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Stay Up & Save: Gift giving

From Secret Santas to Yankee Swaps, there are a few ways to save on gifts this holiday season.

For weeks, we’ve been compiling actual, real deals and bargains for Black Friday and Cyber Monday.

RELATED: LIST: The best Black Friday deals of the season

However, this article and attached video above it are more about the philosophical side of saving money during the holidays - specifically gift giving. 

Just remember, if you spend $800 on a new TV, even though you may be saved a couple of hundred bucks off the normal price, you still spent $800. That money isn’t coming back.

Let’s make sure we’re only dropping coin on things we are prepared to, and we’re not going into debt this holiday season

Saving Tips

Below are a couple of tips I’ve been reading about, which may be controversial for some of your families:

  • If you’ve got a huge extended family, and you typically buy gifts for all the nephews and nieces, this year everyone should just pick a single name out of the hat and buy for that person.
  • You could host a Yankee Swap with a specific price limit. Everyone brings a $20 gift and they’re all thrown under the tree.
  • Secret Santa is a fantastic way to go around the office if you’re close enough with the co-workers that you feel compelled to give.

Finally, we mentioned a book during this Stay Up and Save segment. It’s a about saving money and getting out of debt and it has several pages dedicated to Christmas and holiday giving and shopping.

Many of you have probably heard of it, but if not, you should pick it up. It’s called “The Total Money Makeover” by Dave Ramsey.

It’ll do you some good as you do your late-night reading before bed. That’s some real Stay up and Saving right there.