Let’s get right to it. The benefit of having a gift closet is that it helps you save money for Disney. The end. Thanks for stopping by!
Just kidding. You know me. You know I talk more than that.
A gift closet was a concept I hadn’t heard of before I did the Saving to Disney course. The idea is this: when toys, crafts, games (you know, gifts) are on clearance or very good sale, you buy them. Even if you don’t need them in that moment. You then put them in your gift closest. (Or in my case, your gift giant plastic bins.) When you do need a toy, craft, game, instead of spending full price on this item, you simply go to your gift closet and voila! Gift.
How does this save money? What exactly are the benefits I spoke of in the title?
- Get the Best Price.
Toys are always marked up at the holiday season. Buying them in the “off” season ensures that you’re at least paying a fair price, not an inflated one. And if you time it right with clearance sales, you’ll pay way less than retail price.
- Stretch the Budget.
This method stretches my budget. Let’s say my Christmas budget was $100 per child. If I bought a big Lego set at retail price, that’s $69.99. 70% of one child’s gift budget right there. But by getting it at a clearance price, say $34.99, it’s only 35% of her budget, enabling me to get her some more cool gifts.
- Minimizes Impulse Spending on Non Gift Items.
Less trips to the store mean less temptations to spend money on things you don’t need or aren’t budgeted. Especially at the holidays, stores do their best to get you to impulse buy. This kiosk of nice smelling soaps right near the toddler clothes sure is tempting. Has it always been here? Who cares! I can smell like a pine tree! This little display of “Great Gifts for Guy” sure is strangely placed near the home goods. But nbd, I do need some great gifts for many guys. This is on purpose, y’all! That’s how the stores get you to spend more money. That’s how you destroy a budget. But, hope remains! If you did all your big gift shopping on the off season and during clearance sales, if you have a nice stocked gift closest, you don’t need to go that often to that many stores. You can’t be tempted to buy the things you don’t need if you’re not even there to see them!
- Enjoy the Event More.
The majority of my holiday shopping is done on December 1st. This means that while a lot of people are out braving the hordes at Target, frantically buying random gifts for the secret Santa they forgot they had, I am home, watching Mickey’s Christmas Carol, munching on gingerbread. Having all my shopping done means I can enjoy the holiday more. The same goes for Easter, and definitely birthdays. I’m not frantically trying to get things ready, they’re already waiting for me in the gift closet.
- Contribute to the Disney Fund.
Finally, if I am under budget on any one of these categories, where do you think the overage goes? The Disney Fund! Now the trick with these budget surpluses going in the Disney Fund is that they don’t really count until the end of the fiscal year. This is why the workbook part of the Saving to Disney course has been so crucial for me. It’s a lot of numbers to keep up with. Once all the gift giving holidays I’ve budgeted for are over and done with, the last one being Christmas, I can sit down with my workbook and see if I went under budget and what goes towards the Disney Fund.
We are a one income household, and the Gift Closet has changed the game for us. Not only has it saved us hundreds and hundreds of dollars, but it’s enabled us to provide amazing holidays for our children without going beyond our means. And it doesn’t stop there. I use our gift closet for teacher gifts, baby shower gifts, party favors, Secret Santa…the list goes on!
Looking to start a gift closet? Check out some tips here about shopping clearance. Already have a gift closet? You can be saving that money too! Go here to learn about how organizing and keeping track of your gift closet can save you money. Wanna see a gift closet Christmas in action? Go here!
Kristen B. is wife to the best Prince around, mama to the spunkiest little princesses, and lover of all things Disney. She started her savings journey five years ago and is now dedicated to making her family’s wishes come true one coupon at a time. She is so excited to take her love of saving to the next level and share her journey with you! Click here to catch up on Kristen’s Savings and join in on your own savings adventure!