What % of Gross Income should be allocated to Christmas gifts to others outside your household?

MsAdviseALot: What % of Gross Income should be allocated to Christmas gifts to others outside your household?
I’m single, with a low income, and have my children and grand children to buy christmas gifts for. Does anyone do a % basis for gift giving? Should ALL family members spend the same % of gross income, or should the gross income be divided by # of family members being supported then multiply the % on that basis? Or do you just say spend a specific dollar amount and forget the math?

Answers and Views:

Answer by mejaki
I don’t think you need to devote a specific portion of your income to gifts; just decide how much you can afford to spend on an individual basis, and don’t go over that amount.

Answer by PokerChic
Spend what you can afford. You might want to consider making cookies for the families since you don’t have a lot of money. Nobody hates cookies. Small additional gifts for the grandkids, perhaps.

You need to get your children used to the fact that you do not have vast amounts of wealth for this.

Screw the dollar amount and the %. The point is to show people you care. That does not have a dollar amount on it.

Answer by Ruthie
thinking in % of gross income is putting WAY too much thought into the commercialism of the holiday. This is about love and being around the family during a magical time of the year, not about how much (or little) you spent on their gift. Get what you can afford screw percents and even specific dollar amounts. If you can only afford a few things from the dollar store fine, if you can afford something a little more hunt for bargains, look for coupons. And don’t underestimate the power of homemade gifts, those are the ones made truly from the heart and are usually cherished far more throughout the years than a couple of movies or CD’s.