With the recent credit crunch that's taken the global economy by storm, more families are faced with the prospect of spending Christmas on a budget. While many parents may not be looking forward to getting their children less gifts than in years before, it's important to remember that a Christmas on a budget doesn't necessarily mean a less fun holiday - in other words, you can still be frugal and spare your wallet from the ravages of holiday shopping while getting your children meaningful and fun presents that will have your family saying: ?what credit crunch??

So if you're ready for the definitive list of tips and techniques for giving your children a fun and fabulous Christmas on a budget, then read on!

1.Make a list of presents that you'd like to get for your children. It's much easier to shop on a budget when you have a predetermined list, as opposed to impulsive spending. Additionally, a list will help you to realize when you're spending impulsively, which is one of the biggest budget busters that a family can face.

2.In regards to lists, have your children make a list of toys and presents that they want for Christmas. Let them know what are reasonable requests and what are not; if your children still insist on filling their list with items that they know you can't afford, give the list back and have them modify it. This will teach your children that presents don't appear by magic; in fact, it takes effort on behalf of the entire family to have fun and budget-family Christmas. An additional bonus: you'll teach your children about the value of money and how to be fiscally responsible during the most sale-crazy time of the year.

3.Turn the Christmas season into a fun opportunity to get your kids involved in arts and crafts. Buy cheap construction paper and have your kids design special Christmas cards for family and friends. The recipients will be charmed by the homemade cards, while your kids will have a blast letting their creative sides shine through!

4.Have your children get involved in the more traditional activities that make Christmas so special. If you know of a community group that goes caroling, sign up for a night full of favorite carols. If your town does a tree-lighting ceremony, grab a thermos full of hot cocoa and watch the spectacle. It's easy to see that you don't have to spend money in order to get your children excited about Christmas!

5.Have your children help your plan and prepare the Christmas day meal. Sometimes a turkey can be too big - and expensive! - especially if your family is small; however, your children will enjoy being a part of a process that leads up to a fabulous and delicious result.

What are some of your most favorite childhood memories of Christmas? Chances are that they revolve around little things, like singing carols with friends or having your parents read you a Christmas bedtime story. Remember, your kids won't remember years from now what you did and didn't get them for Christmas; it's the special time where you and your child strengthen your bond that will stick out in their memory and be treasured for the rest of his or her life. So, start up a roaring fire in the fireplace, break out some Christmas DVDs or go outside and enjoy the first snow of the season; after all, Christmas is a season for love - and to your children, that's what matters most of all!