We are into week 45 of our Money Save Ways tips and I hope that you have found these tips very helpful in turning around your finances for this past 10 months. If you have been following along for the 52 Week Money Challenge, this week you will be depositing $45 into your savings or $12 if you are doing the challenge in reverse. This week, I thought it was fitting to talk about how a gift closet can help you since we will be kicking off the holiday shopping season very soon.
52 Money Save Ways: Week 45:Make a Gift Closet
First, let’s talk a little bit about what a gift closet is. It does not have to take up an tire closet, but a gift closet is simple a place in your home that you keep generic type gifts for people of all ages and genders for those birthday party invites, last minute Christmas party invites and just generally any time you might need a gift but don’t have the money or time to go out and get one. You can simply reach into your gift closet, pull something out that is fitting for the occasion, wrap it and be on your way. It save you money because the idea is, you buy these items when you find them on their lowest price throughout the year to keep your gift closet stocked.
Here are some tips for adding to and starting your gift closet:
Be on the lookout on big sales days like Black Friday. The idea is to not go out specifically looking for items for specific occasions or people, but to get items that are at amazing prices that could really be a gift for just about anyone. Did you find a toddler toy at an amazing discount? Buy it for your gift closet!
Don’t go overboard. It is easy to get too many items in your gift closet, especially if you are a very frugal person. If you already have a couple gifts for women in there, it doesn’t make much sense to keep buying for that area in your closet until you give some away.
Go through your gift closet every couple of months and clear out items that are no longer relevant. For instance, gift sets that may be collecting dust or lotions that are over a year old may want to go. Don’t waste these items! Donate them to a local shelter or another charity that might use them.
Keep it contained. Buy a container (like one of those plastic tubs with the lids) to keep everything in one place.
Overall, make sure you are specifically hunting down items to add to it or you may end up having too much on hand. Just think of your gift closet as an extra for when you find those screaming deals you just can’t pass up.
Did you miss previous week’s tips? Click on the links below!
- Week 44:Stop Paying for Shipping
- Week 43: Apply for Help
- Week 42:Repair before replacing
- Week 41: Make Substitutions
- Week 40: Gas Rewards Programs
- Week 39: Freezer Cooking
- Week 38: Re-use Everything
- Week 37: A Sale Does Not Equal a Need
- Week 36: Eat out the Smart Way
- Week 35: Carefully Shop the Dollar Store
- Week 34: Take a Second Look
- Week 33: Use Less
- Week 32: Get Amazon Prime
- Week 31: Consider Renting
- Week 30: Skip Disposable
- Week 29: Reduce Your Meat Budget
- Week 28: Borrow Everything
- Week 27: Store Food Properly
- Week 26: Cloth Diapering
- Week 25: Buy Generic Medication
- Week 24: Shop at Farmer’s Markets
- Week 23: Don’t Call in the Experts
- Week 22: Learn to Rebate
- Week 21: Seal up Those Leaks
- Week 20: Always Compare Prices
- Week 18: Use Vinegar to Clean
- Week 17: Buy the Smaller Package
- Week 16: Teach Your Kids About Money
- Week 15: Splurge When it Matters
- Week 14: Wash Your Car At Home
- Week 13: Meat Free Mondays
- Week 12: Create A Price Book
- Week 11: Avoid Fees
- Week 10: Cut Your Own Hair
- Week 9: Watch Your Electricity
- Week 8: Turn off The TV
- Week 7: Drink More Water
- Week 6: Maintain Your Car
- Week 5: Reap the Rewards
- Week 4: Practice the Waiting Game
- Week 3: Buy Seasonings in Bulk
- Week 2: Buy Your Clothes Used
- Week 1: Make Lists
- 52 Week Money Challenge
- 52 Week Tracker
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