How Much Money Can You Spend in a Year on Gifts for Your Loved Ones?

Gifting is an emotion where people often don’t think about the budget. But if you are sending surprises frequently, you may exceed your expenses unknowingly. This is especially the case if you lately felt you have been overspending on gifts. So, how do you manage your yearly gift budget? What are the things to factor in and keep in mind? Let’s quickly scroll through a guide that helps you invest carefully and not splurge and turn empty-handed.

Invest in Good Relations 

Giving something as a gift is equal to giving happiness and it a long term investment that can generate intangible returns. Gifting is  actually a communication that touches the heart and stay there for a long time. People spend a lot on gifts, especially when it’s a holiday season or a special occasion. But is it wise to send expensive presents to everyone you know? The straightforward answer is NO. You should only be splurging extravagantly for secure relations. Think to yourself:

  1. Will you get any return on this investment?
  2. Is it worth it?
  3. Is the person going to give you time and care, regardless of the gift exchanges?

If the answer is yes, then it is worth every penny. But if your heart says no, then stop and maybe pick a low-key present. But, how much to spend on the gifts in a year depends upon your age, income level, position and other factors. The best way to decide and limit the expenses on gift is to spend as per the requirement. Spending on gift is to build, maintain and grow personal and professional relationships and thus it is never a waste, but actually an investment.

Popular Gifts for Your Dear Ones

Now that you know who is worth spending money on, choose the right gifts so it feels all worth it. Here is a quick list of what you can send them on special occasions:

  1. Fresh flower bouquets, curated with their favorite blooms
  2. Gourmet chocolates that instantly melt in the mouth
  3. Teddy bears for those who love having a hug partner
  4. Indoor plants for nature lovers
  5. Traditional sweets for the old souls

Why Perishable and Consumable Items as a Gift?

What is the logic behind sending perishable items like flowers, chocolates and cakes as a gift? Though short-lived, they covey the emotions and feelings powerfully and stays in memory for a long time. Being naturally beautiful, aromatic and tempting, these gifts are able to move the hearts and make an impression. They also symbolize the celebration, beauty, togetherness, connection, empathy and love beyond the price, while expressing that life is too short for worries. One might also wonder if sending gifts with a limited shelf life is a wise choice. Know that it is only a problem if you don’t order from the right place. Through reliable online flower shops sending cakes, chocolates, and Indian sweets is safe as they ensure that every order reaches the customers fresh and safe.

How Much You Can Spend a Month?

Monthly spending depends on several factors, such as:

  1. Income
  2. Savings
  3. Fixed expenses

Gifts are something you purchase when you have disposable income during the month. So, here is what you can do to make sure you don’t go over your budget:

  1. Cut down the fixed expenses from your income
  2. Keep up to 70% aside for monthly variable expenses and save 20%
  3. Use 10% for the gifts

Useful Tip: Even if you are not buying gifts in a particular month, keep the amount aside so your yearly budget increases.

Best Time and Occasions to Send Gifts

While some people send gifts without a reason and purely out of thought, others like to wait for the right time for such gestures. If you belong to the second category, here’s when a gift will matter:

  1. Birthdays and anniversaries
  2. Graduations and milestones
  3. Valentines and Proposal Nights
  4. Mother’s Day and Father’s Day
  5. Festivals

What About Spending Money for Gifts to Friends and Distant Relations

Sometimes, not just your family members but also close friends and distant relatives hold immense value in your life. Sending them gifts feels good and is a way of conveying your emotions from a distance. So, if you ask whether spending on costly gifts to such relatives is beneficial? Yes, you will receive unconditional love and care in return. Spend where there’s value and a feel-good emotion. Budget rationally, spend wisely!