Here are some ways you can show you care, while keeping a lid on your spending:
Play, Wear, Read, Share
Have you heard of ‘the four-gift rule’? It is a simple idea that helps make shopping for kids’ presents a little less overwhelming. Basically, if you follow the four-gift rule you buy four presents for your child at Christmas:
Want. Need. Wear. Read. And it rhymes (bonus).
This is the BIG gift. The one that they really would like to have. It is typically a toy, but if your kids are older, electronics could make the list.
Kids need a lot of things. You can take this seriously or play with it.
This one is self-explanatory: anything that can be worn! New shoes, especially more expensive speciality shoes like sport shoes, could fit in this category.
You can interpret this one as anything you can read, even the directions to a new board or card game.
Good luck! Remember, exercising some restraint at Christmas time will stop you starting the New Year with stressful debt.
Fortress Financial Solutions founder Chris Black is an award-winning financial planner based in Toowoomba who specialises in superannuation, investing, business succession, cash flow management, retirement planning and personal insurances (including life insurance, income protection, total permanent disability and trauma insurance).
Corporate Authorised Representative of Magnitude Group Pty Ltd ABN 54 086 266 202, AFSL 221557.
Parts of this post were compiled from ASIC MoneySmart.
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