We’ve all likely felt the effects of inflation this year, and for many couples, this means that there’s been a financial impact on how they approach the holiday season and gift giving. According to survey findings by Dating.com – part of the Dating Group, with a potential recession looming, those in love are tightening their belts. Some aren’t giving gifts at all, and others are putting a cap on their spending for their significant others.
This makes sense, because adding financial stress to your life is antithetical to enjoying all the lovely aspects of this time of year. “The holiday season can be a stressful time for everyone, especially couples trying to figure out what gifts are appropriate to give to one another. It is especially challenging for newer couples who have not exchanged gifts with each other before to understand the appropriate price range of a gift, or how ‘serious’ it should be,” said Maria Sullivan, Dating Expert and Vice President of Dating.com. “With increasingly turbulent economic times, any kind of gift giving feels like a big financial commitment for many people in relationships.”
Rather than blowing their budget on big-ticket items that may wind up collecting dust in a few months, 53% of couples are choosing to give experiential and sentimental gifts, such as framed pictures of their pets, or a gift they can both enjoy, like a cooking class for a culinary lover.
Whether to give a gift and how much to spend may correlate to the length of the relationship has lasted. 66% of respondents said they believe that the amount of money spent on holiday gifts should depend on how long the couple has been exclusively dating. 71% said they wouldn’t spend any money on a gift if they were with their partner for 7 months or less.
For others, no gifts is the best route to take so they can head into 2023 with as clear a financial future as possible. 43% of respondents to the survey who were in relationships agreed to not buy gifts for each other for the holidays. But that isn’t the whole picture. 62% of those who agreed to refrain from gifting have indeed bought something for their partner anyway, even if they got no gift in return. It’s truly the thought that counts, right?
“While the holiday season is the season of giving, there are a few things to remember when deciding on the right gift for your significant other. Choosing a great gift can be easier than you think, but remember not to go too small or too big, to be realistic with your gift choice, and to consider your partner’s interests as you’re gift shopping,” said Sullivan.
While not explicitly part of the survey, those who are in polyamorous relationships likely have more financial decisions to make around gift-giving, which could make opting out of gifts for two, three, four or more people a wise fiscal decision.
There are plenty of free or inexpensive gifts you can give a partner, such as a massage, or cooking a meal for them, or checking out a holiday light show. With some creativity, you can find a way to make them feel special and desired without wreaking havoc on your budget.