Gift Budgeting

[Princess7915]

I know that setting a Holiday Budget is a very personal thing. I was wondering, for those who wanted to share, how you decide on - and stick to your budgets! What do you all think of as fair and reasonable dollar amounts for kids (not your own) uncles, friends etc. For me, I usually try to set an overall Shopping Budget and then I assign each person a dollar amount. Sometimes I find this really tricky depending on the person - it's really hard to put a dollar amount down by someone's name, especially compared to other friends an family. Here is another question about budgeting. If you find a nice $25 gift for $10 after sales and deals which dollar amount counts toward the budget - the 25 or the 10? If you find a lot of stuff on sale for one person in a family but not others you can look like you spent a lot more on some people than others how do you make it look fair? This is why holiday shopping can make you nuts :)

[nicole20]

i too set a budget for each person, and that is what i spend on them. I try to stick with things that i know each person would really enjoy so whether one person gets two things with their 25.00 and another person only gets one gift they will both be happy with what they receive.

[pogiporkchop]

I've already brought this up to DH. I don't want a repeat of last year where I did a good job of staying within budget with the CC and then he still griped, which left me no choice but to return several items.... and then he complained about me returning them! But I digress... I am trying to get him to give me money to put aside for the holidays, which he seems agreeable to.

 

For the kids I try to keep things even in both quantity and amount spent. If DH needs something for someone (like a gift exchange at work) he tells me about how much the gift should be and any specifics that need to apply. Otherwise I just try to pick something I know the recipient will like and let them think I spent much more than I actually did

[amyers12345]

I try to keep things in budget by reasonable retail price (not the sometimes overinflated reg. price on some of the deals) unless it's a set gift limit, such as $5 per person, etc. Then I try to get as much as I can within that limit.

[canfleece]

I try to stay even with my three kids. As for family members and their kids we try to keep a set amount usually $25-30. If I get a gift card I try to find one of my bargains to personalize it for them. I too don't know if you go by what you actually spend or what the item is really worth in the non-bargain market lol. However with that said I almost NEVER buy anything that isn't a bargain or I have a coupon or it being on sale.

[starbeck96]

First of all our budget is very tight. So nearly everything we buy is on sale, usually bought Black Friday. For example, I have one niece and one nephew. I usually try to spend around $15.00 on each one of them, but this is a Black Friday price or clearance price. So alot of times if you looked at the regular price it may be as much as $50.00.

 

Aunts and uncles we usually spend anywhere from $5-$10. Grandparents is usually the same amount.

 

My husband is self employed and student so he doesn't have any co-workers to buy for and I am a stay at home mom and student.

 

We have three kids. I have twin boys that are 12 and an almost 4 year old daughter. So, of course the boys have more spent on them than she does because alot of the gifts she gets are things I am able to buy Black Friday.

 

We usually have a budget of around $1500.00 for everyone.

[Elmck]

I have been putting money into a Christmas club account each week, some weeks more some less. I am hoping to have $75 a piece to spend on my older 5 and $75 on their spouses. On DD7 I will spend closer to $125-150. My parents $50 each. Brother & SIL $50 for the couple. My office gets a family from social services so $40 for that. We do a name drawing with DH's family and I think the limit is between $25 and $35 for that. Teacher gifts etc it all adds up to fast. Hope I have saved enough or that I 'll get a bonus this year!!! This site is great for helping me stretch those dollars!!

[mgmckny]

My 2 boys both want cash and I was thinking 1 present under the tree for each, have already got the one for ds 13, something he requested a while ago==portable hard drive, 500g. My brothers and I don't do much for each other although I do more for my youngest as he is Mom's caretaker and more or less self employed and not able to work steady due to her....So I usually do more for him since he doesn't have disposable income for the treats, last year he got a netbook, so far this year I have him a drive also. My niece usually gets a piece of jewelry or something of that type, she just turned 18 so not sure for this year...Planning to spend less than 800 this year as I just don't have it. Have been doing some gift cards but now need to work on the cash aspect.

