Kids at Christmas can expect a lot from you. They might want the latest expensive gadget or bike, a new toy that’s just hit the market or perhaps the latest phone. Whatever it is they have their hearts set on, as a parent or carer you can feel under a lot of pressure to give them what they want without breaking your wallet.
One thing you should do is set their expectations to a realistic level right from the start. If they ask for a trip to Disneyland and this simply isn’t on the cards, you should immediately let your child know this.
Remind them of the value of money
Many parents fall into the trap of saying that Santa brings all the presents, and so the child has no concept that the parent has to work hard to earn money to buy any presents for them themselves. Perhaps you could suggest that some gifts come from Santa (maybe the stocking fillers) and the rest comes from you. This helps them to understand that you have to spend your own money.
Find great deals online
You can find some fantastic deals online. Check out the top 12 websites for finding a bargain online. You’ll find that discount vouchers can really make a difference on the total price and they can be quite easy to pick up with a simple internet search.
Plan your finances
If you want to treat your kids this Christmas, plan ahead and figure out how the financial side will work out. Wonga ZA suggests asking yourself three questions before making any purchase. This includes do you need it? Can you afford it? And what will it cost you overall? Asking these three questions may stop you impulse buying and will enable you to determine how worth it the gift really is. If you’re using a loan to cover the cost of Christmas, the extra interest rates on your purchase might make the gift less attractive to buy.
Team up with other parents
In the lead up to Christmas, many toy websites release a 3 for 2 deal, or similar, which enables you to have the third cheapest item for free when purchasing three toys. If you team up with other parents and each buy a similar priced toy, you can share the saving. This makes big differences when you think of more expensive gadgets like iPads or bikes. Remember to read all the terms and conditions first, though, to ensure you can carry the deal across to the items you want to buy.