The festive season is full of joy and merriment, but it can also come with financial pressures – especially when it comes to gift-giving. Finding budget friendly gift ideas is a great way to save money without sacrificing thoughtfulness.
At MyBnk, we believe the holiday season is a perfect opportunity to engage the whole family in money management. By exploring savvy savings ideas together, you can stick to your budget and also teach young people valuable lessons about thoughtful spending.
Here are some fun and budget friendly gifts that will stop your festive finances snowballing while creating meaningful moments with family and friends!
Budget Friendly Gift Ideas
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Charity Shop Challenge:
Why not set the family or your friendship group a fun and festive challenge? Head to your local charity shop and agree on a budget per item – whether it’s £2, £3 or £5. Charity shops are often full of unwanted Christmas and festive gifts, some still in original packaging!
If you’re doing it as a family, it’s a fun way to involve young people in the gifting process and set them a challenge to stick to a budget. It’s also a great way to remind children (and yourself!) that it’s the thought that counts – with a limited budget you need to think carefully about the person you are buying for.
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Hunt for the Best Deals:
Make a game of finding the cheapest prices for holiday presents. Use price comparison sites/apps like Trolley.co.uk to find the cheapest deals on gifts like chocolate selection boxes and toys.
You could involve the young people in your family and set up a challenge to see who can ‘find the cheapest.’ Not only will you save money, you’ll teach them all about smart shopping and you might discover some surprising bargains!
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Make Your Gifts:
Handmade gifts are a great way to save money and add a personal touch to your gifts. Have you got a crafty or creative talent you can put to good use? Here are some budget friendly gifts you could make at home:
- Knitting a scarf or hat
- Baking cookies or festive treats and package them beautifully
- Make a photo scrapbook of your favourite family/friend moments
You might need to buy the material costs, but the final result will be much lower than buying a shop-bought equivalent – plus it’s a much more personal and thoughtful gift! For inspiration, check out BBC Food article and this kids DIY gift guide.
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Make a ‘Promise Voucher’:
If arts and crafts aren’t your thing, how about giving a ‘money can’t buy’ promise voucher to a friend or someone in the family? This personal and thoughtful token of your time could be even more meaningful to your loved ones than a material gift!
These thoughtful gestures show you care, cost nothing and are guaranteed to bring a smile to your loved ones’ faces.
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Think Ahead for Baby Gifts:
Babies grow fast – too fast for many of the clothes they’re gifted over the holidays! If you’re shopping for a baby or young child, consider buying clothes that they can grow into next year.
If you’re not sure what size to buy for the baby right now, go for a bigger size and something they can grow into come spring or summer time. It’s also a thoughtful way to ensure your gift is useful in the months to come.
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Thoughtful Regifting:
Been given a present that isn’t quite right for you? It happens. If you can think a friend or family would like the item (and will actually use it!) then regifting can be a great way to pass along a gift to someone who will genuinely enjoy it.
Whether it’s a bath set you won’t use or a book you’ll never read, regifting is budget-friendly and sustainable – just make sure you don’t give it back to the person who gave it to you in the first place!
Let’s Stop The Snowball
We hope these budget friendly gift ideas inspire you to get creative this festive season. It can be easy to get carried away with spending in December, but gift-giving doesn’t need to be expensive in order to be meaningful. By exploring inexpensive family gifts together, you can stay on top of your finances and teach children and young people valuable lessons about spending.
Looking for more tips? Check out our article with more suggestions to stop the snowball this season, including our free gift budgeting template.
You can also follow us on social media for more money-saving ideas and join us in the movement to #StopTheSnowball!