[samisma]

I don't know how I'm going to budget this year. Usually it's a $300 limit which covered: dd, dd's nana, my godson my parents, my brother, my aunt & uncle, df (who was just a boyfriend at this time last year)

 

But in a month I'll have all of the above, plus two nephews, and 6 little cousins who are very much like nieces & nephews to df, and a god-daughter, plus my df's parents, plus dd will have a new baby half-sister who should be born just days before christmas...

 

oi. and df was laid off in april and trying so hard to find work but no bites yet. bah.

 

at least he's taken care of - i got us a deal on the Christmas day game (cowboys vs cardinals) and he's a hardcore cowboys fan (figures i'm an eagles fan!). i've no idea what to do for the rest. double whammies: nephew has a birthday on new years' eve, goddaughter (df's) birthday is on new years day. oi. oi. oi.

[Gporter34]

I always set a budget and then do not stick to it. I am going to try and do better this year. Hopefully I can because my budget is a little tighter this year.

[rjncmj]

I just buy for my 4 kids and a small gift for my mom. Everyone else gets a Christmas card with a pic of the kids and/or Christmas dinner cooked for them. Lucky them right? . Right now my kids are young enough that I just need to match the number of gifts. They get one larger gift/play-set and then smaller gifts. Luckily they can't tell a $50 Polly Pocket set from a $20 Hot Wheels set...yet. So my budget determines the number of gifts. This year the budget is going to allow for only 3 gifts per kid. Luckily I have some items left over from BF's of the past, so I only need to buy about 3/4 of what I still need.

[Jen198]

I don't have children, so most of budget is for DH and family. some years are a less, depends on how the savings are.We use half of his Bonus from his work for christmas and he gets it the week before BF which works out great.My budget for friends and family are,

DH- we each have a limit of $250 for each other.

Older Brother and His Wife-$25 Gift card to a restaurant and a sweatshirt for him and gift bag from bath and body works for SIL

Younger Brother either $50 cash or gift..OR both

My Mom-$25 Gift card to Barnes and Noble, and another gift. (limit for gift $50)

Dad-Gifts..He is so easy to shop for =) (limit $50)

Nephew &Niece- $30 each..Maybe more

Aunt- Gift..wont say cause she's on here too lol

Cousins-Not sure..hmm

Friends-$30..just a select few.

[tn20]

I need to figure out my budget for this year... DH lost his job and is going back to school and I am a SAHM, so we are scraping by. This year our list will include DS7 (?), DS4 (?), DH ($25 limit), Me ($25 limit), MIL (?), my dad (?), step-mom (?), mom ($5 limit- annual gag gift exchange), step-dad ($5 limit), sister ($5 limit), brother-in-law ($5 limit), niece ($25 limit). All neighbors, grandparents, aunts, uncles, cousins, friends, etc. will get a tin (bought on clearance last year) full of homemade fudge, peanut butter bon-bons, and cookies.

 

For my boys, we try to spend about the same amount of money, but the big thing is to get an equal amount of gifts. For the $5 gag gifts, I buy as much as I can get for the $5... sometimes someone gets 1 thing and someone else gets 5, it just depends. Then for my dad and step-mom, I try to get comparable items, even if the prices are different, but I will set a maximum amount we can afford. I always feel bad though, because even when our budget is much bigger, we still only have an income that is a fraction of theirs, so my step-mom buys every member of my family a ton of things (hundreds of dollars worth of stuff for each person), and then we give them their small, inexpensive gift and I feel like a jerk.

 

I was thinking $700 - $30 Christmas tree - $75 Christmas dinner and baking ingredients = $595 for presents - $200 DS7 - $200 DS4 = $195 - $25 DH - $25 Me= $145 - $25 DN = $120 - $20 Gag gifts = $100 - $25 Dad - $25 Step-mom - $25MIL = $25 for wrapping paper, tape, ribbons, etc.

 

Geesh, that seems really tight... but as it is its going to be tough to even save up the $700. Oh well, its going to have to do! I need to cut up all my credit cards so I'm not tempted!!! Through a lot of sacrifice, we've paid off $30K of $35K in debt and I want last $5K to keep going down, not start going back up!

[elena_398]

I've given up a budget. Haha. Never have I stuck to it. I impulse buy. I know... bad.

