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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

Cheap Holidays? 4 Ways to Save Money on Holiday Gifts

Written By: Carol Roth | Comments Off on Cheap Holidays? 4 Ways to Save Money on Holiday Gifts

Tis the season…to spend money.  Client gifts, employee gifts and service provider gifts can add up to a financial burden for you.  Here are some ideas for you to get less with more on your gifts this season.

Give a Gift Instead of Cash: While this may not seem obvious, hot products and services can be perceived as more valuable than a cash bonus.  You may get more bang for your buck giving a $249 iPod than a $300 cash bonus (and you save $51 per item).  There are also opportunities to make deals if you are buying a number of them.  If you want to give a gift certificate for a spa day to your key clients or employees, the spa may give you a discount for buying “in bulk”.

Make a Donation: Instead of sending client gifts, think about making a donation in their name to their (or your) favorite charity.  Many charities will even send cards noting this donation.  You do not have to disclose the amount and you get to help a great cause. Plus, depending on the charity, you may be able to take a write-off on your taxes.  A win-win-win situation for all!

Have a Holiday Lunch or Party: Depending on your usual budget for gifts, you may be better off having a holiday party in the office or taking your clients to lunch.  This allows you to create a fun and interactive holiday experience that may save you real cash.

Wait Until January: Almost everyone buys and sends gifts during the holidays.  However, if you wait until January, you can receive double benefits.  First, you can take advantage of the after-Christmas sales. And, you can stand out from the crowd.  Include a note that says something along the lines of, “Happy New Year.  We wanted to wish you a fantastic and successful 2012”.


Do you have tips for saving on holiday gifts?  Share below.

Article written by
Carol Roth is a national media personality, ‘recovering’ investment banker, investor, speaker and author of the New York Times bestselling book, The Entrepreneur Equation. She is a judge on the Mark Burnett (Shark Tank, The Voice, Survivor, The Apprentice) produced technology competition series, America's Greatest Makers, airing on TBS and Host of Microsoft's Office Small Business Academy show. Previously, Carol was the host and co-producer of The Noon Show, a current events talk show on WGN Radio, one of the top stations in the country, and a contributor to CNBC, as well as a frequent guest on Fox News, CNN, Fox Business and other stations. Carol's multimedia commentary covers business and the economy, current events, politics and pop culture topics. Carol has helped her clients complete more than $2 billion in capital raising and M&A transactions. She is a Top 100 Small Business Influencer (2011-2015) and has her own action figure. Twitter: @CarolJSRoth