Santa Tightens His Belt
Christmas excitement is building, but so is the cost-of-living. Inflation is soaring, and it’s hitting parents right in the wallet. Life has never been so expensive.
We’re supposed to love Christmas for the memories and experiences, the connection and relaxation. But marketing, materialism, our kids’ expectations (and our parental guilt), combine with our custom of gift giving to imperil us financially. Economic strain casts a dark shadow over what is supposed to be a joyful time.
Who remembers what they received for Christmas when they were 6? Or 14? Or even last year? Nobody.
Sure, we recall some of our gifts for various reasons: it was super special, there was an event associated with it, if it was from someone unique. But percentage-wise, you’ve forgotten 99% of the gifts you’ve received.
What do you remember?
Connection. Excitement (yep, for gifts you no longer recall). Smells. Food. Laughter. Love.
Ok, that’s all correct in theory.
When the kids have disappointment on their faces after opening their presents though, reality bites. There’s a little less connection. Excitement evaporates. Laughter is limited.
Let’s get real. Kids want gifts. And we want to give them gifts. But we’re facing financial realities that can’t be ignored.
By the time they’re around seven or eight years old, kids begin to notice and understand the concept of money. They can compare. They also hear you talking about money and know what it means (and some kids will be very sensitive to this).
When discussing Christmas lists and budgets with your children, remember the Three E’s: Explore, Explain, and Empower. These conversations should be filled with empathy, especially when kids feel it’s not fair.
Explore what they want and why. Ask what they love about Christmas.
Explain what limits are in place. And emphasise the aspects of Christmas that are most important to you as a family.
Empower them to find solutions to their optimistic expectations – and also empower them to develop a plan for bringing joy to others during the festive season.
And if their list is overly extravagant, help them explore entrepreneurial opportunities and teach them the value of earning their own money.
As parents, we often grapple with guilt when we can’t give our kids everything they desire. Remember, it’s your presence and love that matter most to your children, not the price tag on the gifts you can provide.
Want more?
The Happy Families Podcast
Episode #883 | Santa Tightens His Belt
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