Do you go out of your way and go broke just to buy Christmas gifts for your family?

Question

I just don’t understand why so many people go broke trying to buy Christmas gifts. I have several friends who have kids and they break down and cry each year because they can’t afford a Playstation or the latest pair of Jordan’s for their child. They are in competition with other family members and they literally go broke trying to keep up with the Jones.

I can understand that people like to give during the holidays, and nobody wants to see their child sad during Christmas. But I really feel the true meaning of Christmas has been forgotten. It’s not about the new flat screen TV and the lastest Coach purse. Sure, we all like nice things but why do people let materialistic things control their lives? I buy gifts for my mother, brother, grandmother and maybe my father. My husband doesn’t celebrate holidays so I don’t have to worry about him. But either way, I am not going to spend bill money or lose my mind because I can’t buy them a gift. If I can I can, if I can’t I can’t.

Answer 1

I love giving gifts, but I don't go "broke" doing so -- unless you count completely depleting my Christmas savings account.

I don't understand why people try to buy gifts out of one or two paychecks -- that's a bad way to manage ones money. Even worse is maxing out ones credit cards.

Up until the early 1980s, banks used to offer "Christmas Clubs." It was basically a separate savings account, and you received a book of deposit coupons to make deposits twice per month. Since they stopped doing that, I've just kept a secondary savings account and used it the same way. When I get paid every two weeks, I put $25 in that account, so . . .

$25 X 26 paychecks = $650

If I decide that I'm going to buy someone something pricier, I'll adjust the amount deposited each time -- just a $1 increase results in an extra $26.

This really is a great and painless way to save money. And since I usually spend only about $500 at most, I take the remainder and put it in my regular savings account -- a nice little gift to myself!

Perhaps some people don't realize that you can have more than one savings account at a bank. Regardless, I highly recommend this method for budgeting your holiday shopping. Heck, I've got separate savings accounts for vacations, emergency expenses [my "rainy day" account], and of course my main savings account for retirement. Remember -- it's better to save a little over a lot of time, than save a lot over a little time.

Answer 2

Good for you, I think you're so right, the meaning of Christmas has totally been lost in a sea of corporate ads. It's no longer Jesus' birthday, it's Wal-Marts. I always feel torn at this time too, thinking "is it enough?" as though gifts=love. I couldn't imagine seeing disappointed little faces on Christmas morning so I do feel pressured to buy and buy some more. Lucky for me I have a husband that limits the spending or else I'd be in debt after this wonderful 'holiday'.

Answer 3

I guess I have done in the past, I have not decided to make a stand. And am trying to convince all my family and Friends to do the same. Get it all into perspective.

Little is more!

What is wrong with last years decorations?

How about recycling some things, its all to the good, of our pockets and the environment.

The kids normally play with the boxes and packaging at the end of the day. ONE only MAIN present, its not a shopping list inspired by endless bloody adverts on TV!!!!

Who is with me on this???

Answer 4

we pay cash, or use our debt card. And if we are in a bind, we pull money out of our savings. I know someone who bought a wii for their kid, but can't afford to buy for the 4 step kids......now that is just wrong. Not to mention all the other stuff they bought for this kid. The other 4 kids are from previous marriages and they range from 6 to 18.

Answer 5

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