I meet many people this time of year who are stressed by their belief that they have to spend a lot of money on holiday gifts. There was a wonderful article in the Chicago Tribune the other day in which Bridget Doyle addressed this issue (“Cutting Christmas to the Core”).
There were a lot of good ideas in the article, and I encourage you to click on the link to read it. One important idea is the research finding that children who receive fewer material things end up with a greater sense of gratitude in life. It makes us stop to consider whether we want to give children temporary pleasure or lasting virtues.
What are your ideas for keeping holiday spending within reasonable limits?
4 Responses to “Spending Wisely During the Holidays”
I agree with this 100%. My wish is that we all experience a greed-free Xmas and remember the reason for the season—it sure isn’t the gifts!
I had never heard that “want, need, wear read” formula before (from the Tribune article) and think it is really neat! It would be a great practice, then, to help kids “dream big” in each of those categories, and then progressively narrow down their list to something that is reasonable. Seems like it would be great practice for the personal finance decisions we make as adults!
Is what you receive during Christmas likely to make you happy for the rest of your life? Doubtful.
Have your kids actually spend their allowances on things for “other” people. Volunteer in soup kitchens, or at food pantries…Give your kids the knowledge, early on, that money can not buy happiness. If one is wealthy, make sure you don’t get all the things on the lists that kids want. Greedy children grow up to be greedy adults…
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