New kids birthday party trend making life easier for parents

The new trend in kids birthday parties could be the best thing since sliced (fairy) bread for parents.

'Fiver' parties is the concept that instead of parents having to shop for cool but affordable gifts for their children's friends, they only have to supply one $5 note.

The birthday boy or girl then pools the money together to buy one special item, reducing clutter in the toy box or need for dealing with double ups.

And what makes the idea even better, is that psychologists say it's actually good for children.

"While a giant pile of gifts might feel like a lot of fun in the moment, a fiver party actually gives kids the opportunity to think about how to manage money," author of The Happy Kid Handbook, Katie Hurley, told Good Housekeeping.

"When kids have the chance to save up for a coveted item, they take pride in their purchase and feel confident about their ability to meet their own financial needs."

Meanwhile, researchers at the University of Toledo in Ohio, US, reported in December 2017 that kids with fewer toys had better creativity and development.

"When provided with fewer toys in the environment, toddlers engage in longer periods of play with a single toy, allowing better focus to explore and play more creatively," lead author Dr Carly Dauch wrote in the journal Infant Behaviour and Development.

While asking for cash as a gift can be a thorny topic, blog Today's Parent suggests something along the lines of: "Zoe is having a fiver party! She is saving for a [big-ticket item here] so if you choose to bring a gift, please make it a $5 [note] in a card."

And like with engagement and wedding invites, a number of samples and suggestions are available online to help parents get the wording right.