With Halloween and Christmas just around the corner, many parents’ top focus is buying their children gifts.
For many parents, family vacations time entails a significant financial investment. Every year, in the marketed version of Christmas, families squander hundreds, if not thousands, of dollars on gifts. The Christmas season frequently falls between Black Friday, Cyber Monday, and Boxing Week, to make matters worse. As an outcome, according to a Forbes article, the fear of squandering more money on vacations grows considerably. In 2016, the average parent spent slightly over $1,700 on vacations. A personal finance writer, Maya Kachru-Levine, highlighted how such large money helps children. Parents are expected to spend at least $495 per child this year. This is a $100 increase above the expected cost reduction from the previous year.
Due to these numbers, Oliver James, the best-selling psychology author in the United Kingdom, believes that all Christmas expenditures should be paid for over the holidays rather than with presents. And, he reaffirmed his belief that youngsters often dislike or are unappreciative of the things they receive. He claims that the custom of giving children increasingly expensive presents as they become older boosts the revenues of their respective companies.
She argues, however, that, unlike pointless things, holidays are more helpful to children right now and will be more significant in the future. When compared to toy gifts for children, it is more worthwhile to spend more money on a family vacations. Especially, Thomas Gilovich, a psychology professor at Cornell University, conducted an eye-opening experiment. Thomas Gilovich was able to deduce from temptation that humans acquire happiness from experience rather than material goods.
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