Don’t Give Yourself The Gift Of Debt

Image from moneyawarecouk

A few more weeks left before Christmas. I am certain with my excitement, I can opt to count how many days left before the holidays. There are indeed so many things to do and so many things to provide especially when this celebration is getting nearer. There are parties to go to, gifts to give, celebrations to attend, foods to cook and more. I’m sure you are already planning what gifts to give and more so the food choices you would have during Noche Buena. I also hope that you are not planning to get into debt because of the season.

More than greeting the holidays with smiles and cheers, we are also greeting it with empty wallets, no more Christmas bonuses, used 13th month pay and debt. Spending for the holidays is not really a bad move especially if your aim is to make your family and friends happy. However, if it is already at your own expense and getting into debt, you might want to rethink what Christmas really is.

Let me share my holiday debt tradition.

During December, I always see to it to provide the best presents for the family. More so, I am also giving gifts to my godchildren and my little cousins. Plus, I also tend to provide more food choices during Noche Buena. Before the school breaks for the usual Christmas holidays, I would get a loan from our school cooperative. This normally amounts to three months worth of salary and I would be paying it for an entire year. Though I have the money to spend for gifts and foods and that amount will be used for a good one month, I end up paying the loan for an entire year. A big chunk of my salary would go directly to my debts. Once it is cleared, it would already be December again. Hence, I ask for another loan. See, that just repeats each year.

Hence, instead of enjoying the holidays, I end up worrying with the amount of debts I incurred in the process. I know my family members were happy to receive the presents however if my parents knew it came from a debt, they would surely not be in favour of it. And look, I also got myself a present. That is the gift of debt.

Christmas need not be extravagant. You need not give the most expensive gift that you can provide to your family members in order to show them your love. Little things can go a long way and will be most appreciated without the need to spend for much. Since then, I value gifts that are not tangible. Instead of giving tangible ones, I extend time and help to my family members and relatives. I give them baked goods instead of the usual mugs, candles and toys. I teach them a thing or two about personal finance. Even more, I aid them to land on jobs especially online ones. And what could be more meaningful than giving gifts that could be of big help to them in the long run.

Giving gifts is good provided that it is just a pinch of your money. However, if you are sacrificing your bonuses and salaries and incur debts in the process, that is not suggested. Remember, gift giving is not a pre-requisite to Christmas and so is debt. Steer clear from the tradition that spending much is required during the holidays. In the end, it would be your finances that would suffer and it is you. So align your holiday finances accordingly and don’t go overboard with your finances. More so, don’t give yourself the gift of debt.

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