The holidays can be a real financial drain! I don’t mean to sound like a scrooge, it’s just that many families find themselves with the extra gift of debt after the holidays. As much as it’s fun giving everyone what they wanted for the holidays you may find yourself with a great big lump of coal once your credit card bills roll in come January. You find yourself wondering where that budget went haywire! So I’m wondering: How much are you spending on the kids this holiday season?
For us, we bough some modest gifts for the kids. Our youngest is an infant so we don’t have to really get her anything. Our son, the middle one, is a toddler, and isn’t old enough to be too concerned with getting lots of stuff. That leaves our oldest, who is nine. We got her a nice little gift, some much needed new clothes, and my wife took her to see a holiday show at Lincoln Center (a yearly tradition for them). In all, I’d say we spent about $300 for their gifts this year. We may spend a bit more over the holiday break. That would be in the form of going out as a family perhaps to the museum or an event similar. Not so much of a gift per se, rather something we can do during the holidays together.
I do have to add that our two oldest have birthdays in late January so we make sure not to go too crazy during the holidays since we’ll be getting them gifts soon again anyway.
Maybe $300 or so is a lot? Maybe it’s hardly anything considering a Wii costs at least just under that, what with games and controllers and such. We just don’t see the meaning in getting a lot of gifts for the kids during the holidays. They get from grandparents, aunts, uncles, friends…they don’t need that much more from us. And we’ve found that for all of the gifts, they hardly play with any one item too long. Maybe one particular gift will get some real mileage but overall the gifts don’t et used much.
I don’t expect that our costs will remain this low in the future. As the kids get older they will want bigger and more items. We’ll also have three to buy for! But that’s another reason why we don’t get too much now. If we cater to thier whims and buy them all the toys and such they want now what will we do when they get older?