What is a gift stash or gift closet? I’ve had a couple of questions about this because I mention it quite frequently when I post online deals here on Pinching Your Pennies! It’s simple! I find great deals on awesome items now that I will use later as great gifts. It is what allows me to give crazy good gifts at discount store prices. It is easy to do and can help you save lots of money. I am going to bring back a few tips that can make this an easy thing to do.

Decide where you are keeping your gift stash or gift closet and prepare a place.
This is a huge and very important tip. It is what will make your gift stash or gift closet work well for you or drive you crazy. Whenever you purchase an item for the gift stash or gift closet put it right where it goes. Hiding things all over the house leads to lost gifts and gifts being seen by the kids and spouses ahead of time. I have some large plastic totes on a shelf in my garage. The gift items go in the totes the same day I buy them.

Keep an inventory.
I’ll admit I don’t always do this. I will also tell you that it is so much easier when I actually do keep a quick list of the items in my gift stash or gift closet. You avoid overbuying and know what you can give before you even start looking through the items in your gift stash or gift closet.

Know your gift recipient base.
Think about who you give gifts to and the situations in which you’ll be giving them. Think about relatives’ ages and likes. Think about the ages of friends and potential birthday parties. Knowing who you will be giving future gifts to will help you grab those bargains to use as great gifts later.

Know where and how to shop.
Have a favorite item to gift? Do you know when it goes on sale? Do you know where the sale and clearance departments are at your favorite stores? When you are out shopping, take a look at the clearance and sale items. Swing by the toy department and watch for clearance bargains. Don’t forget to shop online for your gifts. There are always great deals on Pinching Your Pennies that would perfect gift stash or gift closet items. When you have a really good grasp on building up your gift stash or gift closet you’ll be great at spotting items for gifting events that are months away. This is why it is important to know your recipient base like I mentioned above. It is easy once you start.

Know your budget.
Don’t spend too much trying to build a gift stash or gift closet quickly. Stick to all of the above tips and build your gift stash or gift closet slowly. Overspending and breaking your budget will defeat the purpose of building up a gift stash or gift closet.

Include giftwrap and cards.
Pretty simple tip but it can save you big. Pick up some extra wrapping paper, gift bags and cards when you see them on great deals or sales. Keep it all together with the gift stash or gift closet or in another easy to find place.

Have fun and enjoy giving the gifts.
That’s the whole point of creating a gift stash or gift closet. Enjoy giving your gifts and have fun buying them.