Holiday Budgeting

[fultron]

My wife and I have a difference of opinion, so I'd like to get opinions on who is right (winner gets to sleep in on saturday).

Say you budget $25 for a christmas present for a relative. then you find something that regularly costs $35, but you got it on sale for only $18.

I SAY...the value of the gift is what matters and he'll never know I got it on sale anyway, so I can just save myself the extra $7. He gets a better present than we budgeted for and we save a few bucks.

MY WIFE SAYS...since we had budgeted to spend $25, then that's what we should spend. We should use the extra $7 to buy another small present so we reach the budgeted amount.

Who do you guys think makes more sense?

[Smj29]

I think your way makes sense.

[tinapbeana]

i think folks are good at guesstimating the value of a gift, and you may look like you spent more than you should if you try to make the difference in what you actually spent.

for instance, rooms to go had a black friday sale where you buy a gift card get one free up to a $100 value. say i had bought a $100 gift card and gotten one free. i've spent $100 but gotten $200 worth of merchandise. now say i had budgeted $200 for my inlaws. i could give them the gift cards, $200 in value, or i could give them the giftcards plus another $100 gift, therefore making it 'look' like i spent $300 on them when i only spent $200.

some folks might be striving for the look like you spent more kind of holiday, in which case i'd say make up the difference. if you're buying for someone where an overly expensive gift might make them feel bad (as is the case with my inlaws, since they could not afford to reciprocate), then i would stick with the gift you got and be proud of your savings.

for what it's worth, in my family the idea os to save what you can and brag about it after the gifts are all opened

"i got that at 10% off plus another 10% with my card"
"oh yeah? well i got yours buy one get one and so i got one for susie Q too!"

[Diolla]

I thought it was the gift not the price that mattered? I don't budget individually I budget a lump amount for Christmas and try and get stuff I know people will like. If the money was the point you could just get them ALL gift cards then you would spend exactly what you budgeted.

I think you should sleep in Saturday.

[boefixepa]

My vote is just give them the one gift. The other $7 may be needed elsewhere where you can not find the right gift for the budgeted amount...you may need a few dollars more.

So I say you get to sleep in...

[markio26]

if you saved a couple of bucks... that is fine. i think.. as long as it was a nice gift... we make our own rules when it comes to spending our money for other ppl. outside the family....one gift is okay... good job!!! way to go!!!!

[poundwise]

I agree with most of the previous posters' comments. Ultimately, the answer to your question, in my view, is that the value of the gift, not the cost, is what matters. Realize the $7 as a savings or spend it on a gift for someone else. Another idea would be to use any unspent/saved, budgeted funds to make a charitable donation.

[vishenda]

People have different ways of managing expenditures for Christmas. Who cares its Christmas anyway! But still if given the right timing, why not get items on sale? I dont think it matters.

As the cliche goes " I'ts always the thought that counts". HAve a HAPPY Christmas everyone.

[Ima saver]

I agree with fultron. He gets my vote.

[MonkeyMama]

I generally look at the budget as the max I Want to spend. Anything I can get for the same dollar value (or worth more), but pay less is a score to save money. I don't follow the budget to the wire - I go under budget on a lot of things. If I find a deal and can only spend $17 - way to go!

I am with you!

Plus the upside is if you find something for someone else a few dollars over the budget for that person, you have some wiggle room. If it is the perfect gift and is $5 over budget, but you saved $7 on someone else. Then you can go for it without blowing the overall budget.

I like Poundwise's idea too - now that is the spirit of Christmas!

[beebop25blue25]

Fultron, I go with your way!! I see it the same way as if I budgeted $150.00 for my electric bill and it actually came out to be $142.00!! I would save the $8.00 difference and celebrate the money I saved!!

[Aleta]

I agree with you Fultron. It's the value of the gift, not the amount saved. It reminds me of a gift that my son gave to me. I looked at it and said, that is an expensive gift. He said, Mom I got a really great deal on this and I don't often get to give things like this and I knew that it would look so good on you. Don't try to add extra gifts. Just leave it llike it is. So you saved a few dollars, that's a plus for you. That's why we're all here.

[tinapbeana]

Originally Posted by Aleta

I looked at it and said, that is an expensive gift. He said, Mom I got a really great deal on this and I don't often get to give things like this and I knew that it would look so good on you.

real friends and family would love to hear this very thing! a true example of 'it's the thought that counts'

[fultron]

sweet! looks like I'll be catching up on som ZZZZZs this weekend!

thanks everyone for your insights...

[PRICEPLUS]

Well I hope you enjoy the rest! By the way I see it your way!

[Thrifty Ray]

I have done a little of both over the years, depending on the person, the gift, how much I saved, etc. I think in the example you gave, I would stick with the one gift. But if I budgeted $25 and found something on clearance for $9...I may be more inclined to add a favorite candy, drink or other item I know would be appreciated.

Something I enjoy doing is setting a budget~ both overall and per person...and then decide where to donate the leftover money to (or at least a portion of it). That way, everyone wins. I give gifts I feel good about, I stay within budget and I donate! It is fun to see how much I can come up with- within the budget to do all three.

In any case, its all about enjoying the season. Keep it simple, keep it fun as much as possible!!!

[Mabuisakura]

I wanna know why your wife wants to spend more money! I think you are in the right! save the extra money!