Tips like these helped us pay off $127K in debt. You can read our story in Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After.
There is nothing like the joy of a child on the morning of December 25th.
However, if we’re not careful with our Christmas gift giving strategies, that joy can turn into a nightmare. Don’t get me wrong. Giving gifts to our children at Christmas is a very good thing. But when our homes are overtaken by toys (how is that they mate and multiply like rabbits in the middle of the night) and the drawers are stuffed so full that we can’t even open and close them, it’s time to rethink gifts.
Here are some tips to keep you and your kids from getting the Christmas crazies.
Begin With a Grateful List
It’s the time of the year where we ask our kids to list their wishes and dreams or circle pictures in toy catalogs. While passing along a Christmas list to Santa or Grandma is just fine, it may be a good idea to joy down a Grateful List first. Have kids rank their ten favorite toys. Recall experiences of the last year that everyone enjoyed. As parents this is also a great opportunity to take inventory of what fits and doesn’t so that you see any holes in your kids’ wardrobe or winter wear needs. Sometimes when we identify the items we are most thankful for, we realize there isn’t much we really need.
Limit the Number of Gifts
For every family, this will look a little bit different but it’s a very good idea to have a concrete number of gifts you will purchase for your kids. Setting a firm boundary prevents the “just one more thing” syndrome and helps you check your list off with enthusiasm and accuracy. Perhaps you’ve heard the 4 gift adage – “Something they want, something they need, something to wear, and something to read.” In our home, we choose to give our daughter 3 gifts: an awesome toy/electronic/big ticket item, an article of clothing (because clothes are a good gift!), and a book. We also fill a stocking full of practical and fun items. Whatever you settle on, choose a guideline and stick with it.
Give an Experience
More and more each year, I long for more quality time with my kids. If you’re a grandparent or parent, you probably feel the same way. They’re only young once and the months seem to move by so swiftly. So maybe instead of giving a “thing” this year, it’s time to give an experience – tickets to the movies, a membership to the Zoo or Children’s Museum, a weekend away as a family. You might also choose to give a special child in your life classes, lessons, or a camp as a gift this year. Think outside of the gift box and spare yourself the clutter. You’ll never regret spending time with your child.
Think Practical
I know what you’re thinking. No kid wants to open a big package of socks and underwear on Christmas morning. And while that might be true, you can give practical gifts in special ways during the holiday season. We always put some sort of food item in our girls’ stockings. I’ll never forget the year the Princess Youngest was 2 and held on to the box of Goldfish we had purchased, exclaiming “Thank you!” over and over again while her new tricycle sat untouched in the corner. Whether you spring for the character toothbrush, buy special bubble bath, or even pick up the sugary cereal you’d never buy on the grocery budget, good gifts can have a practical edge and I bet you’ll find the kids love them.
Never Pay Retail
Last week, we talked about successful online shopping strategies for Christmas. I’m a firm believer that there’s always a way to get around paying full price for anything. This is the best time of the year to be sure you’re using coupon apps and smart strategies shopping at the store (find my favorite strategies for almost every store here). Resolve that this Christmas you won’t pay retail price for anything. Whether you’re using Deal Sites For Great Christmas Bargains or cruising the mall, there’s always a way to make a bargain even sweeter.
The magic of kids and Christmas bestows great gifts on everyone who beholds it. Keep your spending in check to make the most of that magic this holiday season.
My book is now available: Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After. You can also check out Inspiration to Pay Off Debt: 30 Days of Encouragement from the Queen of Free
