The Perks of Having a Gift Closet
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The Perks of Having a Gift Closet

Posted on Friday, November 29th, 2013 at 8:00 am
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Create a gift closet to save time and money! With Black Friday and the holidays coming up its the perfect time to make some headway on your holiday gift shopping. There are plenty of low prices and great deals to ensure you’ll get the best price on your gifts. One important thing to keep in mind whilst shopping is filling your gift closet. Gift closets are a great way to save money year round by stocking up on presents when they go on sale and keeping them in your home for when a special occasion comes up. If you’re still unsure about starting a gift closet or don’t have one we’re here to convince you to start! Here are our best reasons for starting a gift closet:

Reasons to Have a Gift Closet

1. Money and Time Saver

Gift closets are definitely a great way to save some serious dough and time. By shopping all year, and only buying when the discounts are deep, you’ll never have to make a last-minute purchase again. Those last-minute purchases for birthdays or unexpected events can definitely add up and do damage to your gift budget. Without purchasing ahead of time you’re unable to shop around to get the best price possible for presents. Furthermore, running out to get a last-minute gift can be a huge drain on your time! Having a gift closet in your home means you can pick an affordable gift without leaving the house! Gift closets especially come in handy during the holidays. Instead of running around to stores you’ll be able to spend more time with your family and loved ones!

2. Helping Others

Gift closets are also a great source of charitable gifts! Shopping all year means you’ve accumulated quite a number of gifts at some fantastic prices which will come in handy during the holiday season. Spread the joy of the holidays by sharing your frugal finds with others and using some of your gift closet as charitable donations!

 3. Teach Your Children About Frugality and Planning

Gift closets can also be a great teaching tool for your children. Creating a gift closet requires planning ahead for special occasions, hunting around for deals, and budgeting. These are all teachable concepts that’ll be useful for children as they grow older. For example, say your child has a close-knit group of friends that they’ll need presents for sometime in the future. Have your child tag along when you go shopping. Depending on their age your child can help calculate the best deal possible in addition to having some say in what is bought.

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Good Tip: Saving money is important – especially if you have a lot of expenses like bills to pay, loans to pay off, and all the other things that drain your bank account. Figuring out a way to save money can feel tedious to some, and like a punishment to others. U.S. News suggests that you try one of these money saving challenges. The “No Eating Out for a Month” Challenge This one is self-explanatory. The goal is to avoid eating out for an entire month. This might be super easy for people who enjoy making meals at home. People who really enjoy dining out, or ordering food to be sent to their home, may struggle with this one. It’s worth a try because spending money on take-out is more expensive than buying groceries. The Pantry Challenge This one is a variation of the “No Eating Out for a Month” challenge. The goal is to use up all of your groceries before you buy more. It forces you to try and remember why you bought a food or beverage that you don’t know what to do with, and gives you the opportunity to find a way to use it. The one exemption to this challenge is the foods that have expired. Don’t eat them! Throw them in the trash. The “No Spend” Challenge Make a goal to avoid spending money during an entire weekend. The only exemption in this challenge is that you are allowed to pay bills. This challenge is interesting because it requires creativity. You must be creative and find workarounds for problems that you would typically solve by spending money. You may have a different outlook on spending after finishing this challenge.