Is buying expensive gifts for children worth it?

With Christmas Day fast approaching, children are eagerly awaiting the moment they can rip open their gifts. While they may or may not know what they are getting, very few care about the price.

However, that won't stop many parents from breaking the bank to get their kids the very best. When it comes to Christmas gift ideas for kids, it is worth every penny to see the smiles on their faces.

However, how much is too much? Actress Halle Bailey and her former partner, rapper DDG, are in the news after celebrating their son Halo's first birthday on December 22.

DDG shocked his fans by revealing that he had bought a brand-new red Ferrari for one-year-old Halo.

In the land of Celebville, where kids get gifted R133,000 Birkin bags and private islands, that is perfectly normal, but it begs the question, is buying expensive presents for children worth it?

Social media users had mixed reactions to DDG's gift, with some saying it is over the top.

"[What is] the baby going to do with this? Just say you bought yourself a gift for your baby's birthday," one Instagram user wrote.

Another commented: "This is the dumbest thing I've ever seen! Land, a business, real estate property - none of those was available?" A third added: "That thing is gonna be a piece of scrap metal by the time Halo’s old enough to drive it."

However, some said DDG can do whatever he wants to with his money.

"You guys wanna say something with someone’s money? You wanna tell him how to spend his hard-earned money again? You people are so funny."

ALSO READ: Cardi B buys 5-year-old daughter a bag worth nearly R400,000

ALSO READ: Could this umbrella be the perfect Xmas gift?

While it hardly seems appropriate to tell people what they should do with their money, there are pros and cons to buying expensive gifts for children.

On the plus side, buying your child what they want, regardless of the price, will make them the happiest kid on the planet come Christmas morning.

It also gives some parents a sense of accomplishment as they probably didn't get the presents they wanted when they were children. Giving their children the things they couldn't have growing up is a source of great happiness for adults.

On the flip side, splashing out on expensive gifts for children could cause problems in the future. Parents could be setting unrealistic expectations that they might be unable to keep up with every year.

Children might even develop a sense of entitlement, with some even looking down on cheaper gifts.

Whether you are on a budget or have thousands to spare, it is important to teach your children the true meaning of the festive season.

Gift-giving is part of Christmas cheer, but giving back and being grateful is far more important!