PARENTS ARE TRYING TO KEEP THEIR KIDS AND THEIR FAMILY BUDGETS HAPPY THIS HOLIDAY SEASON. UNIVERSITY OF FLORIDA RESEARCHERS SAY IT MAY TAKE A LITTLE MORE STRATEGY TO KEEP KIDS’ EXPECTATIONS IN LINE WITH THE FINANCIAL BOTTOM LINE.
Michael Gutter/UF family financial researcher: “We always know inevitably with the holidays comes the gift-giving. That’s where I think parents need to have at least some expectation setting with their kids, especially if this year will be very different than last year. There’s nothing wrong with that, we all know… but times are tough and we have to make some cutbacks somewhere.”
EXPERTS SUGGEST LETTING KIDS, PARTICULARLY YOUNGER ONES, MAKE A GAME OF IT BY WINDOW SHOPPING FIRST SO THEY CAN PICK-OUT WHAT THEY REALLY WANT. OLDER KIDS AND TEENAGERS MAY REALIZE THAT ONE EXTRA GIFT NOW COULD MEAN THE LOSS OF SOMETHING MORE IMPORTANT TO THEM DOWN THE ROAD.
Michael Gutter/UF family financial researcher: “If you go into a lot of debt in the holiday season to really not let it change from last year to the next, you may end up regretting it in the springtime or the summertime when you’re really paying down those holiday bills and you don’t have money to send your kids to soccer or football or basketball or any of the things they were really looking forward to.”
AND THAT’S A LUMP OF COAL NO KIDS WANTS TO GET.