For college students, the end of the year is a stressful time between studying for finals and preparing for the holidays. For me, stress comes with finding a way back home, staying on top of bills, and studying for finals. The last thing on my mind is buying presents. I live on a very tight budget, so I try to be creative and stretch each dollar as far as I can when buying gifts for loved ones.
Here are a few budget-friendly gift-giving strategies I use:
- For older kids: I gift an “IOU.” I make a homemade gift card and put a dollar amount to use on a future shopping trip.
- For younger kids: I like to buy an art kit or toy pack with multiple pieces and wrap each item separately. I also jump on opportunities where a freebie comes with a purchase, such as a book and a free stuffed animal.
- For adults: Give them a coupon for “free night,” such as a free babysitting night. It gives the option to have a night out, or a night in, with people and gives you time to save up (or wait for a tax refund).
- Plan ahead: Make a list of people to get gifts for and set a budget. I shop throughout the year and store their gifts. That way spending is spread throughout the year, and I can sometimes give a bigger gift.
- Homemade gifts: My favorite strategy is to make crafts for people. I usually attend craft events on campus and save the craft as a gift. Or, I find inexpensive craft ideas on social media to recreate at home with materials I already have.
- Heartfelt gifts: I also like to write a poem or letter, saying how much I care for that person. People love a gift from the heart!
- Promotions: Look at your current accounts (credit or debit cards, banks, subscriptions, etc.) and see if they have any promotions or cash-back offers going on. Spending strategically might help you save money overall. For example, if you are a college student, some streaming services have cheaper rates than what is offered to non-college students. This will save you money that could be spent on gifts, so check your subscriptions for a “college student” plan, to see if you can save money.
Balancing college and finances is stressful. I hope these strategies help you focus more on finals and less on spending this holiday season.
~Mitch (She/They)
Peer Health Educator