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It’s a joy to see children during the holidays open their presents in the morning. That exciting rush and the smiles on their faces can convince anyone that braving the hectic shopping season was worth it.

On the other hand, it brings a lot of pressure on parents to make this time of the year fun and surprising—and that isn’t always feasible depending on the circumstances. Instead, you can use the holidays to teach children about budgeting and giving. Instilling these values can alleviate some of the stress and capture more of that holiday spirit.

Showing your kids how to view money during the holidays can go a long way in teaching them to be smart savers and savvy shoppers later in life. Here’s what you can do to teach your children about handling finances this time of year.

Hands-on Financial Lessons for Children

One of the most important money management skills your child could ever learn is managing expectations. It’s a skill that covers a lot of things, like:

• Examining finances
• Differentiating “wants” versus “needs”
• Setting priorities
• Making choices

Let’s say your child, in the spirit of the season, is hard at work making their wish list to Santa. If their list seems a little out of control, suggest a dollar limit so they can be clear about your budget. You can use play money from a board game to demonstrate spending limits and the concept of shopping.

You can also provide teachable moments by redirecting focus. Instead of a “me-centric” list, you could encourage your child to make a list of things they would like to give friends or family. Set a budget and talk about what they can afford.

Take these moments to teach by example. Demonstrate your holiday spending practices with positive behaviors, like:

• Setting a shopping list
• Buying gifts for others instead of yourself
• Explaining why you are giving gifts to others

As we all know, managing finances is a lifelong skill that requires frequent revision, reflection, and action. If you need some pointers to refresh your knowledge of holiday spending and budgeting (that could also inspire teachable moments!) we recommend these pointers.

When you show the financial factors that go into this time of year, you are also teaching to your family the importance of gaining perspective and showing mindfulness.

Focus the Holidays on Building Relationships

Or, instead of focusing on material things, suggest to your child that they can give the gift of their time. For example, have your child read to a younger sibling. Or, when the weather permits, encourage them to volunteer to do the yard work for an elderly neighbor.

Another activity you could do is join or organize a charitable event with your family or neighbors. For example, host a clothing donation drive in your neighborhood and let your children collect donations. Or, volunteer your time at a food bank or shelter where the kids can gain firsthand experience in serving the community.

If you send cards, ask your children to sign them, too. Talk to them about how sending season’s greetings can be special to someone. This shows the kids that the holidays are a time of renewing connections and not just a gift exchange.

The holidays can be fun, and it is important to show your children that they are a time for gratitude and togetherness.

All in all, the experiences we share resonate long after the wrapping paper’s been discarded. The holidays are a perfect time to teach the children what truly matters.