Five Tips for Saving Money on Christmas Toys

Christmas shopping season is nearly upon us. If you didn't save your economic stimulus check to buy presents for your little ones, here are a few ways you can still save a bundle on Christmas toys and presents this year.

Tip #1: Think used.

Kids grow out of toys, become disinterested, and run out of room to store things. This means that all those used toys typically end up on eBay, at the Salvation Army or Goodwill, or in garage sales. With little effort, parents can find used toys in good working condition at places such as these.

With a quick clean up and some Christmas wrapping paper, your kids won't know that the toy isn't brand new.

Tip #2: Think swap.

If the idea of combing second hand stores doesn't appeal to you, arrange a neighborhood toy swap. Many parents clean out toy boxes in order to make room for all the new toys Santa will bring. You may find that your neighbor is getting rid of a toy that your child wants, or vice versa.

Tip #3: Take a trip instead.

This tip may work better with older children. Instead of spending money on toys and presents that kids will lose interest in after a month, plan a trip somewhere your whole family will enjoy.

Indoor water parks, winter professional sports, and winter recreational sports all offer a great way to have a fun trip. This tip eliminates at least some of the stressful shopping, and can be planned by the whole family. The time together will mean so much more than a new iPod ever could.

Tip #4: Buy for a needy family.

Like Tip #3, this tip may work better with older children.

Most cities have programs in place for helping lower income families purchase Christmas presents for their children. Don't run out and spend hundreds of dollars on your kids for things they probably don't need. Instead, give the money to your kids, and have them buy for someone who is not as blessed as they are.

Kids are much more empathetic than adults imagine. They will enjoy shopping for things they'd like to receive and giving them to less privileged kids. As an added bonus, your children may have a greater appreciation for the expense of Christmas and the work it takes for you to shop, wrap, and buy all those gifts.

Tip #5: Understand the full cost of every toy you purchase, and consider sharing the cost.

In this electronic and virtual world, the add ons, accessories, and upkeep for some toys can cost far more than the original cost of the toy.

Be aware at the time of purchase of additional accessories that may be needed for your child to get the most from their toy. If add ons are pricey, consider going in with another parent on the toy, so that accessories and expenses can be shared.

Christmas should be fun for everyone in the family, including parents. Reduce your stress by finding more cost effective ways to finance Christmas this year! Don't underestimate the usefulness of a Christmas budget, and consider fast ways to make extra Christmas cash.