- Quality vs. quantity: This is old advice but it's good. "It's the thought that counts." A thoughtful, well-chosen present will always be received with gratitude and pleasure, no matter how much it cost. And when it comes to your kids, remember that most of them have plenty. Don't overdo it when shopping for the kids.
Cash can be a meaningful present; a gift of money earmarked for a larger purpose or a long-term goal can be a great present. Open a savings account or custodial account for your child as a way to get them involved with personal finance. One way to keep them interested and motivated is to match their future contributions to the account.
Create a college savings plan for a child or grandchild. Or perhaps you can jump-start the process of saving for a once-in-a-lifetime family trip that will create lasting memories. The point, I think, is to go beyond the usual gift cards or gift certificates, and instead contribute to a meaningful goal.
In essence, remember your priorities as you shop for the holidays and be true to them. Generosity is a wonderful thing, and if you have the urge, by all means act on it. But be charitable in a way that reflects your realities and values.
The goal of gift giving, it seems to me, is to acknowledge in a tangible way that you care about people. It shouldn't become an onerous duty or a financial burden, but a source of pleasure.
