"We all know presents are a big part of Christmas, but are parents going into deep debt from spending on their children’s holiday gifts?" -- Violet Regilio, 6th grade
We all know presents are a big part of Christmas, but are parents going into deep debt from spending on their children’s holiday gifts? Parents love their children, but is it too much?
Parents buy their kids presents all throughout December, and buy their kids the best presents they can get their hands on. Some parents will do anything to get their children everything on their list.
“There is the peer pressure for parents to want to create surprise and delight for kids,” Emily Irwin, Head of Advice Relations at Wells Fargo, says, “and for the kids to be able to showcase their holiday swag.”
Kids want all the new trendy stuff, and some of that is really expensive. According to the article “Here’s How Much Parents Spend on Holiday Gifts for Each Child,” parents spend $173 per child. If parents are spending that much money on EACH kid, then imagine how many presents that would be!
But according to the article “How Many Presents Should a Child Get for Christmas,”, some parents follow the “rule of three,” where they get their children one present for each gift baby Jesus received (although that’s a religious thing, therefore that rule isn’t for everyone).
Parents buy their kids presents all throughout December, and buy their kids the best presents they can get their hands on. Some parents will do anything to get their children everything on their list.
“There is the peer pressure for parents to want to create surprise and delight for kids,” Emily Irwin, Head of Advice Relations at Wells Fargo, says, “and for the kids to be able to showcase their holiday swag.”
Kids want all the new trendy stuff, and some of that is really expensive. According to the article “Here’s How Much Parents Spend on Holiday Gifts for Each Child,” parents spend $173 per child. If parents are spending that much money on EACH kid, then imagine how many presents that would be!
But according to the article “How Many Presents Should a Child Get for Christmas,”, some parents follow the “rule of three,” where they get their children one present for each gift baby Jesus received (although that’s a religious thing, therefore that rule isn’t for everyone).
Some parents would rather give their kids a lot of cheaper presents to show their love, whereas some parents will only give their kids three or four meaningful gifts with a higher price tag.
Parents that are younger will spend more on their children,” says Stephanie Weaver, the author of the article “Here’s How Much Parents Spend on Holiday Gifts for Each Child.” “Gen Z moms spend more on kids' gifts than millennial ones. Even though they make considerably less money, younger moms are willing to fork over more cash on holiday presents for their little ones,” Weaver continues. “Gen Z moms spend an average of $179 per child, compared to millennials, who spend $170.”
There has always been a toy that all kids wanted. But what were they and why do kids want them so badly? Items like this are always going to cost more because they're selling so fast. Some parents will even go onto Ebay to get a second hand $100 dollar toy.
In the past there have been toys that made everyone go crazy., such as the Furby. Furby is always the first thing that comes to my mind when I think of “toy craze.”
“The part-owl, part-hamster, part-mythical forest creature was the must-have toy of 1998. They were so popular during the holiday season, that the retail price was bumped from $35 to a whopping $100,” says the article “10 Toys That Have Caused Holiday Mayhem Through the Years,” by Lydia Price.
Parents that are younger will spend more on their children,” says Stephanie Weaver, the author of the article “Here’s How Much Parents Spend on Holiday Gifts for Each Child.” “Gen Z moms spend more on kids' gifts than millennial ones. Even though they make considerably less money, younger moms are willing to fork over more cash on holiday presents for their little ones,” Weaver continues. “Gen Z moms spend an average of $179 per child, compared to millennials, who spend $170.”
There has always been a toy that all kids wanted. But what were they and why do kids want them so badly? Items like this are always going to cost more because they're selling so fast. Some parents will even go onto Ebay to get a second hand $100 dollar toy.
In the past there have been toys that made everyone go crazy., such as the Furby. Furby is always the first thing that comes to my mind when I think of “toy craze.”
“The part-owl, part-hamster, part-mythical forest creature was the must-have toy of 1998. They were so popular during the holiday season, that the retail price was bumped from $35 to a whopping $100,” says the article “10 Toys That Have Caused Holiday Mayhem Through the Years,” by Lydia Price.
Even back then, toys were really expensive. But nowadays kids want Stanley's, iPhones, Airpods, and more. Items like these are just as expensive as a Furby. A Stanley is $45, AirPods 4 could be up to $129 to $179. An AirPods Pro 2 is $249 and an AirPods Max is a giant $549. If you really want your kid to be stylish while listening to music then, sure, get them headphones/earbuds for $129 to $549.
It’s easier to see how parents could go into debt when you look at the prices of the trending items. I, for one, would just buy dupe AirPods.
Besides buying dupes, here are some things parents can do to help their finances this Christmas:
Here's what kids can do to help their parents with finances on Christmas gifts:
In conclusion, there has always been something that kids would just die for, and it’s usually something very expensive, and even if it wasn’t expensive at first, the prices will go up because it’s selling fast. Before this all you had to do was unwrap the presents under your tree, but now I hope you understand a little bit of what your parents will go through to get you the best presents they can. Even some parents will do anything to make sure that you have a wonderful christmas.
Merry Christmas and have an amazing break!
It’s easier to see how parents could go into debt when you look at the prices of the trending items. I, for one, would just buy dupe AirPods.
Besides buying dupes, here are some things parents can do to help their finances this Christmas:
- Shop less
- Create a budget for yourself
- Shop for secondhand gifts (Secondhand gifts are usually cheaper than brand new gifts)
Here's what kids can do to help their parents with finances on Christmas gifts:
- Make a limit of items you can put on your Christmas list.
- Make sure what's on your list is what you really want. (So your parents don't waste their money on stuff you don't really want)
- Set a budget for your Christmas gifts you want.
In conclusion, there has always been something that kids would just die for, and it’s usually something very expensive, and even if it wasn’t expensive at first, the prices will go up because it’s selling fast. Before this all you had to do was unwrap the presents under your tree, but now I hope you understand a little bit of what your parents will go through to get you the best presents they can. Even some parents will do anything to make sure that you have a wonderful christmas.
Merry Christmas and have an amazing break!
