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I agree with all of the above, and also want to say that the economic climate now is, indeed, affecting all of us. People are out of jobs, or having trouble finding them, or if they have them, the money isn't going as far as it used to.

If there are people who you feel you would like to talk to about this (especially before the holidays), realize that they may be feeling the same way and the conversation might be a relief to them as well. I think that you can say something as simple as "With the economy as it is today, we're hunkering down and keeping our holidays smaller and simpler this year." It makes you sound smart and it gets the message across.

Inside the family, especially with the children, use their imagination! We didn't have much money when I grew up, but I was a creative nut and wanted to make presents anyway. Watch women's magazine covers like Family Circle or Women's Day when they have their "125 Gifts to Make" issue, or something similar. Make it a challenge for them and see what they come up with for their aunts or uncles or teachers or friends.

I think that kids can understand and rise to the challenge of nearly anything, as long as they aren't surprised. Don't worry them about the finances, but don't keep it secret, either. If you show them that sometimes money is tight and we budget and are careful, and other times money isn't tight and we can spend more of it, you also are teaching them how to manage money when they're grown and on their own. They'll have seen you do it, matter-of-factly, and they'll know how to do it too.

October 20, 2008 - 8:24am

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