Giving by not getting

Through "Project Good Gift," launched this month by the Children's Hospital of Boston as part of their Generation Cures program, a child can opt to give up one gift this year. The money that would have been spent on the gift gets donated to the hospital's research fund for curing childhood diseases, Cady says.

By giving up just one gift, the child can know that they've helped other kids around the world. They receive an e-card from the relative or family friend who made the donation, thanking them for their compassion.

Another twist on this idea: Have your family agree that everyone will give up one gift this year, and use that amount of money to buy toys or clothing for residents at a homeless shelter in your area.

Share the wealth

Make a family project out of donating outgrown toys to a local shelter. Many hospitals also take toys donations, but some accept only new ones to avoid risk of infection.

eBay's Giving Works program another easy and fun option — with parental supervision, kids can auction off an item, pledging the proceeds to their chosen charity. Or they can bid on items that are being sold to benefit a charity.

Kids love to "see what bids come in from people all over the world, and watch the price go up," says Kristin Cunningham, general manager for GivingWorks. "If they're bidding on an item with their parents, they love to see if they're going to win it in the last few moments."

Cunningham mentions one boy who built a small bench with his father, a carpenter. Photos of the boy and his dad building the bench appeared alongside the item on the site, and eBay employees were so struck by the boy's enthusiasm at giving that a bidding war broke out in the office over the bench.

Yet another way kids can give what they've already got: The Locks of Love program accepts donations of long hair (bound in a ponytail or braid) for use in making wigs and hairpieces for kids suffering from illness-induced hair loss.

Money isn’t everything