CHRISTMAS SHOPPING = CHRISTMAS DEBT
Christmas is the busiest retail season of the year and it is competitive on many levels.
We all know that the term Christmas has its roots in Catholicism being the time of a Mass for Christ – to celebrate the supposed birth of Jesus – but these days less and less people see it as a religious holiday but much more a secular gift giving retail free for all.
For parents, their kids are competing with other kids to have the latest gimmicks and stuff from dolls and toys to computerized gizmos. Adults also compete for gifts, they are used as signs of affection – “if you really love me you’d buy me X for Christmas“.
But where does the money come from to fund this annual adventure in consumerism? Many people spend thousands of dollars more at Christmas time than any other time of the year, very few escape with spending less than a few hundred more than at other holiday times. Credit card companies are big winners and so are many other lenders.
Some lenders offer “Christmas Stocking Loans” often up to a limit of about $5,000.00 payable over the next twelve months. But don’t worry if the payments are a bit tight the lender is anticipating that, they will call you into their branch before March break to consolidate that loan with your other credit card debts.
Shop smart this year – buy one small, personal, gift per person on your list and try to ween off all the adults, tell them in advance so you aren’t pressured by guilt to compete with what they will likely buy for you.