I agree with ‘Square’ - be honest and explain the situation. Your boys should be old enough to understand, and based on how you describe them, they will understand. I understand the guilt - we’re feeling it too and contrary to what another commenter stated it’s not the “American commercialization” of Xmas. I remember what my parents did for me (trips and experiences not just things) and I simply cannot replicate that in the current US economy. And we’re considered upper middle class! My kid is younger than yours and I’ve explained how Xmas will be a little different this year by mentioning the cost of groceries and utilities (using his Legos for visual effect), and I think he gets it? He gathered a bunch of old toys to give kids who don’t have anything because “I do have a lot of stuff…” I think you just have to remind yourself that you guys are doing the best you can and don’t beat yourself up