Disclaimer: Only think about spending if you're spending within your means and if you have some emergency fund stocked up.
Anyway, since spending is inevitable every December (at least for me it is!), instead of talking about saving and investing, let's talk about spending wisely instead! For starters, if you're planning of coming up with a wishlist, you can divide it into categories. A great post I found was this, and so I shamelessly

Here's a "special wishlist" I created for, who else, Yuri. I know I wanted to buy a lot of things for Yuri, but being the careful spender that I am (I kid, I kid), I wanted to prioritize Yuri's needs rather than my wants for him. Do you see the difference?
For example, let's begin with the WANTS category above. I want to create a mini-library for Yuri, which entails buying a front-facing bookshelf and a cozy lounging/reading chair.
However, aside from the fact that they cost a lot, it's not practical to buy them now for two reasons. First, Yuri is still a very young toddler with a very short attention span, and second, they would take up too much space in my parents' house.
= In other words, they are nice to have, but we can live without them.
On the other hand, for the NEEDS, I listed big, waterproof bibs, a potty-chair, and a straw cup. I need to buy Yuri large and waterproof bibs because he loves to play with his drinking water. All the time.
I also need to buy Yuri a potty-chair because for now, toilet seats are out of the question.
Finally, Yuri's sippy-cup at home is already nearing its natural death; a straw-cup would be best for his toddler needs. The simpler the better.
= The bottomline is we need them very soon.
As for the next two categories, in my opinion, WEAR is considered WANT because unless Yuri has absolutely nothing to wear already, every piece of apparel I buy is unnecessary (as Job never fails to point out).