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Ten $1 Holiday Gift Ideas

Ten $1 Holiday Gift Ideas

Stumped on what to buy for someone on your holiday shopping list? Don’t feel you’re getting much value and budget options from retailers? The holidays don’t have to be all about who can spend or give the most. This year, my partner and I decided to change the way we did our holiday gift shopping. Instead of buying a few gifts and trying to somewhat match each other on total spend, we came up with a more transparent way to do things. We each agreed to a maximum $10 spending budget where all the items had to be purchased from a bargain shop. Why? Although we like getting gifts, we felt spending a non-trivial sum of money led to not only a potential waste if the recipient didn’t like or use the gift. It also created some pressure on finding ‘the perfect’ gift rather than a gift where the purpose was much simpler: to provide functional use and enjoyment, be it for minutes or years. Here is a list of 10 gift ideas which most bargain shops should sell for under $1.

1. Advent calendar

What better way to count down the December days then an advent calendar containing tasty little chocolates?

2. Mobile device accessories 

One can never have too many mobile device charger cables, $1 snags another one.

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3. Selfie stick

If you haven’t spent more than $10 already for one, you can get one for $1 now (Android and Apple compatible).

4. Neck pillow

Great for long-haul flights where you need something better than a thin airline pillow. A well-appreciated gift to add to anyone’s travel accessories.

5. Sunglasses 

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You can never have too many sunglasses. Gone are the days of needing to spend $20+ for a pair of decent shades. You can easily get a pair of UV protecting sunny specs for $1 and they come in dozens of styles. What’s not to love about that?

6. Foot care set

Peppermint lotion plus a few other foot care accessories all for the low price of $1. You’ll most likely buy at least one pampering set each year for someone and they will be 90% likely to pass it on to someone else and not use it anyway so why not save $20 and buy something for $1 instead?

7. Necklaces & earrings

Jewelry gifts are hit and miss. It’s easier for you or your partner to stomach a miss when it costs you $1 for a necklace or a pair of earrings rather than buying something unwanted that costs a lot more.

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8. Travel board games

Find travel-sized board games that are similar to all-time hits. Most end up keeping board games for eternity so someone in your family is guaranteed to use it at some point!

9. Socks and gloves

You don’t need designer labels to keep your hands and feet toasty in the winter. Anyone living in a cold climate will appreciate these goods as most socks and gloves seem to have minds of their own and randomly go missing. Show respect for sensibility and save yourself on sock or glove purchases by limiting your budget to $1 for these items.

10. Toys

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Don’t pay more for plastic then you can get away with. Believe it or not, $1 goes pretty far in getting a cool toy or toy set if you can figure out the types of things your gift recipient is into. I recommend something like a sheriff kit complete with badge, suction bullets, handcuffs and more (sure to please the little law enforcer in all of us).

Buying many lower cost gifts allows you to spread out your cash and get a variety of different items rather than just a handful. Also, gift receivers will appreciate opening more gifts. It’s always fun unwrapping another holiday surprise!

Happy bargain shopping all! If you’ve got any other great bargain ideas for $1 please share!

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Areion Azimi

Product Director at Sweet Startup

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Published on January 8, 2021

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

1. Pay More Than the Minimum Credit Card Payments

Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

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You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

2. Start With High-Interest Credit Card Debt

If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

3. Revisit Your Budget

Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

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Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

4. Avoid Using Your Credit Cards

Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

5. Start a Side Hustle to Boost Your Income

You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

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Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

6. Sell Your Used Items for Extra Cash

Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

7. Know When to Seek Help With Your Debt

Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

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There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

In extreme cases, the debt solution can be:

  • Debt relief – where your debt is partially or wholly forgiven
  • Debt consolidation – taking out one loan to repay others
  • Debt settlement – the creditor forgives a significant portion of your debt
  • Bankruptcy – legal process for seeking relief from some or all your debts

It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

Wrapping It Up

Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

More Tips on How to Pay Off Debt

Featured photo credit: rupixen.com via unsplash.com

Reference

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