As we head into the holiday season this year, many people are concerned about money – from those who missed paychecks during the government shutdown to everyone impacted by tariffs and high food prices. It might feel like a lump-of-coal, but there are ways to have affordable holiday fun.
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Chicago-based business reporter Jennifer Waters joined Rob Hart on the WBBM Noon Business Hour to explain these wallet-friendly options.
“The joy is not in whatever you give or receive, it’s just hanging out and having a bunch of laughs,” said Hart of his personal favorite, the white elephant gift exchange.
Cost-saving gift exchange methods:
White elephant exchange: People exchange inexpensive, tacky gag gifts, described by Waters as “intentionally ridiculous or impractical” items
Yankee swap: People exchange inexpensive gifts that are practical or useful, popular on the Easy Coast, according to Waters
Ornament exchange: Waters’ go-to with her own friends, focused on “really cool” novelty gifts
Secret Santa: A holiday staple of workplaces and friend groups – people are assigned a person (usually by picking paper out of a Sana hat) that they buy one gift for, instead of buying gifts for multiple people
Waters said that she and her friends put a $25 limit on gift purchases for their ornament exchange. Those limits can help make holiday spending feel less daunting. Sites like Elfster and Giftster can also help people organize their exchanges.
While these gift exchanges can be fun for adults, Waters noted that its still a good idea to get children their own gifts.
Still concerned about all of those pricey holiday activities? There are also affordable holiday festivities that can make the season bright. For example, Hart and his family went out on a holiday scavenger hunt last year.
Cost-saving activity ideas:
Scavenger hunts
Getting together for a holiday donation drive
Making DIY decorations
Making holiday treats like cookies and chocolate milk
Taking a tour of the holiday decorations in your neighborhood
Ice skating (some communities have free options, such as the Millennium Park ice rink in Chicago)