Giving gifts this Christmas does not have to break the bank, nor does it have to be a spendthrift. As the old adage goes: “It is the thought that counts”. In order to save money this holiday season, it is best to opt for things that may not necessarily be expensive and instead think about what will bring joy and amusement to the gift recipient.

If you want to give gifts, but have a tight budget, worry no more because there are many ways to cut back the cost but still give gifts that will be deeply appreciated. That said, is it actually possible to save $1000 for Christmas?

Then the Grinch thought of something he hadn’t before! What if Christmas, he thought, doesn’t come from a store. What if Christmas…perhaps…means a little bit more!
― Dr. Seuss, How the Grinch Stole Christmas!

Start a Gift Closet

Shop for gifts the whole year-round, paying close attention to sales and deals. Not only will you save money but you will be less stressed out come Christmastime when the gift-buying rush is on.

By starting a gift closet, you are planning in advance and less likely to spend needlessly or over budget. You can put more thought into what you purchase because there is no time limit to getting presents bought. You will be shopping all year round!

You can check out bazaars, special sales and secondhand stores and deposit your buys in the gift closet.

To keep your gift closet organized and avoid the risk of buying the same gift twice, make an inventory of everything you have purchased. This will also help you keep tabs on what you have so you can determine who is already bought for.

Apart from stockpiling gifts, you can also collect wrapping paper, ribbons and other accents when they go on sale.

Be Creative

Nothing is more amusing and appreciated than a gift that was specially made by you or your family.

Personalized gifts are far better than commercially made items. Making gifts not only creates a smile on the face of the one who receives it but will also cut back a large amount from your expenses.

Here are some quick and easy homemade gift ideas:

• Get your little ones to help you bake cookies and place them in decorative tins.
• Scope out craft stores for sale items such as empty glass Christmas ornaments, which you can then paint or fill with glitter.
• If you can knit or crochet, make some scarves and mittens.
• Use Sharpies to draw on coffee mugs. Let them dry overnight before baking in the oven at 350F for 30 minutes.
• Put together some cookie mixes and place them in a large mason jar. Attach the recipe and directions.
• Take a Christmas family photo and place it in a hand-decorated frame.

Organizing Tip

One of the best ways to save money on gifts is to be organized with the process. Before going to the store to shop for gifts, bring a shopping list.

You should have a list of everyone you are shopping for as well as a budget for each individual and an idea of what you want to get them.

While we love to splurge on those we love to make them happy, the truth is that the spirit of Christmas is not how much bigger and better the gifts are.

In the end, I am a firm believer that whether or not you can save $1000 for Christmas will have little to do with how ‘merry’ your holidays are.

The true spirit of Christmas is creating happiness, which can be done without overspending.