Ebenezer, not McDuck
(NOTE: Read the bottom of the post. We’re submitting this in a GoBankingRates.com contest. Details here.)
You want to show your loved ones how much you care? Get them the perfectly accessible, never unfashionable, easy-to-find gift.
Nothing.
Last I checked, we were in the worst recession in several generations – one spawned by a chronic reluctance to save and spend judiciously, on the part of both us and the officials we elect to spend our money.
Do you have enough to take care of yourself, without worrying about going into debt? Are you carrying a zero balance on your credit card(s)? If the honest answers are anything other than two resoundingly loud yesses, then you shouldn’t be buying gifts anyway.
Wow, what a killjoy. Don’t you understand that giving is the very meaning of Christmas, regardless of how much money you have?
Look, Mr. and Mrs. American consumer: the meaning of Christmas is commemorating the birth of Christ, but that’s beside the point. When your kids rip the wrapping paper off a new 320 GB PlayStation 3, and the smiles on their acquisitive little faces light up the living room, try to remember that that warm feeling you’re experiencing is inexorably linked to the $350 that you just added to your four- or five-digit credit card balance – and is now going to be costing you prohibitive interest.
Discretionary spending is for the people who can afford it. Which, by any measure, doesn’t include that many of us this year. For the rest of us, the best you can give your family and friends is to take active steps away from privation and in the direction of affluence. Buying stuff you wouldn’t ordinarily buy, especially for other people, won’t get it done.
You can rationalize all you want. Here are some paint-by-numbers rationalizations to get you started:
-Sorry, I’m not a heartless monster.
(Good, your kids can fashion a lean-to out of the PS3 box after the mean old lender finally forecloses on the house you bought with an interest-only mortgage, and couldn’t make payments on because you were too busy financing toys.)
-Spending money helps the economy.
(They why not take out a second mortgage while you’re at it, and use it to pick up a couple of snowmobiles? The liquidity of money is something for rich people to worry about, not you.)
-Other people will buy me gifts, and I’m obligated to return the favor.
(Thus proving that you don’t really buy that bromide about “the spirit of giving”. If people are giving you things, great. Let the givers enjoy their giving – if they really do enjoy it for its own sake, they won’t want nor expect anything in return.)
Merry Christmas!
Today’s post is part of the Go Banking Rates “Holidays and Money” writing project. It’s supposed to encourage creative writing among personal finance bloggers, on a particular subject.
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Haha. While I don’t recommend giving nothing (there are plenty of gifts both tangible and non-tangible that can be given without spending significant amounts of money), I also think that people shouldn’t be digging themselves into more debt just because they’re expected to spend a lot of money during the holidays. This one’s going in my “challenging the status quo” roundup.
I am one of those people who wince every time I go shopping between Halloween and Christmas Day. The true meaning of Christmas has been completely hijacked by those who choose to over-commercialize the holiday. Unfortunately, it’s probably way too late to ask for just a little moderation from the marketers now.
Best,
Len
Len Penzo dot Com
I can definitely appreciate where you’re going with this. If someone is not in a good financial position, he or she shouldn’t be buying things that are not affordable – gifts or not.
People need to be brutally honest about their financial situation. The reality is, most people don’t get it or don’t want to get it. If they did actually realize where they are at financially, their expectations of gift-giving and receiving would be drastically different.
For those people, which probably represents most, gift-giving should be minor and inexpensive. That can be difficult for many, as family traditions often eschew common sense, but the cycle needs to be stopped at some pont.
I suggest that people become realistic about their finances, understand their income and expenses, and work to mazimize that gap. Then, one can determine how much can be spent on gifts. Let one’s means decide how much is spent, NOT spend first and worry about it later. Also, don’t let others’ expectations push you to deviate from what’s responsible. It’s your life, not theirs. Generosity and holiday spirit isn’t necessarily measured by shelling out money anyway.
@Squirrelers:
Dang. You share our sentiment, only you did it far more succinctly. This Christmas, we’re taking literally the line about “your presence is present enough.”
I agree…I’m single & live a frugal lifestyle…got laid-off 4-5 times in my working career.
…I did NOT give presents to my niece/nephews when they were little cuz they break the plastic toys & throw them away soon after the holidays…..Later I had massive gains in the market & gave each (all five) $1,000- to help pay for their college…..Also $500- each to start an IRA…….Both my sisters have nice homes & crammed w/ furniture & I do not give them presents……But last Christmas I gave each (two) sisters a $1,000- check to celebrate another BIG win !! I told them this was to be a source of RESERVE CASH in case the banks or internet had any problems……I think this Yr I’ll give each 2 oz of gold…..Yes, I made money again last Yr….I belong to a very wealthy church & give modestly to them…..I give much more to help feed the hungry & also to Smile Train as I love the idea of helping a kid I’ll never see….Honestly I wish I could GIVE MORE to them !!
Sorry to make this so long….but I’m a very frugal person & don’t go out much….dinner out only 4-5 times ea Yr…….MA