Christmas brings people together and enables them to share unforgettable moments, but it can sometimes be overwhelming when thinking about gifts and spending. In order to eliminate such thoughts, I create a pre-Christmas plan that includes details about gifts and budgeting.
Before deciding how much to spend on family Christmas gifts, I follow a systematic approach:
First, I calculate my overall budget for the holiday season. I also take into account my regular expenses, bills, and additional costs.
Next, I subtract my fixed expenses from my total budget and determine how much disposable income I have for gifts and other expenses.
Lastly, I make a list of the family members I need to buy gifts for and allocate an appropriate amount for each person based on our relationship and my budget. For example, I tend to spend more on gifts for my siblings. However, sometimes I allocate a larger portion of my budget for my parents' gifts if they need something specific or want.
If you struggle with budgeting issues, break down the process into smaller steps. It will make the gifting process more smooth, and you can still purchase beautiful gifts for your loved ones.
Here is a general list of Christmas gift spending ranges that I find beneficial:
Family Member Spending Range
- Spouse/Partner $75 - $300
- Children $50 - $150 per child
- Parents $75 - $200 per parent
- Siblings $30 - $100 per sibling
- Grandparents $25 - $75 per grandparent
- Aunts/Uncles $15 - $50 per aunt/uncle
- Cousins $10 - $50 per cousin
