Tuesday, November 23, 2010

How to Give Richly and Keep Your Budget In Track

At the end of the year we have the traditions of giving gift. Here are 3 ways to smart gifting that give back from Personal Money #76.

1) Plan wisely
Make a list of your gift's recipients. You might want to consider giving to people who provided good service to you the entire year. Make a rough estimate of the total spent each year and decide if you want to spend less, the same or more. Second, set a ceiling budget for each person, including gift-wrapping or postal charges. For more saving, look out for periodical sales.

2) Keep to your budget
What do you do when you are given gift, but have nothing to give in return? Never rush to buy someone a gift in return, as the giver will know you never meant to give it in the first place. Instead, write a thank you note a day after. This will be more sincere. If your recipient gives you an expensive gift? Stick to what you can afford.

3) Keep credit in check
Avoid using your credit card unless you know you will be able to pay the bill in full. Credit cards are convenience tools only and cannot be treated as cash in hand.


  1. I am already planning to give gifts to people i love before this year runs out.Thanks for the advice on planning wisely,one has to do it wisely so that you wont overspend. Keep up the good work.

  2. hi ed, thanks for stopping here. Wish you a very happy holiday


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