Each week across the ACM network Ali and Gaby Rosenberg offer quick tips for big wins in understanding your money. The sisters are co-founders of the Blossom micro-investing app.
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![How to buy the perfect gift? Three things to ask yourself How to buy the perfect gift? Three things to ask yourself](/images/transform/v1/crop/frm/vuJmMAkyxKfBpiJqjiHTXS/ea60be7a-bb92-4230-9ca6-9b605779eef0.jpg/r0_0_1600_900_w1200_h678_fmax.jpg)
We may not all celebrate Christmas, but everyone knows the heavy expectation of buying the perfect gift for someone you love, one that shows just how much you care - except you have no idea what that gift should be.
The dread of turning up empty handed can send you spiralling and panic-buying a $150 scented candle.
While it's tempting to throw money at the problem - as in, the more I spend, the more I care - dipping into your savings or taking a big financial hit for a gift is no guarantee.
The Journal of Experimental Psychology found that price has no connection to how much someone loves a gift. So, if going nuclear with your budget isn't the answer, what is?
What do we have in common?
While all the gift-buying stress might have you wondering if you know anything about your loved one at all, psychology Professor Elizabeth Dunn says a good place to start is thinking about something you have in common with your recipient.
Choose a gift related to that - one that you would like too. "People are better at choosing something for themselves," she says, "so if you have something in common with somebody ... something you like will more likely be something they like."
Play the long game
Reindeer pyjamas may be a big hit on the day, but the perfect gift keeps giving long after the holidays are over.
People place higher value on gifts they use often, so things like a watch, earphones, a phone cover, Bluetooth speakers, gym bag, a nice moisturiser, a hat or some sunnies may have more mileage than you'd expect. You may not get the big instant reaction, but they'll love you a little bit every day.
Experiences, not things
Research has shown that by far it's experiences, not material items, that improve our happiness and quality of life.
When you're buying, think about what they already enjoy doing: cooking classes, a hiking tour, a virtual reality experience or day out on a boat. Driving lessons for him and spa days for her are classics here.
If you're off to shop, good luck! And remember, while a new electric toothbrush can certainly say a lot - if you really love someone, don't forget to tell them.
READ MORE:
- Sisters Ali & Gaby Rosenberg are the co-founders of Blossom App.
- Nothing in this article should be construed as being personal financial advice. It is general in nature only and has not taken into account your particular circumstances, objectives, financial situation or needs. You should consider whether the information, strategies and investments are appropriate and suitable for you or seek personal advice from a licensed financial planner before making an investment decision. Past performance does not indicate future performance. BlossomApp Pty Ltd (ABN 74 644 216 151) is a C.A.R. (No. 001284228) of Gleneagle Asset Management Ltd (AFSL 226199).
- ACM co-owner Alex Waislitz has a stake in a company that provides services to Blossom. ACM is the publisher of this masthead.