Avoid going overboard and over budget on kids’ holiday gifts

It’s hard to resist the holiday messaging to buy gifts — and lots of them — to make the season brighter and more fulfilling.

However, supply chain disruptions may make this year’s shopping stressful, especially for parents looking to buy toys in short supply. Shortages aside, going overboard on gifts for your kids could create budget stress and unintentionally set unrealistic expectations for years to come.

This year’s added pressures could offer parents a chance to rethink their holiday shopping and budget strategies. These tips from budgeting and parenting experts can help you cut through the noise and find what works for your family.

SET YOUR HOLIDAY BUDGET

A budget is crucial to keeping spending in check. If you’re struggling to figure out a realistic holiday budget, review previous years’ spending.

“You can literally pull up your credit card statements from last November and December if you want to get a general sense of where your money went,” says Andrea Woroch, a money-saving expert focusing on advice for mothers. Contemplate whether you want to repeat that spending pattern or if it left you stressed when January rolled around.

Budgets change from year to year. “Things can change in a year dramatically,” Woroch says. “Did you have another kid? Did you get divorced or married, bought a house, get a new job, lost your job? Whatever it is, you kind of have to reassess based on your current situation.”

TAKE INVENTORY AND GET ORGANIZED

Things get lost in overflowing toy boxes. Taking inventory of what you already have is a great way to figure out what your kids need and an opportunity to set aside items they’ve outgrown.

Items in good condition can be donated or sold in online marketplaces to other parents looking...