Sunday Tips: The Frugal Guru’s Gift Guide
Gift giving is one of the best ways to show that you care
March is the black-hole in my financial statements. There are quite a few many occasions in that month, from wedding anniversaries to birthdays. And because there are so many occasions, I’m broke not even mid-way through the month! I’m sure many of you have similar months when you feel like the occasions just seem to pile up and even though you want to be joyful and celebrate along with everybody else, there is a nagging voice in the back of your mind panicking, “WHAT DO I GET?!” and when you get that message on your cell phone from the bank telling you how much money you have left in your account, that voice catapults to take control of your entire brain and screams, “WHY GOD? WHY?”
So here’s are two tips that you can find on any financial blog:
1. Save up for gifts in advance.
In the same way that most financial advisors will ask you to create an emergency fund, it’s also a great idea to start up a ‘Gifts Fund.‘ You can withdraw from this gift fund whenever there is an occasion. This allows you
A)to realize that you have a budget, so if you have X number of occasions and Y dinars saved up, you know how much you can spend.
B) Not have to worry about last minute gifts that come along with out-of-the-blue bridal or baby showers, strategically placed at the end of the month, when you have enough money for only the coming week.
C) Avoid using your credit card on something that is not essential and thinking that you can afford said gift when really you cannot.
2. Recycle gifts.
Many people do this, although they would rather not admit it. This technique, however, works especially well when gifted perfumes. Not only do people’s tastes in perfumes differ, people will always already have perfume bottles, and more than one, for that matter; so if someone gifts you a perfume set, do not open the wrapping. Clean out a drawer and keep your perfume gifts there. You can always recycle these gifts and give them to an acquaintance or someone you work with but are not on friendly terms with.
Note: When you gift someone, make sure you spend the same amount that they did on the gifts they gave you. There is no point in gifting people really expensive gifts if they’re not going to gift you at least half that amount. This should be a rule of thumb. Plus, it can be nerve wracking for people to receive really expensive gifts when they know that:
They cant spend the same amount you did because they cant afford
or
They wont spend the same amount
When buying a gift it has to be something that the other person will enjoy, especially if its a loved one. Most people buy gifts that they like or they think the receiver will like, however, the art of gift giving entails that you pay particular attention to what the other person wants, and according to your budget, you can make that come true. The recent trend in gift giving is the Gift of Experience, which experts are raving about. Instead of buying something that may or may not be used, you can buy a ski lesson, or a pottery class session, depending on the interests of the receiver. That way, you know you’re gift will be received with enthusiasm and a major part of it was a learning and fun experience that created memories that will last and last.
The Frugal Reader:
1. 7 Amazing Lessons from Peak Performance Coach Tony Robbins: “There’s no sense in re-creating the wheel. Find someone who’s succeeding and do what they did. If it worked for them, it will work for you.”
2. How to Choose an Accountant for Your Small Business: “A good accountant is invaluable if you are seeking capital. He can help you evaluate various options available for business financing. He can read your financial statements and tell you exactly what your lenders are looking for.”
3. 8 Effective Ways to Raise Frugal Kids: ”While electronics don’t necessarily advertise to kids, they do have an impact on their attention spans. In addition, overuse may adversely affect their relationships with other human beings and their ability to enjoy other forms of activity, especially quality physical activity.”
* Financial tips will be posted every Sunday, so keep a look out!
*What are you gift-giving tips? Do you have a gift fund? If not, start one NOW! 
