Christmas is over, the presents are unwrapped and you have probably started putting the decorations back in storage. With luck, you made it through your Christmas shopping by catching some great sales and were able to stay out of debt.
If you are like most people, you found yourself looking for quite a few last-minute gifts and likely paying more than you wanted to pay. As you probably know, this problem is not limited to just the holiday season, but it can strike all year long whether it is a children's birthday party, a housewarming party, a teacher gift or anything else. This is why I am a big advocate for creating and maintaining a Gift Closet!
What is a Gift Closet?
Simply put, it is a shelf, tote bin or even a whole closet that you fill with gifts that you pick up at rock bottom prices. By having a gift closet, you greatly reduce your chances of having to head out at the last minute to buy a gift at full price!
How to Fill Your Gift Closet
Create a list: sit down and make a rough list of the people that you need to buy gifts for during the year. If you have children, include a rough estimate of the number of birthday parties that they will attend this year. Think of your lifestyle and that of your friends and family. Have a sister that just announced that she is pregnant? You are going to need baby shower gifts eventually! Is your best friend house-hunting? No reason to wait until she makes settlement to start looking for a housewarming gift!
Start looking for deals: the best deals aren't just found late November through early January! There are great sales each month and every month presents a new opportunity to save. Scoop up great post-holiday sales all year long to give as gifts before the next holiday (this is also a great way to decorate your home for any holiday on the cheap!). Start looking for clearance sales or coupons for the items that you are going to need.
Check out Daily Deal Sites: Sites like Woot and 1SaleADay have some great deals and they change all the time. Be sure to double-check prices on Amazon before you buy as well as check for any additional shipping charges that may apply to confirm that you are getting the best deal!
Social/Group Buying sites: websites like Groupon and EverSave often offer discounted gift cards to stores like The Body Shop, Gap, Starbucks and more. This is a great way to stretch your gift-buying budget whether you are giving the gift card as the gift, or just using it to buy gifts to stock your gift closet!
Other Ways to Fill Your Gift Closet
Regifting: did you get a gift you can't use (or don't like) and can't or won't ask for a receipt so that you can exchange it? Add it to your gift closet (but make sure you include a note on it indicating who gave it to you in order to avoid the embarrassing prospect of giving the gift back to the person who gave it to you...YIKES!). I know that "regifting" can be a touchy subject and something that many people aren't comfortable doing....but I would rather regift something that I just can't or won't use than have it sit collecting dust or throwing it in the trash.
Estate Sales/Thrift Shops/Consignment Shops: once again - this isn't for everyone, but you may have someone in your family that would rather have an antique vase than a new one. You can oftentimes find brand-new/never-opened items at these types of stores.
Do you have a gift closet?
Kelly P
I'm a newbie at this but I'm trying. Mostly I find it useful for generic type things like teacher gifts or hostess gifts or those surprise gifts that you weren't planning for at Christmas (candles, chocolates, notecards, random kids games etc). It helps with sanity. Thanks for the tips!
Diane Kinney
I love my gift closet! I got this idea from my mom, but she uses her attic. I have an actual closet. I stock up on neat items I find throughout the year and am ready once the holidays come. I even have cards and birthday gifts squirrelled away.