How Much Should You Spend on Gifts? (Photo courtesy of Mrskyce)

Gift giving can be challenging. Besides picking the perfect gift, it’s important to know how much to spend on the gift. Many factors go into determining a good amount for your gift giving budget. Here are some guidelines to help you know how much to spend on a gift.

Determine the Average

Depending on where you live, the social norm for gift spending can vary greatly. In bigger cities the average wedding gift can cost around $100, while it may be perfectly acceptable in smaller cities to spend around $50. Knowing what the typical gift in your area costs will help you know how much to spend.

Follow the Pros’ Advice

When it comes to weddings, The Knot is an expert source. The wedding website suggests coming up with a gift budget for the entire wedding including the engagement, shower and ceremony. Then divide your entire budget for each event, spending 20% on the engagement, 20% on the shower and 60% on the wedding gift. If you’re not invited to one of these events then reallocate your gift budget.

Think About the Relationship

You’re likely to spend more on your spouse than on your boss this Christmas. It’s important to consider your relationship with the person you are buying a gift for when determining what to spend. You may want to spend more on those that are closer to you.

Remember the Past

Is this a person you have bought a gift for in the past? Think about what you’ve spent on gifts before. This is a good indication of what you should continue to spend on similar gifts.

Consider Your Budget

Above all, it’s important to consider your budget. No matter what the event, occasion or relationship, your budget is the most important factor. Determine what amount would be comfortable for you on top of your regular expenses. Stretching yourself too much just to afford a fancy gift will simply add stress to what should be a happy situation.

Keep Prices To Yourself (Photo courtesy of Sylvar)

Sometimes you find a great gift on sale. And sometimes you spend way more on one parent than you do on the other. Whatever your reason, you don’t always want people to know what you spent on a gift. Here are five ways to keep your gift’s price hidden.

Make Sure the Price Tag is Removed

This may sound obvious, but we’ve all received gifts with price tags still attached. This tacky faux-pas is a quick way to make sure people know exactly how much your gift cost. Even if you’re getting the gift professionally wrapped, ask if  the tag was removed. And if you got the gift on sale, make sure any sticker residue left behind by a sale tag is also wiped clean.

Alert Companies that It’s a Gift

If you’re buying a gift online, make sure there is an option for giving your purchase as a gift. This will remove any mention of price from packing slips and should mean that a receipt is not included in the box. If the company you’re buying from doesn’t have this option there’s a good chance that, along with your gift, your loved one will get your receipt, too.

Buy From Obscure Sources

Your circle of friends may eat at the same restaurants and shop in the same stores. That means if you buy a gift from the places you all visit there’s a strong possibility they’ll know what you paid. Try shopping in stores that are off your beaten path. And when you find great places for purchasing gifts, keep that little secret to yourself.

Don’t Include a Gift Receipt

Gift receipts can be handy if people want to exchange or return your gift. But they can still figure out what you paid. So if you really don’t want to let anyone know what you paid, avoid including a gift receipt.

Avoid Registries

Obviously when people register for cake plates and crib sheets they know how much the items cost. So if you  want to keep your gift contribution on the down-low, don’t buy something off the registry. You’ll keep your expenditures under wraps while still hopefully getting them a great gift.