The question of how much money you give to your kids for Christmas is a tough one. While guilt is tempting, it can also make you want to give too much. Instead, consider how much will help them and how much you will spend on other things. Here are some tips on how to limit how much you give to your kids and still make the holiday special for everyone. In addition, you can spend more on yourself this year and make sure that you’re able to give your kids the best gifts possible.
Experts suggest that you spend less than $150 per child, which is the average amount for a Christmas gift. It’s also good to teach your children about money by giving them the same amount as your own. Experts recommend that parents spend between $75 and $100 on their children’s presents. You can also set a budget for your kids and stick to it. A little planning and strategic shopping will help you stretch a few dollars per child.
Don’t let Christmas stress you out. Instead, focus on giving gifts that are meaningful to you and your children. You can always buy something for yourself if you can afford to, but if you can’t afford a gift for each child, don’t. Instead, focus on giving life lessons, memories, and experiences instead of material objects. You can do this by following these tips. You can also make a Christmas budget for your family.
Don’t be tempted to give too much money to your kids. Statistics suggest that the average amount of money spent on gifts for children is $276 per child, and even that’s for parents with kids and their partners who don’t have kids. Some parents might even rob the bank to make their child happy. Just remember to make your child’s Christmas wish list special. Your child will appreciate the thoughtful gesture.
If you’re giving gifts to close friends, you can afford to spend a little more. These friends are often more intimate and may have different gift preferences than other people. In addition to a family, kids make lots of new friends during school, in clubs, and in groups. Some of these friends turn out to be lifelong friends. As a parent, you’ll also need to buy gifts for your kids’ friends, whether they’re close or not. Spend around $10-15 per friend.
Decide your budget for Christmas gifts. Once you know how much money you want to spend, you can allocate that amount evenly among your family members. If you’re on a tight budget, you can send a simple card instead. You can also make hand-made gifts for your friends and family if you don’t have much money to spare. Your significant other probably understand the holiday’s stress and can help you set a realistic budget.