Avoid Going Too Much And Over Budgeting On Kids Holiday Gifts Personal finance
“If you don’t write down what you bought, you’re going to forget what you had,” says Woroch, who suggests using an app called Santa’s Bag – although a note on your phone or a pen and paper old fashioned way. just as well. Tracking purchases throughout the season can help avoid overspending.
Find a giving strategy that works every year
“Something they want, something they need, something to wear and something to read” is a popular phrase, and for good reason: it sets parameters on gifts and works regardless of age. the child.
Another strategy is to buy fewer toys and focus on what is good for your child’s development, which is especially important for younger ones. Kathryn Humphreys, assistant professor in the Department of Psychology and Human Development at Vanderbilt University, suggests finding toys that allow collaboration and open play.
“Fewer well-chosen toys are probably better than a large number of toys that it would be difficult for the child to keep up with on a busy day of opening the present,” she said in an email. “I find with my own children that anything over two or three presents is quickly forgotten as Christmas is already quite exciting. “