Seems like Hanukkah and Christmas will be smaller-scale affairs for many families this year, whether or not they've been directly affected yet by the economic meltdown.

We spent half as much on our tree this year as we normally do, for example, and skipped going to The Nutcracker.

There are silver linings to this behavior, of course. It's an opportunity to assess what you really value, and to communicate that to your kids.

My colleague Julie Bykowicz is writing a story on the subject and would like to talk to some of you who are scaling back. Please give her a call at 410-332-6727 or e-mail her here.

(Photo of the Olney Theatre Center for the Arts 2003 production of The Gifts of the Magi by Stan Barouh)