Of course, you are covered by all the usual guidelines in your budget and don’t want to overspend or risk exceeding it. Then again, the last thing you want to do is spend all your money on gifts, then sit there begrudgingly receiving them. So the first thing you need to do is set yourself a budget. Once you know how much money you need to spend on gifts, you can start thinking about the numbers involved.
The easiest way to do this is to simply set yourself a spending limit and stick to it. However, if you have a family that is unpredictable, how can you tell who needs something expensive and who doesn’t? A good tip is to set yourself an overall limit and break this down into major categories:
HOLIDAY GIFTS – Low-cost luxuries
According to Rachel, founder of Relentless Gala, this is enough to cover any costs the family may incur while abroad, and also keep up with the cost of everyday living in the UK. With it, “all you need to do is transfer money, which will then be accepted as soon as you arrive in your destination – you’ll be able to purchase gifts and essential goods and keep up with your daily bills”.
This is often just a quick Internet search for information on a specific holiday activity (for example, “ham and burgers” or “sea-fishing”). Rachel does say that you may have to spend more on postage because this comes from a small country, which “can be a headache”.
TIPS TO BEAT INFLATION
The good news is that in 2018 the cost of living in general is actually going down, and there are lots of ways to make your gifts cheaper. Using these handy saving options will ensure you won’t be out of pocket or lag behind the price of inflation.
Not only does the Itv Christmas Gifting Guide show how to beat inflation, but Rachel also reveals some top money-saving tips on how to afford items you never thought possible. For example, you can take a book to the airport for only around 50p, and with UK flights only costing about £40, you could also buy tins of beans for a minimum of £4.25 which would allow you to buy a multi-pack of 40 for the whole family.
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