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How to Handle ‘I Wants’ from Your Kids During the Holidays

How to Handle ‘I Wants’ from Your Kids During the HolidaysAs a parent, the holidays are likely a time of mixed emotions.

Sure, you enjoy the chance to spend quality time with your family, and you love seeing how excited the kids get when they are able to open their presents.

However, you have to balance the budget even during this exciting time of year, which can be difficult to say the least.

If you are going to get through the holidays successfully without ruining all of the hard work you have done on your finances during the year, it is crucial that you manage to tell your kids ‘no’ on some of the most expensive holiday ideas. Here are some tips to help you handle the ‘I wants’ from your kids during the holidays.

Setting Expectations

Well in advance of the holidays, start to talk to your kids about what they can expect to receive in terms of gifts. You can still allow them to have the fun of looking around for various presents that they can ask for. But make sure they understand that you won’t be able to buy everything in the store all at once. Ask them to pare down their list to just the few things that they want the most. Then you can pick from options that they are likely to love.

It is never easy to tell your children no. Involving them in the process of picking out presents is a great way to help them see the big picture.

Steer Them in the Right Direction

Depending on the age of your children, you may be able to ‘steer’ them in the right direction. Point them toward gifts that are fun and yet also affordable. By introducing them to fun presents that come with a lower price tag, you can get them excited about receiving something that you can easily afford.

It isn’t going to be a fun holiday season if you have to stretch your budget all the way to the max in order to pick up the presents that will make your children happy.

Save Up

If you are committed to buying expensive presents for your kids, you will need to plan well in advance to be sure you can afford to pay cash for them. You don’t want to put these kinds of purchases onto a high interest rate credit card. Plan ahead and save up accordingly so you have the money available to buy the gifts on your list.

One of the hardest things to do as a parent is to tell your children no. But sometimes that is exactly what needs to be done in order to keep the family in good financial position.

Don’t a disappointing holiday season by just saying no. Work together with your kids to find toys that will make them happy and will also suit your budgetary restrictions. As long as you are smart about the shopping process, the holidays can be fun and affordable at the same time.

 

Do you hear the ‘I wants’ from your kids during the holidays? How do you handle it?

 

Photo courtesy of: Paval Hadzinski

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John Schmoll is a Dad, husband and veteran of the financial services industry. He's passionate about helping people learn from his mistakes so that they can live lives free from the shackles of debt and empowered to make their money work for them. You can check out his other sites: Frugal Rules, for ways to improve your financial literacy; and Sprout Wealth for tips on different ways to make more money. John has been featured on Forbes, Lifehacker, Yahoo Finance and US News & World Report and more. If you're wanting to grow your blog, check out my blog coaching services to see how I can help you take your site to the next level.

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2 comments

  1. This is going to be very useful for a lot of parents this season! Our daughter is grown and out of the house now but we were blessed to have followed basically these same tips with her when she was younger.
    Brad, Financial Coach recently posted…Slow and steady got me to $500kMy Profile

  2. It takes some time to instill to them the lessons from wants and needs. I think one important thing to do as parents is to inform them what they’d be getting and to make sure that it meets their expectation. Nice strategies!

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