According to Adobe Experience Cloud’s 2021 Holiday Shopping Trends and Insights, this holiday season has the potential to see more than $200B in consumer spending. While it’s likely that college students only represent a sliver of this pie, no one wants to be a stingy gift giver. And it’s tough buying gifts as a college student on a budget during the holidays.
In these situations, it pays to get creative. Here are some of the best ways to give thoughtful, meaningful gifts this holiday season without breaking the bank.
1. Organize a Secret Santa exchange
If you have a core group of friends, set up a Secret Santa exchange to save money on holiday gifts. Instead of buying presents for each person, you’ll only have to purchase one gift. Plus, it’s easier to find something thoughtful for one person than it is for several people.
Use a site like DrawNames to set up the Secret Santa and decide how much everyone should spend. Be conscious of other people’s budgets and restrictions. Remember that the holidays are already a stressful time, and making your friends spend more than they’re comfortable with is just going to dampen the mood.
2. Set a budget-friendly price limit
Whether you do a Secret Santa or a traditional gift exchange, consider setting a firm price limit on gifts. It can be awkward if one person buys video games and everyone else brings homemade baked goods.
If you want to keep the process fair, have everyone anonymously write in how much they’re comfortable spending and use the lowest amount as your limit. That way, no one feels singled out for being a cheapskate. You can create a Google form that people can fill out and submit.
If you have a significant other you’re exchanging presents with, talk to them about what they can afford. These conversations can be uncomfortable, but not as uncomfortable as discovering that your boyfriend spent $100 and you spent $25.
3. Exchange gifts with friends after the holidays
Because the holidays occur during winter break, it seems obvious to exchange gifts before you leave campus. But you may save money by waiting to buy gifts over break and then giving them out when the spring semester starts.
“My college friends and I used to buy gifts during winter break and exchange when we got back to school,” said money coach and personal finance writer Zina Kumok. “It was less stressful than shopping during finals, and we were able to take advantage of the after-Christmas sales.”
Because shipping times are delayed this year due to supply chain issues, this strategy also ensures that your items will arrive by the time school starts in the spring.
4. Buy used
It may sound tacky to buy a gift from a thrift store, but it’s a guaranteed way to save money. Half Price Books is a great option for all kinds of books and media. Some Salvation Army or Goodwill stores also carry books or cute vintage clothes and accessories.
If you’re looking for jewelry, purses, or other accessories, check out consignment stores that carry gently-used items. Before you buy anything, inspect it thoroughly to ensure that there are no stains, rips, or tears.
5. Look for discounts and sales
If you’re shopping online, you can combine multiple discounts and coupons to snag the best deal. Use browser extensions like Rakuten or Capital One Shopping to get cashback on every purchase and special access to coupon codes.
Most online retailers provide a discount if you sign up for their email newsletter, usually between 10% and 15%. If you’ve already signed up for their newsletter, you can create a new email address to snag another discount.
You should also scan store ads to see if they have any special deals, like buy one get one 50% off. If you have a rewards account with a store, search your email to see if they’ve sent you a coupon recently.
6. Get creative
You don’t need to spend a lot of money to get a fun holiday gift. For example, a care package filled with moisturizing face masks, dark chocolate, and lip balm can be affordable and easy to put together.
Whether you’re buying a gift for a friend or a family member, it often pays to be a little cheesy. If you’re giving a present to a parent or grandparent, put some pictures of yourself in a collage, complete with drawings and other mementos. Plus, you can often find 50% off coupons on picture frames at arts and crafts stores.
If you have a digital picture of you and your friends or family, have it printed on a magnet or sticker. You could also have small photos printed at a drugstore, which you can then slide into picture frame Christmas ornaments. The frames should cost between $1 and $5 each, and the photos should cost around 50 cents to print.
7. When in doubt, give food
Food is always a reliable gift idea, especially if you’re on a budget and don’t know what the other person wants.
Make an assortment of baked goods or compile shelf-stable ingredients with recipe ideas. Then, buy a set of holiday-themed tins for about $1 each and put your baked goods into them for an inexpensive and festive package.
Even as a college student with a small budget, these ideas can help you ensure a creative and memorable holiday with family and friends.
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