The Big Story Is it okay to skip the presents this holiday season?
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Dec 8, 2024 Lisa Hannam, Editor in Chief at MoneySense.ca, dives into holiday spending amid economic challenges. She discusses 'giftflation' and offers tips for thoughtful gifting that fosters relationships without breaking the bank. The conversation includes ways to shift from material gifts to meaningful experiences, emphasizing the joy of family connections over financial pressure. Lisa provides advice on navigating tough conversations about skipping gifts this year, encouraging honest communication about financial priorities.
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Open Communication about Gifts
- Communicate openly with family and friends about skipping wrapped gifts this holiday season.
- Suggest alternative celebrations like shared meals, volunteering, or creating new traditions.
Shifting Holiday Focus
- Holiday celebrations don't have to escalate in cost each year.
- Focus on meaningful experiences and togetherness, rather than material possessions.
Gifts for Children
- Consider experiences or less expensive gifts for young children.
- Focus on the excitement and family time, as cost is less important to them.