How to Take a Minimalist Approach to Holiday Shopping

holiday shopping

The holidays are hectic—with everyone rushing to stores and advertisements being shoved in our faces, it can be difficult to maintain a minimalist approach to shopping. Everything is made to seem like the best deal or the next must-have gift. But the holidays are supposed to be about giving and togetherness. We should focus less on the price tag and more on the meaning behind the gift.

Here are four ways that you can reduce spending on holiday shopping while still finding great gifts.

Make a List, Check it Twice

If you create a list prior to shopping, you will know exactly how much you plan to spend and the limits of your budget. It’s when you deviate from this list and start buying unplanned gifts that overspending occurs. As you begin shopping, try to find deals along the way in order to cut costs from your overall budget.

Something you should consider while shopping is tracking your expenses—this way you won’t have any unforeseen expenditures. One way to track all your purchases in real-time is by using an online banking platform with instant transaction alerts. These platforms can send updates directly to your smartphone, that way you don’t need to review your expenditures retroactively.

Repurpose Gifts

While it may seem taboo to regift something, an unopened or unused gift is practically good as new if the person doesn’t know that you’re regifting. As long as you think the recipient will actually enjoy the gift, it’s better to not let it go to waste. Sometimes you can even take a gift and upgrade it into something even better with a little bit of craftiness—like turning books into wall art! Adding your own touch will help make the gift even more perfect for the recipient. 

Give the Gift of Time

Spending time with someone can be more wholesome than any physical gift you could possibly give them, especially if your gift recipient speaks the love languages of Quality Time or Acts of Service. This means you could volunteer to do different chores for the person, offer to take them on fun adventures, or just spend an evening at home playing board games and watching movies. 

You can also spend time together while giving the gift of volunteerism. Plan a day later in the year when you can volunteer together at a local shelter or charity. The holiday season is jam packed with volunteers, so be intentional about visiting during a less-staffed time of year to truly make a big impact on your local community. 

You may just find that the joy you get from helping others can outweigh any physical gift.

Shop for Supplies

One way to cut down on costs is by making the gifts yourself. Rather than spending tons of money on expensive finished products, try spending the money on supplies for do-it-yourself gifts. You can save even more money if you already have some supplies on hand. This will take some extra time on your end, but it’s worth it because the gifts will be heartfelt and unique to the person you are giving them to. 

DIY gifts can include cookie dough ingredients in a jar, paintings, polished river rocks with a word of affirmation painted on them, a printed and framed poem, or anything else your creative mind comes up with!

During the holidays, minimalism can help you save costs and reduce stress. By applying the concepts of minimalism, you can celebrate the spirit of the holidays without getting sidetracked by the message to buy more and more.

Check out this infographic from Chime that can help you focus on your holiday needs while still meeting your financial goals.

chime infographic

How Minimalism Can Help You Spend Less

Live more and spend less — that’s the simple idea. It’s no secret that today’s society places value on piling up the possessions and spending more than we need. Ultimately, this can clutter our lives and weigh us down. Minimalism encourages you to make conscious efforts to live simpler and value the things that are a part of your life. 

How it helps your wallet

Naturally, if you are spending less on material goods then your savings will definitely feel the benefits. However, it’s important to note that minimalism isn’t about restricting your budget so much that you feel trapped. It’s about spending your time, money, and energy on things that are important to you. If this means taking a vacation or getting your nails done, then invest your money in experiences that make you happy.

How to make it work 

Minimalist living can help you feel freed from the things holding you back. Start with small things and work your way up to living with less. Take inventory of the stuff you have and start decluttering, donating, or selling things you don’t need. 

For more inspiration on how to start a minimalist lifestyle, check out these 10 TED Talks on minimalism to help you spend less (from Mint.)

 minimalism-ted-talks

Minimize your budget with Gillian

Today’s post is a guest blog by Gillian at Drop that Debt!  I also wrote a post for her blog today, which you can read here.

Hey all! I’m Gillian and I blog about personal finance over at Drop that Debt. It seems that Caitlin and I both started blogging and reading each others blogs around the same time, and I’ve been hooked ever since! Her Not-so-Minimalist Bathroom post was so eerily similar to my own experiences I just had to read more. I graduated school with a college diploma and a university degree like most young people do these days– in loads of debt. After a bit over 6 years in school, I was over $60,000 in debt with no real job prospects immediately leaving school. I was lucky enough to get a job serving a month after leaving school, which is not in my field but it is enough to pay the bills and it will do for now.

I got smacked by the reality train pretty hard after graduation. I realized that no, it is not as easy to pay off student loans as I thought it would be and yes, it will take me years to pay off my loans, even if I put over $1,000 per month towards them. I had been overspending during school, coupled with not earning enough to pay my tuition and living expenses and I decided I needed to finally get real about my finances so that I could throw any and all extra money at my student loans. Over the past 6 months, I have learned a lot about personal finance, what works, and what doesn’t work so well. Here are some things you can do if you find yourself not knowing where to start with getting your finances in order:

Create a budget. This is hands down the most important thing that got me on track when I started. You need to figure out approximately how much income you earn each month. Once you figure out how much you are bringing in, you can figure out how much you can afford to spend in each area. I had a set amount for rent, car insurance, car payments, and student loan payments (minimum monthly payments the institutions require) and everything else was under my control. I started by deciding how much money I wanted to dedicate for repayment of my loans. I decided on about $1,000 / month as an ultimate goal; and it’s slowly been climbing to reach that number.

Pay off your highest interest loans first. Both of my loans have fairly small interest rates. One is about 4% and the other is 4.5%. However, if you have a big credit card debt (18% +) or something else with higher interest rates, pay that off first. Make the minimum payments (or a bit above) and throw the rest of your extra money at the highest interest loan first. Once you pay the first loan off, you can add that payment onto any other loans you have.

Don’t discount anything. Even “fixed” costs can be cut back. It can be tough but often people end up living far outside of their means. If your rent is taking too large of a chunk of your budget, you should find a new place as soon as you can that is cheaper. If your mortgage payment is too big, it’s time to seriously consider selling your house and buying one that is worth less. The same thing goes for cars. It kills me that some people are making car payments that are $600 or more per month! I didn’t have too many high fixed costs but I still cut back where I could. I got my cell phone bill down from $73/month to about $33/month. Every $40 counts and can be used towards loan repayment, savings, or somewhere else.

Think before you buy. There can be many temptations when you are cutting back on spending, especially if you aren’t used to being careful with your money. Cute clothes, new gadgets and the like can be hard to ignore. I don’t deprive myself of anything (within reason), I just make sure it’s really worth the chunk of my budget before I buy it. Many times I’ve tried on clothes, left, then decided I didn’t need them after thinking on it for a day. Occasionally, the item really was worth it and I would go back the next day and make a purchase. Taking that extra time away from the store and the immediate gratification of the purchase often gives you the clarity to see that you don’t really need the item.

Since making these changes, I have consistently brought in far more money than I have paid out. My student loan payments are always high, generally in the $700 range each month and with some work I plan on increasing that number in 2013. These methods are surefire ways to get your finances in order.

If you would like to write a guest post for Born Again Minimalist, or if you would like me to write a guest post on your blog, please contact me via the suggestion box link above, or email bornagainminimalist@gmail.com.  Thank you for reading!