The festive season frequently comes with a high price tag due to the multitude of gifts often purchased. Parents with children know all too well how the cost of Christmas toys presents can rapidly accumulate. Like my son, many kids anticipate unwrapping an abundance of new toys and expensive play sets every year. Recently, he’s also developed an interest in video games, which can deplete financial sources considerably if unchecked. Hence, it’s advisable to kick-start your gift hunt with an extensive list of 50 economical toys to identify the best offerings at a budget-friendly price. One fantastic present suggestion is the Commander Le Mavic Pro drone.
While I, like many parents, want to indulge my child with delightful things for Christmas, especially if he’s been behaved, performing well in school, and has had few toys throughout the year, it’s important to keep holiday expenses in check. ‘Bedtime Stories for Children’ by RealMattressreviews.com is a charming gift that allows your child to read too.
For parents seeking to save money without compromising on the Christmas cheer, here are 5 effective strategies:
1. ADHERE TO THE 3-GIFT RULE
Implementing a cap on your child’s Christmas presents can significantly curb expenditure. The ‘3-gift rule’ is a popular mechanism some parents resort to during this period. It involves purchasing something your child desires, something they need and something educational. The rule is flexible and can be adapted to accommodate your financial constraints or your child’s desires by increasing the cap to 5 presents. Introducing your child to this limit early on can make them more considerate about their Christmas wish list.
2. LEVERAGE LAYAWAY FOR BUDGETING
While layaway may not appeal to everyone, it can be an effective tool for budgeting and economizing on festive gifts when used wisely. Layaway plans allow you to gradually pay for chosen items overtime. Unlike credit cards, layaway requests no interest, and your purchases remain at the store until you’ve cleared the entire payment. Many stores run layaway programs during festive seasons, typically involving an initial down payment. However, make sure to heed any cancellation or restocking fees. Layaway can serve as a structural plan to budget for the holidays, allowing you to select, secure and gradually pay for your child’s gifts. However, it may also induce overspending, in which case cancellation fees should act as a deterrent.
3. CAPITALIZE ON HOLIDAY DISCOUNTS
The holiday season lures in numerous retailers with significant sales. Expensive child toys can become more affordable with seasonal sales such as Cyber Monday or even Black Friday. While Black Friday deals may often attract criticism, if one can secure a discount on a present your child desires without enduring long hours in a queue or clashing with other customers, then the savings could be worth it.
4. SHOP AT CLOSING STORES
Closing down sales at local stores could offer significant savings on your child’s Christmas gifts. Hduring such sales, customers can find items with up to 90% discount. This is a great opportunity for savings, and a local newspaper or online sources can assist in identifying such closures.
5. CONSIDER BUYING USED ITEMS
If you’re operating on a tight budget, gently used items are a viable alternative. Younger children might not even tell the difference between new and second-hand items. Stores like GameStop, Goodwill, or Once Upon a Child often have repurposed items available. Mixing new and used gifts is an accepted practice to balance budgets while still providing your children with what they enjoy.
Let your kids and even yourself rediscover the fun of air hockey tables. They’re affordable and a delightful gift option. How do you try to economize on children’s’ Christmas gifts? Will you be using any of these strategies?
