Tips to Save Money on Gifts

June 26, 2009 by  
Filed under Save Money

Now is as great a time as ever to reign in your expenses and save money to pay off debt or simply build up your emergency savings account. However, holidays, birthdays and life events will still happen during tough economic times, and it’s essential to learn how to save money on the many gifts you find yourself shopping for this year.

Preparing a budget and accounting for a certain dollar amount each month to go toward your ‘gift spending’ will help you to prevent spending too much money on gifts. The key is to actually stick to it, and refrain from last-minute spending when you should be saving money. Plan ahead and find some creative ways to find quality gifts for less online.

Internet sites such as Amazon and eBay offer every type of product available, at very reasonable prices. Not only are these products typically priced far below retail value, you’ll have a larger selection of unique items and save money on gas, too.

You may also look at Craigslist or search for smaller sites where dealers and individuals are selling handmade and even brand new items. Special collectibles and items that are ideal for a unique personality are also easily found in new or slightly used condition.

Also search for sites offering personalized gifts or custom made items that will offer a gift not soon forgotten. Today, there are several companies which specialize in these types of products, and may even offer discounts for bulk orders to give to your entire family.

Many craftsmen of various types are able to offer their products online without the high cost of maintaining a retail storefront. Although their items net a high profit per item for them, these gifts are still quite affordable for you without a middle man to pay.

Slightly used items may also be appropriate in certain cases, such as high-dollar fashion accessories or clothing, jewelry, collectibles and media. Several vendors online specialize in only offering the highest-quality used items, so search for a reputable site with a clearly stated return and refund policy.

Perhaps the best way to save money on gifts is to search not for simply something the recipient would want, but starting with high supply and low demand niche industries. After discovering products that are declining in price because they are last year’s model or not as popular as the manufacturer once thought, imagine whether your loved one would appreciate and use it.

The best way to save money on gifts is to spend the time in research and thought instead of dollars on the actual item. Plenty of deep discounts can be found on the Internet, saving you gas money and allowing you to shop from the comfort of your own home.

Consider what your loved one’s tastes and styles are like, and what they may enjoy but would never think of asking for. Are they a movie or sports buff? Perhaps a rare, independent movie or collectible sports magazine is just the right gift!