 

I usually spend roughly $2000 a christmas. I already have that saved so no Credit cards this year. The biggest expense will be my kid's "big" gifts this year. My son is getting a laptop/case/wireless mouse and my daughter wants a LCD tv for her room. So we will get that plus a wall mount.

 

My husband is getting a GPS this year... he knows about it as he won a $200 giftcard to Best Buy so thats where I will buy it. So that expense is not there. Want to thank his work again. lol

[jade6700]

I've given up a budget. Haha. Never have I stuck to it. I impulse buy. I know... bad.

 

This is me!!! I guess you can say that my budget is what I have saved in the Christmas savings account. But I bought so much on sale already and haven't touched the account yet.

[Princess7915]

I know - sticking to a budget is hard. Sometimes I've been wrapping gifts and have them sorted into piles and I'm just like "OMG this is where $1000 went!" And sometimes I look and what I bought someone and I just think it doesn't look like much and I'm tempted to get something else. I also have family member guilt when you exchange presents! My mom is the worst! I'm her only kid -even though I'm a grown adult! And she always goes way overboard. DH and I go over to her house Christmas night and there are just piles of gifts and I have like 4 things for her - I HATE that so much! not that she cares - she loves to spoil us, ( I don't have any kids) but I just feel bad. She loves buying stuff for my hubby. He had a really crappy childhood and Christmas was pretty much non-existent. So my mom loves to buy for him and make a big deal - she's so sweet. Last year I think he had more gifts to open than I did at my own mom's house LOL.

[christmasangel]

I have a hard time stopping! I try to set a dollar amount but then if I find something for my SIL for $10 on a sweet deal I feel like I need to buy her more to get up to get up to the set amount.

I'm done with my nephew this year and spent about $20 on him. As much as I keep seeing cute things for him, I have to stop. DONE DONE DONE.

 

I'm a bargin shopper (arent we all on here?! LOL) so normally I can make my Christmas money streach pretty good.

 

My plan this year is to buy one gift every or every other pay period so it doesnt hit us all at once.

[pogiporkchop]

That's a good idea. I should start doing that too.

[doublehsmom]

My plan this year is to buy one gift every or every other pay period so it doesnt hit us all at once.

 

I buy 1 or 2 gifts each week as well. It helps so much! Normally I have more than what I do this year but I am sure that I will do just fine! My dh gets a Christmas bonus and its really big however he doesn't get it till the week before Christmas (NO WAY I CAN WAIT TILL THEN TO START) so its kind of nice being done way before then and just having that money!

[Kim3498]

I have a hard time stopping! I try to set a dollar amount but then if I find something for my SIL for $10 on a sweet deal I feel like I need to buy her more to get up to get up to the set amount.

I'm done with my nephew this year and spent about $20 on him. As much as I keep seeing cute things for him, I have to stop. DONE DONE DONE.

 

I'm a bargin shopper (arent we all on here?! LOL) so normally I can make my Christmas money streach pretty good.

 

My plan this year is to buy one gift every or every other pay period so it doesnt hit us all at once.

 

 

This does work very well. I buy a gift every week, also and have a hidden area in the house where I put extra money aside for DS and DH gifts. I don't bother with a budget, because we never stick to it. I don't even want to think about what I have spent so far...but have gotten a lot of great deals in the process thanks to this site. We always go way overboard for Christmas. DH and I always pledge to keep our gift under $250.00 each but we never stick to that. He has already broke the rule this year by asking for a gaming laptop. Lol. I buy for DS12 (so far all he wants is video games, video games, and more video games, and the new video game Kinect that goes with XBox 360) , DH (wanting a Laptop of his own, so I guess that'll be my BF big purchase this year), Mom-$150.00, Dad-$150.00. (I am an only child, and DS is their only grandchild so they spend way to much on us, and I try to at least get em something they will love). On DH family we buy for my MIL, SIL, BIL FIL (we try to keep our gift giving limit at $50.00 each on DH family side or less considering MIL has 3 grandchildren and she wants to keep it a little lower), 2 adorable nephews (they are 24 months, and 10 years). Their ages make it a little tricky to buy for considering younger toys are sooooo much cheaper than video games (that of course the 10 year old always wants) and make the gift giving look fair. I usually try to keep their gift totals around $75.00 each. The 10 year old doesn't care (or even notice)that he got 2 gifts to his little brothers 4 cause he's too busy gushing about the cool game he just got. DH's grandma, and uncle, and my 10 cousins 17 children. For cuz's kids I find things I know they will love on clearance or deep discounts. For example about 3 weeks ago I came across Aeropostale clearance sale with additional 30% off. Bought all the tween and teen girls Aeropostale zip up hoodies regular $45.00 for $11.49 each. Couldn't pass that deal up. I got an e-mail this morning from Toys R Us with Wii Video game Nerf n strike for $9.99. Went and grabbed some of those for the boys with the Wii systems. I look at it this way...Let em think you spent more than you actually did.

