Stretch Your Dollar: Create your gift closet now to save some cash later on

Stretch Your Dollar

If you’ve ever had to run out to buy a last minute gift, you may be spending more money than you have to. Here’s some tips on how to stock up ahead of time to save some cash.

From teacher appreciation gifts to presents for a party, we’ve all rushed out last minute to grab something to give. But the couponing site Southern Savers says creating a gift closet will stop that and start saving you money.

Here’s how it works, think about the occasions in which you typically need gifts then stock up during sales or a clearance. For instance, thank you presents for teachers.

If there’s a deal on gift cards, coffee or other small items, think about buying them and setting them aside for the end of the year.

Do the same for birthday parties when you find a toy on sale and think it could make a great present, go ahead and get it.

Southern Savers says January is a great time to find deals on toys. You can also stock up on gifts for graduation, housewarming, baby showers and presents for your own children.

The website says buying now will help you save later while some may be against the idea of re-gifting. Well, that can help save money, too. If you get a gift that’s not your taste, put a sticky note on it with the name of the person who gave it to you so you won’t forget. Never re-gift in the same circle of friends to avoid hurting someone’s feelings.

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