#FinancialFridays: The Budget Friendly Four Gift Rule

One of the coolest things I have learned about from my coworker is the 4 gift rule.
As major gift-giving holidays approach, there is a lot of pressure to spend money, usually more money than we have available to spend. My coworker told me about the approach she takes with her kids.
Ask your kids to make a list of 1-4 ideas for each of the following categories:
- Something I want
- Something I need
- Something to wear
- Something to read
Depending on their age, you can make this a guided discussion and make the list together. Think about discussion listing items like doll (Barbie, Bratz, etc.) instead of more specification, like “Bratz Original Fashion Doll Dana”, or Lego instead of a certain Lego set. The broader, the better.
Let them know they will get four presents, one from each category. This helps create and maintain realistic expectations.
This will give you ideas for things to get them or ideas to share with others in your family (blood or chosen) who want to get them something. If the ideas are broader, it can make it easier to meet their requests on a budget, through gift swaps, from secondhand stores, or through gift donation programs. Also, look at “Buy Nothing” Groups.
If you need some help this holiday season with food hampers or gift programs, check out our list through the link below. The registration date for some programs has passed; some are still accepting registrations.
