This is one of those areas that it is really easy to feel obliged to give others presents or gifts for those special occasions like birthdays and holidays. It is possible to save money on these items, as long as you are being creative. You don’t have to get them a cheaper gift because you feel like you can’t spend the money. Far from it. The whole idea here is that the gift you do end up getting them will be even more special because more thought will have gone into it.
Buying gifts can be fun and even exciting, especially when you know exactly what the other person wants. After all, ‘stuff’ is fun to have and play with. The thing is, if spending the money on this stuff to give to someone else puts you in a financially tougher situation, then all the intention behind it is wasted because the other person could even feel guilty accepting such a gift. It is another one of those philosophy of money types of things.
Maybe some of these could be homemade or re-purposed.
So, how is saving money on gifts possible, given all of this? Well, it is possible to create gifts or re-purpose some things that you have around your home. If you think that only new, store bought items can make your intended recipient happy then you might be underestimating your relationship with them. If it is a child, well, we will get to them in a minute. This individual whom you plan to give your gift to will be much more impressed and delighted to find a cared for and created item that can cost you little to nothing.
Think Martha Stewart. Guys, you’re probably about to stop reading at this point. Don’t be scared, we aren’t about to dive into some discussion on lace or ribbon or anything like that. The point is, she has ideas that most anyone can appreciate if you are at all creative or craft-minded. Sure, some of her ideas will cost you more to make in terms of having to get a bunch of supplies for, but others are practically free with the right things from around your home. Would you associate something from Martha as being cheap or flimsy? Nope, and neither will the recipient of your wonderful homemade gift.
Now, back to kids for a moment. Often, kids will want what they either see other kids playing with or something that is heavily advertised. I don’t think kids in the middle of a rural country side are dying to have a Dora backpack, those Liv Dolls or a laptop. Don’t get me wrong, kids can have fun and even learn with these, but giving them something they could probably use or play with outdoors would probably be more impactful to them. Think back, it may be decades ago, but just because technology has improved, it doesn’t mean kids must get the latest gadgets and stuff. Again, these things can be fun, so you might have to set limits.
There is a bigger problem which is learning how to save money if you think the more you get your kids, the happier they will be and the more they will like you. This is a really dangerous road to go down. I don’t think that you have raised kids like this and probably don’t want to either. So, if you are in a comfortable situation financially, but are just looking to pull in the reigns, then buy one gift. Maybe this gift is new and from the store. You could add to the amount of stuff you give as gifts by making things or having them help you make things for others.
Some friends of ours started a great tradition with their kids from a very young age. What they did was at every special occasion, like a birthday or holiday, when they knew that there was going to be a new crop of stuff in their home, they would ask their kids to go through their things and take them to a local Goodwill or donation drop off type of store. Two things happened, maybe more. One thing was the parents got to rid themselves of all the excess things that accumulate over time that the kids have grown out of or simply no longer enjoy. The other thing that happened, which is right up our alley at Save Money Topics, was the lesson the kids learned. They gained the most valuable lesson of all concerning money, which is that hording only leads to less abundance. In order to grow not only your wealth but your also personal and spiritual self, giving is where it is at. Giving as a way to save money, who would have thought? Well, you did, that’s who.
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This is one of those areas where we often feel like we deserve something. Well, if you are in debt for things that you have ‘deserved’ in the past, then you know this trap. In order to save money on entertainment costs, you need to see what things you and your family could enjoy that do not cost money, or as much money, as you are used to spending.
The obvious ‘no brainer’ so to speak in this whole scenario is that if you don’t have the money to spend or are feeling the pinch of financial stress, then spending any money on luxuries like vacations, concerts or eating out is just childish behavior. It is the “I want to” attitude. If you have kids, then you’ll remember that early childhood period when the answer to your questions was “because I want to”.
Entertainment costs can get expensive - money you could be saving.
While certainly the truth in their minds, your child is not understanding the importance of delayed gratification – this concept does not exist to a child at this age. If you are living your life this way, not saving money and spending what you make on things because you want them, you are headed for trouble.
In fact, most U.S. Americans are in this sort of trouble. There is no other place in the world that has the type of debt amassed on revolving credit that we do here. Why do you think this is? In part, it is because we have some belief – and who knows where it came from – that because we work hard we deserve to spend it. Do you think this is any way to learn how to save money? Will your kids learn any differently if you continue with this behavior?
