How to Give Great Gifts in a Bad Economy

The years of auto-pilot gift giving are now over. You know--buying gifts and not really paying attention to the price tag or genuine interests of the gift recipient. You found a decent gift, put it on your credit card, and just kept on spending what you didn't have until your gift list was complete. I remember those days all to well. When the bills rolled in during the month of January, I wanted to run and hide. What was I thinking? Yep...been there, done that. Never again!

Many of us (not all!) have all been guilty of this at one time or another. I always admired folks who would pull out their wallets and pay cash for things. Too bad I never felt that satisfaction until after I hit rock bottom and was forced to pay EVERYTHING with cash. It was tough, but I made it through--and learned a thing or two. For families who are facing this dilemma for the first time, I encourage you to see the gift in this valuable lesson. Accept the challenge to give more meaningful gifts (rather than expensive ones!) and watch the magic happen. It's a safe bet that not only will your gift giving skills improve, but the relationships that go along with them will improve as well. You can't put a price tag on that!

If you find yourself in a panic, don't fear! Before you run off to the mall, please consider the following gift giving truths:

• Gift giving is optional! When it becomes an obligation in your mind, it is no longer a gift. Think about it and re-visit your gift list. Are you giving gifts in order to avoid conflict, keep up with the Jones's, or keep the family peace? Never put the needs or expectations of others ahead of your own financial stability. There is no shame in speaking your truth and changing the rules this year. Speak up now and make no apologies. For example..."Our family is not in the position to buy gifts for extended family this year, but would love to have you over for a pizza and movie night when it fits your schedule." See how easy that was?


• Not all gifts are created equal. Be aware of what types of gifts are the most meaningful to important people on your gift list. Would your best friend prefer a sterling silver bracelet or a laid-back lunch at your favorite local cafe? Does your Grandmother really need an expensive gift set from Macy's or would she prefer an afternoon spent scrapbooking with you? If you don't know, ASK! You just might create a new tradition in the process.


• Gift giving is about them, not you! How many times have you given a gift expecting rave reviews but in return you get a luke warm response? Odds are pretty good that you have probably violated this rule. Just because you would love to receive a cashmere sweater coat does not mean everyone else wants one too. Take the time to research and find out what really makes them tick and do your best to give a gift that reflects it. A $25 gift card to Macy's is a great gift if you know that your BFF is saving up for that "must have" leather jacket she's been talking about. Just jot a note in the card that will add meaning to giving the gift card--"Your are going to look great in that new leather jacket...hope this helps you make that big purchase!"

Great gifts come in many shapes, sizes, and price tags. But never forget that the very best gifts strengthen our personal connections with one another, never to weaken them. Buying an expensive gift that misses the mark can really do some damage and change the dynamic of your relationship if not careful. Just stop, think, plan, and do your best connect while minding your budget. I promise you, you'll never loose.

What do you think? Can you relate? Please share your comments below and we can get the conversation going!