The holidays are a time of year that Americans spend millions. According to Gallop, Americans plan to spend an average of $830 on gifts this season which is increased from last year. It is a time of year when many of us enjoy giving to our loved ones. What is your holiday budget? How much do you plan to spend? Are you flying by the seat of your pants with spending?
I think sticking to a budget for gifts is particularly difficult with kids. The joy of giving gifts is seeing the excitement and pure joy when children open their gifts. My toddler and preschooler are already circling toys from catalogs to create their wish lists. I have no doubt there will be lots of squeals of joy on Christmas morning.
The first obvious reminder is to remember the holidays are about spending time with loved ones and not materialism. It is easy in our society to want more ‘stuff.’ Our children don’t need every toy in the toy store to be happy.
Here are some strategies to reduce stress and materialism:
- Less is more! I have heard some families do 4 simple gifts. Each child gets something he wants, something he needs, something to wear, and something to read. Even if you get more than 4 gifts, don’t let yourself fall into the guilt trap that many parents fall into by thinking that our kids need to have dozens of presents stacked up under the tree.
- Make gifts personal! Gifts do not have to be big nor expensive. Homemade gifts can be meaningful. Make it interesting and memorable!
- Give experiences! My family loves doing this. We keep our boys busy and having passes to museums is a gift that keeps giving. My husband and I get to go out on a date about once a month and we try to do something ‘extra’ around the holidays and this is our gift to each other.
- Put together a budget and stick to it! Having a budget will reduce stress because you will know how much money you can reasonably afford to spend on which gifts and therefore avoid impulse buys.
What are your tips for reducing materialism?