Holiday Gift Giving on a Budget

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The holidays can be wonderful, exciting, and expensive. And anyone who has ever tried to give gifts on a budget knows, it can be next to impossible to not go over at least a little bit. But that’s where we come in.

Dime Community Bank is here to help you make the most of your holiday budget. Here are some easy steps to take to make the most of your money while still making everyone on your budget feel special and loved.


  1. Start with a list. Beyond your immediate family members, who else do you want to buy gifts for? Anyone at work or school? Neighbors and friends? Grandparents, cousins, and other extended family members? Think of anyone that you might want to include and put their name on the list.Then start weeding it down. Who have you lost touch with? Who said they didn’t really want anything this year? This list will help keep you organized and on budget.
  2. Create a spending limit. Whether you do this on your own — no more than $20 per person; or $50 for immediate family, $20 for extended family and friends, $10 for coworkers — or you set limits with your family and friends, create a spending limit and STICK TO IT.The numbers in this section are just examples — find the amount that works best for you and your budget and go with that. If it helps, take the specified amount out in cash and put it in separate envelopes with each person’s name on it. Now that’s all you get to spend on that person.
  3. Set up Secret Santa, White Elephant, or other gift-giving games. This is a great idea for groups of friends, coworkers, or even adult family members. You only have to buy one gift or gifts for one person and there’s usually a spending limit set from the beginning to help keep you on budget.Not only is it budget-friendly, but you get the added fun of a mystery gift-giver.
  4. Get crafty with your bad self. No one ever said that gifts had to be purchased in a store. Ornaments, hand-knit blankets, and desserts are always loved and make great presents.This is a great option if your budget is really tight, or for people who are especially picky and hard to shop for. Come on, who doesn’t love fudge?
  5. Buy higher-priced gifts as a group. There always seems to be at least one person in every family who has expensive taste.Instead of taking out a loan to pay for their gift, get a group of people together to chip in and make the gift more affordable for everyone.


Just because it’s easy to get carried away during the holidays doesn’t mean your budget has to suffer. Try these helpful tips to stay on track and keep the holidays under control. Happy holidays from everyone at Dime Community Bank!

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