A woman tying a bow onto a present

Gift Giving on a Budget

Gift Giving on a Budget: Affordable Gifting + Budgeting Tips for the Holidays

Gift-giving can be one of the most joyful parts of the holiday season. For many, the joy is dampened by the cost. Fortunately, with a bit of planning and creativity, you can give thoughtful gifts without overspending. Here’s a guide to making your holiday gifting season both affordable and memorable, along with tips on how Central Willamette’s credit card rewards can make your holiday purchases even more rewarding.

  1. Set a Budget for Gift Giving
    1. Before you even start shopping, take a close look at your finances and determine how much you can realistically spend on gifts. Setting a clear budget for gifts helps you avoid overspending and ensures that you start the new year on the right financial foot. Here’s how to set a smart gift budget:
    2. Make a list, prioritize twice: List all the people you plan to give gifts to, from family members to coworkers, then prioritize who is most important to include in the budget; if you have leftover money, you can include those lower on the list.
    3. Allocate a set amount per person: Once you have a total holiday budget, decide how much you’ll spend on each person. Sticking to this limit can keep costs in check.
    4. One of the benefits of setting a budget and using a CWCU credit card is that you can track your spending more easily. Plus, you’ll have the opportunity to earn rewards that could cover some of next year’s gifts!
  2. Feel Luxurious on a Budget: When budgeting, it’s important to think beyond traditional–and often expensive–gifts. Thoughtful ideas can leave an impression that lasts longer than a high-dollar item ever could. Here are a few creative, budget-friendly ideas to consider:
    1. DIY and Personalized Gifts
    2. Handmade gifts are thoughtful, and they show you put time and effort into the recipient.
    3. Custom photo album with printed photos and personal captions.
    4. Homemade candles or soap using easy-to-find ingredients.
    5. Personalized recipe jar with the ingredients for a favorite recipe layered in a jar.
    6. Gift baskets with thoughtful items and themes; alone, these items might not be exciting, but combined, they’re unforgettable.
    7. Experiences and Acts of Service- Not all gifts have to be tangible; sometimes, experiences are the most appreciated:
    8. Create a coupon book of services like babysitting, a home-cooked meal, or helping with errands.
    9. Take them out for a coffee or brunch, treating them to a nice time together rather than a material gift
    10. Plan a fun day out together doing something you both enjoy, like a hike, picnic, or museum visit.Subscription Services
    11. Consider giving a monthly subscription for a small monthly cost, rather than a larger number up front (be careful to include this in your monthly budget).
    12. Book or audiobook subscriptions like Kindle Unlimited or Audible
    13. Streaming service gift cards for popular platforms.
    14. Food and snack subscription boxes that deliver unique treats.
  3. Take Advantage of CWCU Credit Card Rewards: When it comes to holiday shopping, using a CWCU credit card can help maximize every dollar spent. Here’s how:
    1. Earn 1.5 points per dollar with our Signature Rewards card. Best of all, you can use those points toward your gift budget next year with our great selection of rewards!
    2. Redeem points perfect for last-minute or hard-to-shop-for recipients.
    3. Using a credit card responsibly, especially one with good rewards, can make budgeting for the holidays easier and leave you with rewards that can be saved or used for future expenses.
  4. Be Strategic: There are tons of resources available for coupons and cashback to maximize your savings. 
    1. Use cashback and coupon sites like CouponCabin, RetailMeNot, and Capital One Shopping for cashback you can use towards other gifts and expenses.
    2. Get discounted gift cards through similar sites to use online or in-store.
    3. Shop around sales on Black Friday, Cyber Monday, and other holidays throughout the year when you can find great products at huge discounts.
  5. Sticking to Your Budget and Avoiding Overspending: Even with the best of intentions, it’s easy to overspend during the holiday season. Here are a few more tips to help you stay on track:
    1. Shop with a list and stick to it. Avoid impulse purchases by focusing on your pre-planned gifts.
    2. Compare prices online to ensure you’re getting the best deals. Many retailers offer price-match guarantees during the holidays.
    3. Use rewards to offset costs if you’re a CWCU credit cardholder. Redeeming points or cash back toward gift purchases can make a difference.

The Gift of Financial Peace

Gift-giving on a budget doesn’t mean skimping on thoughtfulness or fun. With careful planning, creative ideas, and smart financial tools like the CWCU credit cards and PayDay loans, you can celebrate the season without worrying about finances. So, get started now, be mindful of your spending, and remember that the best gifts are often the ones that show love and thoughtfulness, not the biggest price tag.