With the recent spike in inflation, mainly due to higher demand and a shortage of goods coming out of the pandemic, many retirees are concerned about the impact increased prices will have on their monthly budget. Add in the fact that this is happening around the busiest shopping season of the year, many retirees are wondering if there are ways in which they can save money on holiday gifts. If you are retired and living on a fixed income, below you will find some ways in which you could save money on gifts this holiday season.
Shop online/bundle orders
While shoppers showed up enforce at brick-and-mortar stores on Black Friday, over the past few years retailers have pushed a lot of their deals online. Whether it is meant to reach a larger customer base, accommodate those who may not want to stand in line, or perhaps to pass along the deals to those who are not yet comfortable going into a crowded store, online deals are abundant this year, and you can still find these deals today. If you are shopping online, be sure to search for promotion codes. These codes may apply a discount to your order or provide free shipping. If you are unable to find any codes but would like to save money on shipping costs, then it may make sense to combine your orders. Many retailers require you to spend a certain amount before they provide free shipping, so combining orders may get you over the threshold.
Use old gift cards
Do you have old gift cards sitting around? I know I do! If so, they can be a great way to save money during the holiday season. There are two approaches that you could take with gift cards. The first is to regift the gift card; this way the recipient can spend the money on something they want. However, I understand that some people feel that giving a gift card can seem like an insincere gift. Therefore, instead of giving the gift card, you could use the gift card to purchase a gift that you know they would like. I can ensure you that they will never know that you used the gift card to purchase the gift.
Group gift
A group gift can be a great way to save money, especially if you have multiple children or grandchildren. Instead of purchasing multiple less-expensive gifts, you could ask other family members to go in on a big gift together. Not only will the recipient be happier with a bigger gift, but the group can all share in the joy on the face of the individual who received the gift – which is a gift in and of itself.
Share experiences instead of money
Not all gifts have to be purchased. In fact, one of the best gifts you can give is you. This can come in the form of spending time with your loved ones or simply sharing your experiences. Perhaps you have a secret family recipe that you never shared with anyone. Instead of just gifting the recipe, it may be a nice idea to cook the meal together. This way you can share where you got the recipe from and pass along your passion for cooking. Do you have a family heirloom that is important to you? If so, this may be a great opportunity to pass it along to the next generation. Not only will they receive the heirloom, but they can hear the story behind it and why it is important to you. I have a strong feeling that the memory of cooking that special meal or hearing the story of the family heirloom will last longer than any gift you could purchase.