Edited September 23, 2010 by Kim3498

[fluffkin79]

Budget? What's that?

 

I did try to set a budget last year, but it didn't work very well. Practice makes perfect so maybe I'll do better this year. Last year's budget was really more about me trying to guess how much I spend on the holidays, then keeping track to see how far off I was. It was actually pretty close to the total number, but I wasn't able to stay at a certain dollar amount for any 1 person.

 

One side of our family has a drawing with a $20 limit per gift. I have a family of 5 so we draw 5 names, that's $100 and the only place I really stick to a budget. That covers the extended family on one side. Mom, Dad, Sis, and Grandma on that side are usually around $20, too. On the other side of the family I try to stick to $20 per person, but that is where I run into trouble. I like to give the 3 nieces/nephews something nice - they don't usually get much for Christmas. It used to be $20 for them, but that doesn't work as well now that they are getting older. It will have to be under $50 this year because we don't have much to spare. Cousins/cousins kids I go as cheap as possible. I have a toy stash from clearance, rummage (NIB), or freebies I find througout the year where I "shop" for these kids. All great stuff (really. my kids' gifts come from there, too) but I generally pay 25% of retail or less for these goodies, so I usually spend less than $5 each for cousins. Last year I gave my friends' kids a book ($1) with a candy cane and a homemade card from my kids. So, how much do I spend on other people kids? Somewhere between $1 and $50. My parents, sis, adult cousins and aunts/uncles usually get a box full of goodies from my stockpile: Soaps, shampoos, lotions, candles, treats, whatever I have. If I can think of anything else to give them I do, but adult gift giving is optional on that side of the family.

 

When I figure my personal budget I count how much I actually spend. I do try to get great deals, of course, and give something better than my budget would normally allow. Sometimes that means that for the $20 family gift exchange the people who give more suggestions of things they would like (or are easier for me to guess on) get lots of stuff while the people who want something specific get exactly what they ask for and nothing else.

[noehlp]

Here is another question about budgeting. If you find a nice $25 gift for $10 after sales and deals which dollar amount counts toward the budget - the 25 or the 10? If you find a lot of stuff on sale for one person in a family but not others you can look like you spent a lot more on some people than others how do you make it look fair? This is why holiday shopping can make you nuts :)

I go with total out of pocket. So, say the budget for a family member is $25, I try to get as many items as I can to reach that total out of pocket/after sale price.

[shopperpro]

I save mileage reimbursements and any other odd cash/checks that I can to buy for the fam. I have to buy for 2 neices, 1 nephew, 1 son, husband, in laws, 3 children who belong to my best girlfriends, my parents, my brother, my son's grandparents (on his dad's side) and something for me, of course. I am trying to keep things in perspective this year as my husband has recently lost his job and is now self-employed. I will buy necessary items and clothing for all the kids - a game or two for the younger children. A lot is spent on dinner too as everyone comes to eat at our home. Don't you just love the holiday, though

[stacyk9]

I put aside $100.00 every month and this is my gift money for the whole year (i.e. birthdays, anniversaries, etc.). Usually by October I've got somewhere in the neighborhood of $700-$800 saved up for Christmas presents. I've made a table in Word of everyone I have to buy for, what gifts I want to buy for them, how much I plan to spend and how much I've actually spent. I carry this with me everywhere I go so I don't forget!! Husband gets $100, son gets $200 (toys are expensive!!!), parents get $50 each and everyone else gets $20 each. I always count the sale price, not the original price because it's ACTUALLY what I spent and since I'm working with cash, it goes farther that way because when it's gone, it's gone.

