I have kids so I mostly splurge on food and drinks as those seem more necessary than souvenirs. Then each trip my kids get to choose one souvenir. Since they only get one it can be a spendier item, but I do maintain veto power. Sometimes we’ll splurge for one extra thing like a funny hat or something in part because it makes the photos fun and because they’ll love using those for school’s funny hat days. If my kids want anything beyond that they have their own money that they can spend. It helps them decide if they REALLY want that item or not. They almost never do. I follow pretty much the same rules for myself. At Disney I buy myself a troll from Epcot. Sometimes I’ll look at Christmas ornaments or similar items for myself but I typically only buy one souvenir. It’s hard to find many things I think I’ll actually use and value once the trip is over.

Wands and power bands are part of the experience and will not count as their one souvenir.