Sammi Reeves

Overwhelmed mid adult man holding stack of heavy Christmas presents

It’s the most wonderful time of the year… or is it?

Don’t get me wrong, I love the holidays. I love spending time with my family, eating delicious food, and drinking festive cocktails. It’s always a special time, and I’m so thankful for the magical moments I get to share with my loved ones.

But what I don’t love is the seemingly endless stream of holiday parties, the pressure to find the perfect gift for everyone on my list, and of course, the dreaded holiday shopping crowds. Okay. I love the holiday parties most of the time, but I don’t love having to find a suitable gift to take to the gathering. It’s always so much pressure, and when it comes to gift-giving, there are a plethora of reasons why I find the overall experience less than enjoyable.

That’s why this year, I’m cutting back on gifts, and unsurprisingly, so are a lot of folk. A new survey by Oxfam has revealed that many people are also cutting back on their gift-giving this year. The survey reveals the top ten reasons why individuals are cutting back on gifts this holiday season. And while numerous potential reasons for the lack of presents being exchanged immediately come to mind, I found a few of the justifications a bit surprising.

This holiday season, you might consider joining the crown by ditching the crowds! With the influx of friends and family cutting back on gifts, it will be interesting to see how this shift affects business’ sales. But by avoiding the holiday gift-giving tradition, a few things are certain – You’ll save yourself time, money, and stress in the long run… and who knows, maybe your friends and family will appreciate it too!

With all that being said, if you are going to give a gift this year (and let’s be honest, sometimes it’s just too hard to resist!), make sure it’s something thoughtful that will be truly cherished and not just another piece of junk taking up space in someone’s home. Happy holidays!

Here are the top 10 reasons why people are cutting back on gifts this holiday season:

  • 10) Worries about interest rates on credit cards

    There’s nothing worse than spending bookoos of money on a ton of holiday gifts, charging them to your credit card, and then getting hit with those gnarly interest rates. Save yourself the trouble and heartache, and save yourself a ton of dough. And, most importantly, be smart with your shopping and your spending!

  • 9) Wanting to put more thought into gifts rather than spending lots on them

    I am totally all for this. Try maintaining the “quality over quantity” mindset as you shop for those special individuals in your lives. A “quality gift” doesn’t mean you have to spend a ton of dough on it. Just make sure your gift comes from the heart, and your loved ones will surely love it!

  • 8) Spent too much money last year

    It can be so hard to reign yourself in when it comes to gift shopping. I’m sure more than a handful of us are guilty of going a little overboard with our buying last year. But it’s never too late to try to make up for it and replenish our lost money.

  • 7) Not feeling the need to spend money to enjoy Christmas

    This is a big one for me. In the end, it’s all about spending precious moments with your loved ones, not the gifts you give or the price tags you’ve paid. The holidays are about so much more, so try not to get lost in the pressures of gift-giving.

  • 6) Not wanting to get into debt

    One of the scariest four-letter words. Debt. Don’t let yourself go into debt over the holidays. Once you find yourself in the negatives, its so hard to dig yourself out. Save yourself the hassle and stress! Once the holidays are over, you’ll be so thankful that you don’t have the debt monster looming over your head.

  • 5) Trying to be thrifty with spending

    Be savvy with your shopping! Save your money in any way you can, and if you’re really wanting to give a gift to a friend or family member, be thrifty and get creative. Use your money and resources carefully and not wastefully!

  • 4) Worries about paying gas and electricity bills

    Yeah. This one surely hits deep for many this year. Bills are stacking up, and there’s no reason to feel like you have to spend an excessive amount on gifts. When you think about it, those in your life that are truly deserving of a gift from you are the ones that would prefer you use your money where you need to… On getting out from under those never ending bills.

  • 3) Just being careful as things get more expensive

    There’s never any harm and only everything to gain by proceeding with caution as inflation continues to take over the consumer market. With prices on nearly everything rising to unaffordable rates, many are taking a step back and being smarter about how they spend. Kuddos to them!

  • 2) Not being able to afford as much this year


    It’s just an unfortunate reality of life in 2022. Higher prices. Fewer Benjamins in the bank account. Nearly everyone in society today can relate to the struggle of not being able to afford as much as we once could.

  • 1) The cost-of-living crisis


    In the end, it all comes down to the brutal cost-of-living crisis we’ve all faced this year. There’s less money to go around, and excessive gift-giving during the holiday season, for many, is just not in the books or the budget. But in the end, that’s OK! Focus on the true meaning of the holiday season, and enjoy the company of all of those you love in your life.

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