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Your Guide to Operating a Gift Club

Your Guide to Operating a Gift Club

History has proven time and again that for anything to be successful, all it really needs is for enough people who believe in it to put in their allotted amount of effort into the struggle. The rest is up to the time factor to play its part and this applies to just about anything, including politics, personal circumstances, economics and finances, etc.

Keeping that in mind, the concept of operating a gift club to save money should always come back to the gist of the practice, which is to save as much money as possible. When enough people come together with the common cause of wanting to reduce the amount of money they spend on gifts, they can make so many things happen.

And just to clarify – we’re not talking here about gifting clubs, which are gatherings of people who want to exchange gifts within the group. What we’re talking about is the type of gift club where all the members just want to take the concerted approach to sourcing gifts affordably, but those gifts are for whomever they originally earmarked them for. So you could join a gift club with the intention of being able to afford the purchase of gifts for your own loved ones or anyone else you want to give a gift to, not necessarily to the people forming part of your gift club.

If you can’t find one to join then you could perhaps start your own, but there are a couple of guidelines to consider either way.

Organisation is key

Let’s say your plans are to be able to afford good gifts for all the people in your life by Christmas time, in which case you’re essentially looking to save some money throughout the year so that by the time the festive season comes you’ll be operating with a good budget. If you put away $100 per month towards that from January then by then you’d have a nice budget of $1,100 to work with, plus whatever interest you earn if you choose to do so via some personal savings or micro investment channel.

If there are ten of you doing the same thing together then suddenly there’s a much bigger budget to work with, albeit it’ll effectively be split equally by the time the gift-giving season arrives.

Make it an official operation

If the operation is made official in this way then there are so many possibilities to explore by way of ensuring each of you in the collective has access to much more value with which you can source unique Christmas gifts. Group savings in this way equate to bigger interest rates earned and if you explore other means through which to make the operation official, such as maybe opening up a gift shop yourselves (even if you source some of the gifts online), then you effectively own a gift shop along with all the other members in your gift club.

This means that you gain access to gifts at cost price, something which will come in handy by the time the next gift-giving season comes around.

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