'Shark Tank' star Daymond John shares tips on how to budget for holiday gift giving

John shares his top financial tips for how to give great holiday gifts to everyone on your list this year while staying within a budget.
3:36 | 11/29/17

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Transcript for 'Shark Tank' star Daymond John shares tips on how to budget for holiday gift giving
tank" getting great holiday gift ideas on a budget. Shark's daymond John is here to help. How are you? How are you? All good. All good. Practice the power of broke. The power of broke. What is that. You know what, that was pie book about how you don't need upon to make money but you can apply it whether you're somebody buying something for somebody personal or a company buying something. It's really about thinking more about what is in it for the person and how you can make them happy instead of buying them an expensive gadget they put away and you'll be bankrupt and don't have the money for it and never use split we have some gifts on some tables here and our guests here in the audience will help us out. First of all, Meghan, open your gift. What do you have? What do you have? All right. That's a fishing lure. Now let me explain why. I get everything in the world but I'm passionate about firing. If you know something, what they're passionate about, I wouldn't buy this for myself but somebody sent me a fishing lure under $7, I use it all the time and every time I catch a fish, I think about them and smile and when I don't cash a fish I think about them and curse them out. You know that they know. They know you. And they cared about me. That's something. All right. Thank you, Meghan. Nice modeling there. Nice. Gina. Gina, what do you have? What's in your gift box, Gina? Let's see. Okay. Oh, wow. Oh. All right. Ah! Now, photos. What else, what else. Keep bringing it. There you go. In the day of a digital age we have everything on our phones and never get to it. If you write people lers and gratitude, maybe go on their Instagram and pull out something you know they're passionate about, the time they were together and you print it out. It'll stay on their desk or in their home forever and won't be on a phone hidden. That's why I showed you a picture of Barbara and I was kissing her after I beat her in a deal and I sent that to her. He did send that to her. You know, convenience is a wonderful thing to get a text message or e-mail but when you go to the mailbox and you get something that somebody opened up that they actually took the time to write. You see it all the time and put it in a photo album. In their kitchen. Okay. Tammy, where is Tammy. Tammy. All right. Drum roll for Tammy. Let's go. Okay. All right. Now, chargers. Phone chargers. Right? Phone chargers. All right. Now, all ready to go. You're a company and corporation and want to buy something for another company or somebody else, but why don't you give something they can use every single day and put your logo on it or theirs and they'll always think about you. Telling me to go. We got to get one more in. Alex, is it? Max. Max, max, max. What do you got, max? What's that. Money. Now, this is not about a lot of money. I have everything I need in life but if you donate $10 to pa pet foundation or somebody else you're passionate about, you know I'm thinking about you and care about what you care about, $10 or $20. Are you going to fill out the check. Got it. Very nice. You know, my momma always said if you can't afford to give something she said, I would ask what can I go I have you, momma. She said make me a new memory. Make me a new memory. Just a time together. I know, I love you, momma. All right.

This transcript has been automatically generated and may not be 100% accurate.

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