From: Kimberly
McKenna
Parents Can Reel
In Holiday
Spending
Advice on Making it Happen without
Cutting Corners
The average family will
spend $637 on gifts this holiday season. With prices on everything from gas
to eggs skyrocketing, many families are finding it necessary to reel in
their holiday spending this holiday season. Coming up with a sound plan and
the resolve to do so, however, is not an easy task. This is especially so
for parents who do not want to disappoint their little revelers.
It is possible for parents
to greatly limit their spending this holiday season without cutting corners
too much. The key to making sure children's wishes are met and a family's
budget doesn't pay too dearly lies in the planning. "Parents who create a
plan and stick to it will find they very often can make a few holiday wishes
come true without stretching a budget to the breaking point."
To
bring everything into perspective and under control, I suggest taking a
six-pronged approach:
-
Set a budget. "It
doesn’t matter whether you can afford $20 or $500 per child; you’ve got
to make a realistic budget in order to assure fairness and to keep from
going overboard," she said. Not only does this help keep spending in
line, it can also teach children the value of living within their means.
-
Shop early. This spreads expenses out over a greater
period of time and limits the chances of panic buying.
-
Split up the list. If children create a wish list, break
it up among other family members and even friends.
-
Limit expectations. Set a limit on the number of big
presents, share that limit with the children and stick to it.
-
Refuse to be taken hostage. "Don't cave into unrealistic
demands children place on you or 'Santa' during the holidays."
-
Focus on what they really love. "Children love getting
presents, absolutely, but they love the atmosphere of the holidays
more.”
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