This is a link to the eighteenth in an ongoing series billed as 30 Day Challenge to save $1,000 by Ramit Sethi at IWillTeachYouToBeRich.com, his blog on personal finance (banking, saving, budgeting, and investing) and personal entrepreneurship. His series outlines the various ways we can keep money in our pockets.
Today’s tip is to skip the expensive Christmas gifts this year — which cost the average American over $850 last year — and instead give something more meaningful this year.
Ramit wrote this post back in December so it’s not quite as timely as I write about it here today, but the principle remains true, and you can use it when considering birthday and other gifts, too. (By the way, given the economy, you might well have done this in December anyway.) What can you do instead? How about doing something for the people you love, or with them, instead of giving them some things?
For the rest of the post click here.
For previous tips: Tip #1: Pack lunches for the rest of the week, Tip #2: Turn your thermostat down 3 degrees, Tip #3: Sell something on eBay today, Tip #4: Involve your friends in your savings challenge, Tip #5: Optimize your cellphone bill, Tip #6: Use gas prices to become your own hedge fund, Tip #7: Create a “No Spending” day once a week, Tip #8: Implement the A La Carte Method, Tip #9: Only buy new things when replacing something old, Tip #10: Use the free rewards from your credit card, car insurance, and workplace, Tip #11: Never pay full retail price for clothes (or eyeglasses) again, Tip #12: How I’m saving $2,000 on eating out in 2009, Tip #13: How to negotiate your car insurance, Tip #14: Use self-persuasion to share how much you’ve saved so far, Tip #15: Forget going to a bar — ask people over for dinner, Tip #16: Cancel any large purchases this month, Tip #17: Buy generic for the stuff you don’t care about