Inexpensive gifting without feeling like Scrooge

Holiday spending adds up quickly! This season, shoppers will spend $800–$1,100 on gifts, decorations, cards, and food, and travelers can plan on another $1,000–$2,000 for flights and hotels. If those numbers fit comfortably into your budget, that’s terrific. If not, your friends at Flagstar can help you rethink holiday spending without sacrificing any of the joy.

For example, when it comes to gifts, there’s cheap, and there’s frugal. Reused, wrinkled wrapping paper? Cheap. So are bent bows, off-brand chocolates, and reduced-for-quick-sale poinsettias that start wilting before you get home.

But frugal? That’s being thoughtful and intentional. With some creativity, you can open an entire universe of affordable holiday gifts without emptying your wallet.

Start with a few boundaries for holiday spending

Temptation is everywhere, but slowing down, simplifying, and setting limits can help you stay in control. This year, challenge yourself to stick to one or all of these guidelines.

• Give fewer but more meaningful gifts.
  Consider focusing gifts on kids only, doing a name-draw gift exchange with a dollar limit, or skipping gifts entirely and donating to a charity instead.

• Set a holiday budget.
  Decide on a limit, then list everyone you’re buying for—not the other way around. And if someone surprises you with a gift, you don’t need to run to the nearest store to buy them something in return. According to etiquette experts, a warm “Thank you” will suffice.

• Don’t max out your credit cards.
  Your January statements are just around the corner. Keeping your balances manageable and knowing you can pay them off will make the season even merrier.

Save money with gifts of time

This is the ultimate in frugality. Spend time and save money.

• Share your expertise.
  If someone admires your cooking, photography, fitness routines, or financial know-how, offer a lesson or two as a holiday gift.

• Offer to help someone out for a few hours or a whole day.
  Your gift can be an offer to shovel snow, weed a garden, run errands, clean an oven, cook a meal, wash a car, or babysit. It’s a perfect gift for busy parents, friends and family with mobility challenges, and anyone who could use a little help.

• Visit someone who’s lonely or housebound.
  An IOU for a visit to chat, watch a movie, or go for a drive can be a priceless gift.

Choose handmade over store-bought

You don’t have to be an artist or a chef to make gifts from the heart. Here are some ideas to get started:

• Family-focused calendar: You can find a template online or design your family calendar at shops like Shutterfly, Etsy, or Michael’s. Mix and match pics from today and way back when. Include birthdays and other special dates.

• Alternate options: Create a booklet of favorite family recipes or give a framed photo of the whole gang or a special moment.

• Personal favorites: Share a few items that made your year better packaged neatly in a vintage box. Include things like a book you enjoy, a small box of tea, unique snacks, a handwritten recipe card, and a photo or keepsake that you’re ready to pass along.

• Scarves, blankets, and those adorable felted animals: If you knit, sew, or crochet, you can create customized gifts for everyone on your list.

• Plants: Take a snip from one of your houseplants and root it in a decorative container.

• Sweet treats: Homemade cookies or candy in decorative packaging is a holiday classic. Include the recipe so they can try it themselves. It’s also a heads-up for anyone with food allergies. Ted Lasso fan on your list? Give them “biscuits with the boss” with this recipe.

A few more money-saving tips for the holidays

• Send e-cards as a cheaper, faster alternative to the printed version.
• Buy a smaller tree and elevate it on a tall table.
• Save ribbons, bows, and paper gift bags year-to-year.
• Light that pretty pillar candle just long enough to make room for a votive. Voila! Now it’s a forever candle.