Saturday, November 5, 2016

Change Your Child's Allocation To Spend-Save-Give-Gift For The Holidays

Spend Save Gift Money Jars

’Tis better to give than to receive, right?

Unfortunately, kids can’t discover that beautiful truth if they’re always on the receiving end of the holiday gift exchange.

Here’s how to make sure your kids have the funds to be on the giving end as well.

  1. Set up a separate gift fund for your kid. Add an extra jar, account, or prepaid card to your standard set of buckets.
  2. Pick a modest gift budget. One way to keep things fun yet frugal is to organize a secret family gift drawing for the holiday. See how we organize our family drawing and limit the budget to $20 a child here.
  3. Divert a slice of allowance, chore, or odd job income to fill the fund. Temporarily amend your kid’s spend-save-give allocations to add in a percentage for the new gift bucket. Revert to the original allocation once the gift fund hits the target amount.

Now your kid will have the gift funds in hand by the time the holiday rolls around.

Giving a gift purchased with hard-earned money always generates a special sense of pride and joy in a youngster. And, as a happy consequence, your child will appreciate receiving gifts from others even more. It’s two gifts in one.

Want to turn these tips into action? Check out

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