Do you end up in 'hock' to pay for Xmas?

Question

I was raised that you DON'T GIVE MORE THAN YOU'VE GOT.

Why do people go beyond their wallet contents to pay for gifts and
What is your logic in doing this?

Answer 1

=I try not too end up in hock. Generally during the year I pick up a few things here and there when on sale especially after Christmas and save them for next year. I give my kids gift cards to a place where they want something and they go there the day after Christmas and they really do well. Happy Holidays.

Answer 2

Some of the reasons why people may go into debt during Christmastime include:

-- People have experiences of having nothing at Christmastime or anytime during their own childhood, so now that they are grown and working, they WANT to be able to see their children grow up enjoying things that they NEVER could EVER have imagined.

-- Advertisements, Sales, special offers -- oh my ... all these symbols of obvious greed everywhere as far as the eye can see. So when they go around they know with easy credit in hand (and salesclerks trained to open new accounts, loose standards for approval), they want and get themselves the latest toy (which they find out they will be paying for long after it is broken in the next 6 months....)

-- Some fall for the 'keeping up with the Smiths or Joneses or whatever' in their neighborhood ... House down the street has new Plasma TV -- I need a bigger one .. and go into debt to one-up the neighbor at this time.

-- Some are shop-o-holics, and just can't stop (addiction to shopping),

-- Some NEVER do save for their Christmas Gifts -- a little here, a little there -- and all of a sudden ... several thousand later they are into debt over their ears.

-- Some are generous to a fault (very big one) and do not want to seem stingy over the Holidays.

-- So many organizations, so many Gift Exchanges (Secret Santa programs) -- 3 or 4 or 5 or more ... all these add up when they are even for amounts of as little as $20 or less per gift.

Answer 3

I think that's very good advice. I have never gone into hock to buy Christmas gifts. What for? What's the point when you know that a lot of those gifts will be forgotten two or three months down the line. I buy a few gifts for only special relatives and friends and call it a day.

Answer 4

I have done this before. It took nearly all year to pay it off only to start again for the next year and that was an extra lean year.

Why is a good question.

I guess it's because I wanted to show people I was better off than I truly was. I let my pride take center stage and ended up only hurting those who depended on me.