families dig out of debt.

Photo courtesy of Flickr: