Of course loved ones won’t stop loving us. But it can sure feel that way when we don’t have anything we feel is special enough to give them for Christmas.

But what choice have we other than MasterCard/Visa if we’re broke? Here are a few fun ideas that can preserve your budget and be gobs of fun on top of it.

White Elephant

So what is a white elephant gift exchange? The host can set guidelines for the gifts, or the participants can come to a consensus. Each guest brings a wrapped gift. Draw straws to see who goes first. The first player selects a gifts from the pile of gifts. The next person can ether select a gift from the pile or “steal” a gift from someone else.

This continues until the last remaining gift in the pile has been selected.

White elephant auctions are another variation that is often done at many family reunions. Our family reunion uses them as a fundraiser for future reunions. There is no trading gifts in a white elephant auction. The top bidder wins the gift, the end. The gift could be a very nice family heirloom, or it could be a gag gift. This is why some families will still “steal”

It all depends. But using the auction as a fundraiser is a good cause, and people don’t have to spend money if they choose not to participate in a particular auction.

Secret Santa

Another favorite is the secret Santa. In a close-knit group of friends, all the friends’ names can be put in a hat, and drawings take place. You are the secret Santa to whoever’s name you draw.

My oldest daughter and her high school classmates still do a Secret Santa gift exchange 10 years after graduating high school. I’d say that they’re doing it right!

Like the white elephant gift exchange, participants agree on a limit for the dollar value of any gift.

Other Ideas

There are countless other ideas, but the above two are the ones that I remember most growing up. Share in the comments below holiday ideas that your family has.

Have fun with it!

The perceived drawback for some are truly personal. People may feel cheap for suggesting ideas like doing white elephant gift exchange or secret Santa. But if you have fun! These things often become a tradition.

My oldest daughter has been doing secret Santa with a group of friends since high school graduation. And she’s now 27!

All four of my daughters are starting a white elephant gift exchange. During my childhood, I remember the secret Santa gift exchange among all my cousins. There were ten of us! This is a classic example of creating memories that last a lifetime.

So talk to your friends and family and suggest a secret Santa or white elephant exchange.

As Always…

Thanks for reading! I hope this information provides food for thought. Remember that I am not a certified financial planner, a certified public accountant, a licensed real estate agent, etc. My content is for educational purposes. I am a math educator who happens to have a finance degree. Like they say, never take financial advice from a math teacher! (Do they really say that?)

But you should spend less than you earn, invest the difference, and stay out of debt!

I would so appreciate your sharing my content with anyone you feel could benefit. And if you would like a free exploratory conversation or just want to shoot the breeze about personal finances, call me and leave a message or send a text to 570-731-0425.