All right, so we’ve laid out a brief look at the problem, now it is time to do something about it. So, how do you save money on entertainment costs? The first place to look is in what ways you currently spend your money. Some people will give you formulas for determining budgets and such for different categories. This can all be helpful, but I am not going to introduce that concept here. This is just an introduction to the philosophy of saving money, not the course on exactly what step to do next.
Determine where you are spending the dollars you are making coming in. How much do you spend on entertainment costs like eating out and leisure. If you make a large income, then you may not need to cut back to nothing, just be reasonable. If your leisure spending is totally out of balance with your income, time to re-evaluate. If you have kids, you’ll need to determine what activities you can participate in that do not require long car trips, plane rides or admission tickets to get in. Don’t worry, your kids will be fine. It’s amazing how few kids are teased because they didn’t go on vacation when they were 5 years old! Seriously, get over it. The vacation is more for you than it is for them, so give them a memory in other ways. There are places close to home where you could give them just as much of an experience that they will remember forever. If it is just you or you and a partner, make exploring your local attractions or own backyard your next vacation destination. You’ve heard these called “stay-cations”. It’s a great term because it captures the essence of both the vacation element and the fact that you don’t have to leave far from home.
The over riding point is this: you still need to enjoy time off of work, you just don’t need to spend yourself into anxiety getting it. Just like with the other advice given on Save Money Topics, there is always another way to make it work. You shouldn’t fret over doing it the way so and so said or compare your financial stance with your neighbors. It is hard to imagine a feeling until you experience it. There is something inexplicable of enjoying time with family that is created from the combined energy and time together. Try it, you’ll like it.
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http://www.flickr.com/photos/keithallison/ / CC BY-SA 2.0
I’ve had it up to here with all the money saving tips talking about giving up coffee and stuff that is all about JUST limiting our lifestyle. I think there are ways to embrace the full American-capitalist lifestyle, save money AND be kind to Mother Earth. One way that has been proposed to save all sorts of money is to stop buying coffee at your local favorite coffee shop – let’s call it Starcups for example.
If you just stop going to Starcups, you will find that you can save an average of close to $5 USD per day. If you go there every work day, then you spend close to $100 USD per month. Okay, yes, that is a fair amount of money that you are spending simply to get a few hours of extra production in at work for your boss. Assuming you actually enjoy your cup of joe, then you consider it a fair trade. Did you know that some estimates show that skipping that one $5 cup of coffee each day adds up to $ 100,000 USD (if invested with interest) over the course of about 40 years? Hey, wait a minute, that doesn’t sound like such a great deal after all!
But, I propose that you don’t just cut out your coffee to save yourself some green. I suggest that you brew your own at home or work and save the environment – at least contribute to it – in some way. Here is how this can work. For starters, you can buy ‘fair trade’ coffee that is organically grown and processed. Yes, this coffee will cost you more money and it will be slightly harder to find from your local big chain grocer. However, because how the green movement is gaining more and more momentum each week and month that passes, you may find that you can get it after all with little disruption to your normal shopping. This is a big key!
You Will Not Save Money or the Environment If It Is Inconvenient
Just like most things in life, if it becomes too much of a hassle, you will not do it. Why do you think so many people start an exercise program or new diet in the New Year only to resume normal habits around March sometime? In most cases, it was too much to change to your daily or normal routine. The same thing applies here. One way to combat this is to order it online and have it shipped directly to your home. Another option could be to share the cost with your co-workers and have it shipped there. Then, everyone can save money by cutting out their ‘coffee run’ but still enjoy their morning get-up-and-go juice.
The benefits of this are several. For one thing, the coffee you will be drinking is not processed with all the chemical agents that most coffee is subjected to. This organic coffee is simply better for you and you might find it better tasting. In addition to this, you will be doing your part to enhance the growth and sustenance of local farmers in areas who may not have access to the same economic resources that others do. So, if you are a true capitalist, you will happily support these entrepreneurs. Finally, because you – and possibly your co-workers – will not be driving to Starcups to get your coffee, you will be saving gas and even more money.
Do you want an even greater extrapolation of how to save money? Okay, consider all those other pre-coffee-filled- zombies driving to the same coffee shop you are trying to get. Less driving means less likely risk of an accident. Less accidents equals lower car insurance premiums. This means even more money you can save and put into your little piggy bank. And if you think this is a little too much of a stretch, think again. Studies show that more accidents are caused by drowsy or inattentive drivers in the rush hour times than any other times of day. Plus, the less time on the road you spend means that you will have more time to either get productive work done and leave early when possible, or simply have more time in the morning before heading to work.