{"id":18922,"date":"2025-01-09T15:25:02","date_gmt":"2025-01-09T15:25:02","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/how-to-give-gifts-without-going-broke\/"},"modified":"2025-01-09T15:25:02","modified_gmt":"2025-01-09T15:25:02","slug":"how-to-give-gifts-without-going-broke","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=18922","title":{"rendered":"How to Give Gifts Without Going Broke"},"content":{"rendered":"


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Budget for gifts and set up a sinking fund<\/h3>\n

Gift-giving should absolutely be celebrated as long as it\u2019s not putting a strain on your finances to the point that you\u2019re taking on debt or coming up short at the end of the month. One way to ensure that you have money to be generous with those around you is to budget for it. You can either budget a regular monthly amount or set up a sinking fund<\/span><\/a> to contribute to throughout the year. If a gift-giving situation comes up, consult your gift budget or sinking fund to determine whether you can swing it.<\/p>\n

Identify what\u2019s important to the recipient<\/h3>\n

Growing up we\u2019re taught to treat others the way that we want to be treated, but there is something to be said for the idea that we should treat others the way that they <\/em>want to be treated. Just because gifts are how you <\/em>express and receive love doesn\u2019t mean that it’s the same for the recipient. This is good news for your wallet! Rather than getting them a gift, they may actually prefer an act of service or quality time with you. This can lessen the impact on your budget while increasing the satisfaction of the recipient.\u00a0<\/p>\n

Prioritize thoughtfulness over price<\/h3>\n

Some gift-givers fixate on the \u201chigher price, more value\u201d mindset and feel obligated to spend a certain amount on a gift. There is no \u201cright amount\u201d for a gift. It should be based on what you can afford and feel is reasonable for the occasion. If you often overextend yourself by spending on gifts, try reducing your target gift amounts. For example, if you\u2019ve typically spent $50 on your mom\u2019s birthday gift, challenge yourself to find a great gift in the $30 range.\u00a0<\/p>\n

Final Tips<\/h2>\n

Giving gifts is a way for you to express love or appreciation\u2014you are under no obligation to give a particular type of gift or spend a certain amount on a gift. In fact, if the recipient cares about you too, they would not want a gift that causes you financial strain.\u00a0<\/p>\n

Need help with your gift spending?<\/em><\/strong><\/p>\n

To get started, <\/em>schedule a free 20-minute consultation<\/em><\/span><\/a> call to speak to a member of our team. We will ask you a few basic questions to get to know you more, walk you through our financial training program steps, and of course answer any questions you may have. No pressure to join! Need advice quickly? Talk to one of our <\/em>Trainers on Demand<\/em><\/span><\/a>.<\/p>\n<\/div>\n