Thought for Thursday........

This weeks thought - Christmas shopping. Specifically, budget vs. no budget and value vs. price paid.

Last year was the first year I actually had a spending budget for the boys. I tracked everything I spent on them and stopped at a certain point - I can't remember how much it was, but not a whole lot. Our boys are blessed with so many gifts that there is no need to spend lots and shower them with toys that end up getting shoved in the closet.

Part two is what I'm really interested in knowing what your take is. Let's say your budget is $50 on your family gift exchange. Do you spend $50 on that person, or do you buy a gift or two that is valued at $50? For example, you find a sweater that is regularly priced at $50. It just happens to be on sale for $35. Do you spend another $15 or do you consider your $50 budget is met because that's how much the value of the item is?

I tend to lean towards the value versus actual amount spent but have to admit I'm not consistent in my approach.

Talk amongst yourselves and post a comment to share.

Oh - don't forget to leave a question in my 11/11 post for your chance to win a fabulous prize. As of 6:03 on Thursday, your odds of winning are pretty good!


Jaci said...

Last year was also my first year wtih a budget and we did pretty well. I try to do the value deal...but that gets away from me. So I tend to go with the price and brag that I got a good deal (it's a total Dukowitz thing).

This year though, we seriously set a tight budget and limit with EVERYONE and I'm hoping we can stick to it. We need to! Good luck, and like how much do you-slash-your bloggies spend per toddler/kid?

Sheena said...

I don't set a budget, but typically one person's present determines the rest. Like if I find something amazing for Libby- the other sisters get something for the same price.

Maybe it's just working in retail, but I go buy how much I actual paid- there's a strategy to how things are marked down and i think a lot of retailers have high mark ups so they can have sales... i feel like last year especially it was hard to find something that was at full price- so what you pay is the actual value of the product... am i even making sense?I like Jaci's comment, people are always impressed when you get good deals at how much you got within the budget!

If you do go with the values approach I highly doubt anyone will care, let alone notice, and I'm sure others do this as well- if anyone were to say anything about it there are some serious red flags...the holidays aren't about the gifts!

Good luck :)

Jill said...

I go by price paid. Shouldn't, but I do.

As for how much per kid, I try to keep it reasonable, so I don't really have an amount. Gage is getting three gifts from us--about $75 total this year--, and we are asking Santa for one gift and he usually fills the stockings with a few inexpensive treats/toys.

The babies will most likely get one gift each from Santa this year, mostly for a photo op as they truly need nothing and won't know the difference.

Santa will start bringing one small gift per boy and a "share" gift as the boys get older.

Wow. Didn't realize how much I've obviously thought about this already!!

Kim said...

I go with price paid. It's almost like I feel guilty... like, I got my sister this $50 sweater but it was only $25, so I have to get something else if I was planning on spending $50 on her. I'm weird. :) Maybe this year I'll take your approach.