Have you heard the term gift closet?
If you haven’t heard that term before let me give you a little insight. A gift closet is an area in your home where you keep gifts. These can be gifts for birthdays, Christmas, Valentine’s Day, weddings, baby showers or any other occasion you can think of. The goal is to have a fully stocked gift closet, so you that you never have to pay full price for a gift.
Having a gift closet will help you reduce your spending and will give you a stress free way to shop when a special occasion comes up.
So how do you start a gift closet? This is actually easier than you might think. Keep reading and you will be well on your way to having your own gift closet.
How to Start a Gift Closet
Set a Budget
Every month put away a certain amount of money towards shopping for your gift closet. This doesn’t need to be a large amount of money since the point is to find items on sale or clearance. Keep this money with you at all times! You will want to make sure that you have this money handy should you come across a great deal.
What to Buy
This part is completely up to you! What I personally like to do is make a list of all the birthdays, holidays and occasions I need presents for throughout the year. As I find gifts I check these people off my list. I also like to stock up on additional items for last-minute birthdays my kids are invited to, a co-workers birthday or a dinner party we might get invited to.
Where to Shop
Once again this part is completely up to you. Personally, I like to check out the clearance racks no matter what store I’m at. You would be amazed at the wonderful stuff that gets put on the clearance rack. You can find designer clothes, toys, electronics, perfume and so much more!
Yes, you can even add gift cards to your gift closet! I typically only add gift cards to my gift closet when I find a deal on gift cards. Grocery stores, CVS and other stores will often run promotions on gift cards. Watch store circulars for gift card promotions and purchase a few when a promotion is offered.
How to Stay Organized
Shopping for your gift closet is the easy part, staying organized is not as easy. There are several ways you can keep your gift closet organized depending on how detailed you want to get. You can keep a running list of all the items you have purchased, what occasion they would be good for and if you know someone who would love the gift. You can also create a spreadsheet to help keep you organized.
Find a method that works for you. The most important thing is you know what you have on hand. There is no reason to buy items you already have.