The holidays are a time for family, fun and financial freakouts. The holiday season is stressful enough with finals and impending family commitments, and adding the pressure of gift giving can raise even more worries.

When tackling holiday gift giving, especially on a college budget, it is important to be knowledgeable so you can not only enjoy the season, but also go easy on your wallet.

Make that naughty-and-nice list

Around the holidays it becomes essential to plan out expected gifts and an allotted budget. Determine how many people you will need to give gifts to and the amount you’re willing to spend on these gifts. For example, you may not choose to give the same size gift to your significant other as you would your mother. Regardless, there are a few ways to set up this budget; you can have a set price limit for each individual on your list or have an overall budget. To be as sufficient as possible with finances, it may be wise to establish an overall budget because that way you have a more definite total limit.

Another helpful way to stay on budget would be to take your allotted money out in cash. This way, you will not be tempted to go over budget as easily as if you used debit or credit cards.

Play a holiday gift-giving game

A fun idea if you are buying gifts for everyone in your friend group, roommates or office is to suggest a Secret Santa or white elephant exchange. This is a way to cover a lot of bases; instead of buying gifts for each individual in the group, you are required to only buy for one person, yet everyone walks away satisfied.

Traditionally in Secret Santa, you are given the name of one person participating in the swap, and the object is to buy a present he or she would actually enjoy. A white elephant exchange, however, involves finding the most random, hilarious gift possible. Both are exciting, rewarding and easy on your wallet.

Do not buy more than your sleigh can hold

Once you have made a list of everyone requiring presents, it is now time to decide what you would like to buy for each person. You already have your price limit, so look and see what you can afford.

However, overbuying can become very easy when you keep finding one more of the right gift. Just because you can fit six presents inside your $20 budget does not mean you should; once you over buy for one, you are more inclined to fall prey to overbuying for all.

Give from the heart, not the wallet

Pinterest has helped make do-it-yourself ideas readily available and, even more, complete with simple instructions. Think of skills you have. Do you love baking? You should use your talent to make homemade desserts to share in a holiday-themed baskets. Do you like to knit, crochet or sew? You should try to make a scarf or hat for your friends; it is something they will not only love simply because it is practical, but also because it was handmade just for them.

Another popular idea is to take a blank coffee mug, decorate it and bake it in the oven to make the decorations permanent. With this idea, you can personalize the mug with any desired design or quotes specific to the individual receiving the gift. This typically works better when decorated with a paint pen, which can be found at any craft store, as opposed to Sharpie. The Sharpie does not always stay on well once baked and washed in a dishwasher. The final step involves placing the mug in the oven at a temperature of around 230 degrees for around two hours.

Another idea for a DIY gift includes a spa in a jar, where you place spa-like products in a simple little jar. It will look neat and will be appreciated by any always-stressed college student.

‘Tis the season for online shopping

If you’re a fan of getting deals online, this form of shopping may be the way to go for the holiday season. However, if you choose to shop this way, it is important to be wise about it. Just because you are getting it online for $10 does not mean it is a better deal  than the store if you end up paying extra for shipping and handling. Know how to search around; look at different sites to make sure you are getting the best deal and the lowest cost on shipping.

SAVE, SAVE, SAVE!

It can be very easy to become sucked into the holiday season, with all of the festive things the stores have to offer. From themed towels to holiday scented soaps, there are many things you do not need to spend money on.

During this season, everywhere you look has festivities to offer. Whether it is festivals or light shows, make sure you choose wisely. There is always a multitude of holiday events that are free, so focus on those more, as opposed to the costly ones. Even if they only cost $7 per person, it can add up in the grand scheme of things.

You can also easily save money on things you many not even think of. For wrapping paper, you could use newspapers or make your own. Utilizing dollar stores can help save money on gift bags, allowing you to buy two for $1 as opposed to buying one for $3. It can also be helpful to make your own Christmas cards and decorations. This not only saves money, but also allows you to put a more personal touch on your gift giving.

Keep the holiday season merry and bright  by budgeting

It is important to remember that spending money is not saving money. Just because the $150 dress is on sale for $50, does not mean you need to buy it for your friend. Every time you buy something, you are spending and not saving. Therefore, if it does not fit your budget, you do not need it — no matter how great the sale.

You should always be on the lookout for deals, but do not get carried away. Just because that one thing is the hottest deal of the year, does not mean you need it now; there will always be deals. Stay on track with your plan of action, and be careful not to get distracted with the so-called “best sales of the year.”

Always value quality over quantity. While it is important to try to find the best price, it is also important to give a gift that has value. Buying one thing of meaning and quality as opposed to 10 small things can make a difference.

Caitlin Grove

Via alestlelive.com