Home Eco-Nomics

Return to Article

Holiday Gifts That Keep Giving (and Saving)

Jeffrey Strain

When it comes to gifts for the holiday season, choose those that will save the recipient money.

We don't usually think about the long-term costs of gifts we give. With many people now trying to save money, make your holiday gifts more meaningful by doing so.

Many popular gifts drain money. If you buy someone an iPod, he or she will need to purchase music or videos. A video game console requires video games, of course. You do someone a double favor if you can find a gift that not only is something he or she likes but also a money-saver.

Many money-savers don't necessarily make good gifts. There aren't many people whose eyes will sparkle when they open up a pack of energy-efficient light bulbs, a programmable thermostat, rechargeable batteries or a water-conservation kit.

To make this happen, take an extra step and consider what costs or savings your loved one will incur. This is a wonderful practice because it's something you should consider for yourself when buying things. A little imagination helps. Here are a few examples:

New appliances: It's not always wise to wait until appliances die to replace them. Improving technologies make newer appliances more energy-efficient. Surprising your spouse with a new EnergyStar-rated washer, dryer or refrigerator may seem like a huge, unexpected gift, but it can also save hundreds of dollars over its lifetime.

Books, magazine subscriptions: If you know someone who loves to read, tons of personal-finance books and magazines exist to help him or her get a better handle on money. For others, cooking, home improvement and other how-to books or magazine subscriptions may be right. They explain ways to do it yourself and save money in the process.

Tool set: A basic tool set can be a wonderful gift, especially if accompanied with a basic do-it-yourself home-repair guide. The next time something minor needs to be fixed around the house, your loved one or friend will have the means and directions on how to do it.

Garden: If you know someone who has a yard that needs some work, plant a vegetable garden or a favorite fruit tree for them. That will help reduce the costs of buying fresh fruit and vegetables. Another great gift is to landscape their yard with only native plants, which can eliminate the need (and cost) for watering.

Netflix subscription: If someone on your list ialways craves entertainment, a subscription to Netflix for a year can be a perfect gift. The recipient can watch his or her favorite movies year-round and will probably be less likely to spend money in other ways, too.

Memberships: A number of useful memberships are out there. For example, a membership to a Costco warehouse club can save a lot of money on bulk items, a membership to the AAA auto club includes roadside service and a lot of travel-related discounts, and a membership to a local gym can get the person to exercise and lead a healthier life.

Scan Gauge: If someone on your gift list loves gadgets, give something that also saves money. For example, Scan Gauge is a gadget you install in your car that gives information about gas consumption in real time, encouraging better driving habits.

Food saver: For those who often find themselves throwing out food because it goes bad before it gets eaten, a food saver makes a great gift. These vacuum-pack foods so they last a lot longer and are an excellent way to allow for cooking in bulk, which saves money. The extra food can be stored and frozen for a later date, greatly reducing the time needed to cook as well as the cost of making meals.

Coffee maker and thermos: Have friends or family members who make a stop by the local Starbucks every morning on their way to work? A quality coffee maker with a thermos may be the perfect gift for them. Not only can they have a fresh cup of hot coffee waiting for them when they get up in the morning, they also can take a thermos-full to work.