The holiday season gives us so much to look forward to, it brings lots of cheer, family, food… and debt.
Families are trying to position the gifts to look like there’s more there while simultaneously keeping the kids from being disappointed.
The great news is kids are incredibly more understanding than we give them credit for when we prepare their young minds for how this holiday may look a little different regarding their wishlist – and we can tell you how.
Thanks to Biden and his administration’s love for spending and anti-American business support, inflation has continued to rise since his inauguration in 2021.
An estimation by NY Post reports a paltry 13% rise in inflation, but they’re a liberal news outlet and almost certainly giving a lot of grace in this interpretation.
More conservative news sources suggest inflation has risen much higher.
And this mismanagement of Americans hard-earned cash has left our wallets thinner this Christmas.
Cutting down on gifts is the smart move to make to prepare for the rocky economy, but how do we tell our kids that?
Don’t surprise your kids with the new game plan
Sit down with your children and let them know before the day they open their gifts that they will be getting a set amount of gifts because of the changes in the cost of living.
For younger children who don’t know what cost-of-living expenses are, you can explain that having a couple toys they really love is better than having lots of things that take up all their play space and longer to pick up at cleaning time.
This may be harder to accept for some kids so amp up other areas of the holiday season for them to get excited, like making more decorations together or getting involved in holiday charities.
Make a point to include gratefulness in the holiday spirit
Every gift is a blessing whether it’s ten or one, and kids should view them that way.
Including gratefulness in your family values will benefit the children all throughout the year.
Leading up to the big day, have your child journal or draw something they are grateful for every day so when they receive a gift it’s added onto the long list of blessings they have already recognized.
Make the limited gifts fun
It is tempting for parents to get their children something they need for the holidays, such as a new hockey stick or tennis shoes.
But that just isn’t as fun as receiving the toy train they have been harping on for four months.
If they can only get one or two gifts then make it something they will enjoy playing with, and budget their new sports gear or clothes into the next couple months.
Teach kids how to talk about gifts with friends
It’s natural for kids to want to tell their friends and family about something exciting like a new toy or trip.
However, there are many families in many different financial situations and excitement can quickly turn into bragging.
Have kids get into the habit of asking others how their holiday was – what family they got to see, what foods they ate, and how they enjoyed their time off from school – before getting into what material things they received.
Focus on giving instead of receiving
Go over ways you can give to the community or those in need with the whole family – even planning one activity a day leading up to Christmas.
Bake cookies for the neighbors, organize a caroling evening, and spend a day at a food pantry.
It’s not easy having a tight budget during a time everyone around you is talking about buying the latest gadgets, tempting you to believe your family’s happiness depends on it.
Stay strong!
Being able to adequately provide for your family year-round far exceeds the hype of one day (which is about as long as many of the toys last).
Give your family a gift that lasts longer than material goods by focusing on the true meaning of the holidays and making traditions that will be cherished for generations to come.