I'm a middle-class mother of 4. I start a holiday budget early and do a lot of research before buying presents.

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• My first Christmas as a mom, I spent $150 on gifts for our almost 1-year-old.
• Now things are more expensive than 19 years ago, and we have more kids.
• I create a budget and ask for gift wish lists early in the year to determine my spending limit.

I remember my very first Christmas as a mother. We spent about $150 on our almost year old son. Toys...