Trim the Toy Budget Without Killing the Fun

Fess up, parents: Are your kids still playing with those doodads you lovingly stuffed in their stockings last December? Does that must-have birthday gift you splurged for invoke their precious smiles anymore? Do they even know where their little sister hid the remote for that whatchamacallit that used to hold them rapt for hours? Do they even care?

Let's face it: Most parents know that the novelty of a new toy wears thin faster than I can Tweet this sentence. But how many dare add up how much they spent populating the island of dissed toys?

It doesn't matter whether your spending is a way of spoiling the grandkids, an attempt to avoid a scene at the checkout counter, or a product of succumbing to sales -- if the toy doesn't last for whatever reason, it's a waste of money. (This counts for grown-up toys, too, by the way.)

The trick is figuring out what's rad and what's a fad -- or whatever the kids say for "cool" and "what were you thinking?" these days -- before you make your purchase. To do that, wait for everyone to go to school or on a play date, and then tiptoe into your child's inner sanctum.

Reverse-Engineer Your Child's Toy Box

Survey your kids' bedrooms, the basement, and your credit card statements, and cast a critical eye on toy purchases you made in the past six to 12 months. Which toys had staying power? Which were instant duds? Which ones still get a lot of repeat play, and which ones were tossed aside after a couple of weeks? Look for commonalities: Do dolls regularly rotate in and out of play time? Do your children gravitate toward long-term projects, like putting together puzzles and building models?

This detached review helps you identify the types of toys your children enjoy for the long haul. Come the next gift-giving occasion, you'll save money and score a hit with Junior. And as an added bonus, you've identified a bunch of stuff to donate, pass along, or toss. Boo-yah for everyone!

5 Ways to Find the Perfect Playthings

I asked a friend -- a child psychologist with three tykes of her own -- how she manages to always find the perfect toy for her little ones and recommend good ones for other people's kids, too. Here's her advice:

1. Don't be swayed by marketing or by other moms and dads: Your children are individuals, and their likes and dislikes may be quite different from those of your neighbors' kids. Stick to what you know your kids like, even if well-meaning pals swear that [insert gewgaw here] will bring long-lasting glee.

2. Choose toys that are open-ended. Open-ended toys -- Legos, block sets, dolls and action figures, and art supplies -- allow your children to use their imagination in the pursuit of limitless fun. Every playtime with an open-ended toy can be an entirely different experience. So these types of toys have a much higher play value than toys that "script" the play for your child.

3. Go age-appropriate. Of course your kids are geniuses, but still, don't ignore toys' age recommendations altogether. Sometimes, the age recommendations account for what we may have forgotten: A child's developmental profile can vary across skill sets. Your children may be intellectually advanced but have fine or gross motor skills that are just right for their age. The looks of the toy may be appealing, but if their fingers aren't strong enough yet to operate the remote control, you'll end up with unhappy, frustrated kids.

4. Don't set the bar too high. Consider setting your own limits on gifts, whether it's a dollar amount you'll spend on each child or a number of gifts per child. Setting a limit will force you to approach potential purchases more critically.

5. Spend more on traditions, less on stuff. It's easy to get sucked into thinking you have to spend a lot to make your kids' birthdays or holidays wonderful. Give them something they'll really cherish: fond memories. Play your cards right, and it won't be the gifts that they'll talk about long after the event has passed, but rather the fun things you did to celebrate as a family.

Fool.com columnist Dayana Yochim fondly remembers the birthday party she had in the Ronald McDonald Room at her family's local Mickey D's.