Modern Americans are slaves. Their masters: the Hallmark Industrial Complex. Every month there’s a holiday, and you’re always expected to get someone a present. The worst part? Most of what your purchasing is filler. It goes unused and unappreciated. And because of this, I’ve stopped giving presents. In fact, I don’t ever buy Christmas gifts anymore.
Instead, I’ll explain my revised gift-giving strategy and how it’s actually more effective than handing out endless streams of $20 junk.
Do The Math On How Much You’re Spending For Holidays Each Year
Mother’s Day is in May, typically I’d buy something for my mom and grandmother. June contains Father’s Day, my nephew’s birthday, and a wedding anniversary (for some reason our family gives gifts for these). July is my Grandfather’s birthday and another anniversary.
Traditionally, I’d spend between $20 – $50 on a single gift for all these events. So let’s just add up our costs so far:
Mother’s Day ($60) + Father’s Day ($60) + birthday ($25) + anniversary ($30) + birthday ($25) + anniversary ($30) = $230.
Yikes! That’s a lot of money, especially since many of these gifts are unmemorable. You could easily put that money into an index fund or saving account, and knock out a chunk of your annual financial goals.
If you’re under 30 and just getting your finances in order, there’s no reason to spend so much on gifts and holidays.
Why I Don’t Buy Christmas Gifts
For many Americans, Christmas is the most financially stressful time of year. They have to buy gifts for everyone, putting a massive strain on their budget.
Christmas is also a holiday where a ton of people go into debt, trying to buy things for friends and family. That’s never a good strategy, and there’s no sense in destroying your financial future so Aunt Petunia gets a new margarita maker.
December is actually my most expensive month (for unrelated reasons), and it’s a time of year when I really don’t need the added burden of spending more money.
Because of this, I no longer buy Christmas gifts. And what I do instead makes people one hundred times happier.
Get Your Friends And Family One “Heavy Hitter” On Their Birthday Each Year
All my friends and family get one present per year. And they get it on their birthday. This way my gift-giving is spaced out across, and I’m not madly rushing to buy stuff in December.
What I do is add up everything I would have spent on generic gifts (like a tie for Father’s Day, or flowers for Mother’s Day) and use that money to buy “heavy hitters.”
What are heavy hitters?
They’re big presents people love, and will use on a regular basis.
Here’s an example. I bought my Grandmother a (used but very good condition) Gucci purse. It flabbergasted her and she uses it every single day.
Even crazier? The total cost was actually less than what I’d have spent buying her little $20 – $50 presents all year.
If you hate gift-giving and find it stressful, cut back. Maybe just buy (or do) one nice thing a year for a loved one’s birthday. It’s less expensive and more appreciated.