[j2wice]

I dont set a budget. I watch Gottadeal site religously. I have a DS (21) and a DD (10) but between my husband and I we have 18 neices and nephews ranging in age from 23-4months. I buy all of them gifts one year we tried the name thing which would have been great but since I have two children the others where having to buy for their own kids extra gifts for the exchange. I have been able to find 16 of their gifts thanks to posts on here for a total of 85.00 shipped. I do not spend the same amount on my children I make sure they have the same quantity. My DS has down syndrom so he is excited regardless as long as their is at least one new video game and I have been able to pick up 4 of them so far for less than 20. I start in August and by Black Friday I am finished and just pick up great deals that my kiddo's would enjoy. I have done cash only for 5 years and love not worrying about how to pay for Christmas in February.

[Princess7915]

I think I'm going to love the cash thing too this year. First year we have set aside $ every month for a gift fund. It has really taken the pressure off! Finding 50 each paycheck is soo much better than 1000 at holiday time.

[Elmck]

Got my Christmas Club check in the mail on Saturday. I am going to keep saving until BF but it is a huge relief to know I have money to buy gifts with. Now to figure out how much I can spend on each person.

[dawn09]

I don't really have a set budget for my husband and kids, but i usually try to keep it around $25 for relatives each year.

[Tara3117]

I have a Christmas Club too. $30 from every paycheck goes in (direct deposit so I don't even see it) and then I have about $780 to spend. I usually try to get it to cover all the Christmas decorating and the cost of Christmas dinner, but that doesn't always happen. (Why yes, I don't have children.)

 

When I budget by person, I try to be really fair. $30 on each of the "nieces" (my friends' kids - 6 little girls ages 4 to newborn). We do $25 gift card swaps with our extended families, and then just our parents and siblings. Since I start out with a limit in mind, I just divide it among the family I have to shop for. "Can I afford to spend $60 this year on all 4 parents? No? How about $50?" I just play with it until it comes out right.

 

To your other question, if I get a $25 item on sale for $10, I call it $10. If I'm trying to spend $25 on the person, I look for another gift that I can spend $15 on. That way they get the benefit of the sale. My family knows that I spend the same on everyone so I don't think anyone feels slighted if I got a better deal on one person's gift than another. I don't know what my in-laws think about it, but, since it's coming from me, I'm sure the answer is "not highly".

[Kibit13]

We've decided to go with the original retail price when I buy gifts. So if I set a limit of $25 per person and I find a gift that has an original retail value/price of $25-40, and I am able to get it for $15-20 (or less) than I will buy the gift and then be finished with that person even if I haven't spent $25. Then I put the leftover money back in the bank.

 

This is my first Christmas shopping/buying/giving this way. I used to spend every last drop of the $25 and give gifts that had an original retail value of at least $50+ dollars. Last year I spent $30 on my niece and the original retail price came to $150. (Robeez, Gymboree, DKNY)

 

The reason I have stopped doing this is we've been making people uncomfortable with the amount that we are giving. Their words, not mine. I have explained that I always look for good deals when I shop and that we do not go over budget, but I don't think anyone in DH's family believes that we can find $150 worth of quality gifts for $30. When we do gift exchanges with a specific limit they always think that we go over the limit even though we don't and most likely spent less than they did. I have also heard that people felt uncomfortable giving us a $25 gift when the gift we gave them was a $50+ gift. I'm not sure why this is the case, but I am going to do my best to stick to or close to the original retail price. I don't want anyone to feel uncomfortable about a gift we give :) at least with DH's family. My family knows how I shop and they love it. Heck, my Mom taught me and after we open our gifts we will sometimes say, "OMG, I got such a great deal on this!"

 

 

Has anyone else had this issue? Quite frankly I am not sure how anyone shops for the holidays without looking for an awesome deal!

Edited October 15, 2010 by Kibit13
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