This post was written by my good friend Larry Bettag from St. Charles, Illinois. I couldn't agree with him more about not going into debt for two to three months to pay off Christmas like some people do. Teaching kids about money management is much more important. It is also important to teach about giving of one's self, not just material gifts. Words to the wise and words to live by.
My favorite gift is the gift of time - if someone says they will make the time to do something with me, that would be a much more meaningful gift than something material. Like an envelope with a gift certificate to go hiking at a certain location or to spend a day at the beach or for a picnic lunch - just wrap the envelope in pretty paper and stick a bow on it and I will be happier than with anything anyone could buy for me.
OK so Christmas is here. It's upon us. The commercialism is all over us....this year starting before Thanksgiving and with some....even prior to Halloween. Photo provided courtesy of AZ Photos. WHAT I'M ABOUT TO SAY WON'T MAKE ME POPULAR IN SOME CIRCLES.
The economy is tight. But you have friends and family who you want to or feel that you NEED TO buy presents for. I think that this is the most opportune time to cut back. Here are my reasons why.
1) Finances - we have 5 kids. I love them. Finances are good, but they ain't what they used to be. We don't borrow to buy so no VISA majors for us. Why spend what you don't have just to pay it back later?
2) Not sinking the family for 1 Christmas - I'm not going to sink a ship just so that my loved ones can receive a gift from me. I'm anything but scrooge. I'm not bragging, but people always say that I'm one of the most generous people that they know. I really think that I'm to be generous with the blessings and finances that God gave me. And I am. However, I"m not taking one in the chin so that I can spend X% of next year paying off a generous day. I have spoken to close friends and we've all agreed that no gifts are to be given this year. My kids will get gifts, but it's down about 90%. Santa will give them a few gifts and we'll just buy them one item from us.
3) Teaching your children what's right - My dad is an incredibly successful doctor. But I remember a time when he called a family meeting and said that we're cutting most of our vacations for the year. He had 5 kids in parochial grade schools and high schools and had others in private colleges. He said that it was just a necessity. All of us kids felt bad - - - not at the cut back, but that Mom and Dad had to sacrifice so much for us. It was all good, but most importantly. it was a lesson that we all learned. I won't sink the ship for one day and I'm teaching my own children how to TRULY provide financially for their future families. So much good comes out of a tight belt.
4) Not keeping up with the Jones' - I've never been one to do that. I could care less what the Jone's are doing. I care about being better than the Jones' as to teaching and providing for my family. That's really all that matters. No Jonesings going on here.
5) In the Old days- - - prior to my time. It was a great Christmas if the kids got a candy cane and a sweater or new underwear. I heard my father in law stashing cash under his bed b/c of the depression. I think that simplicity can really draw a family tighter together.
6) Retailers and the market - - - retailers want you to buy or their business will bust. I don't care. I need to save so that I can keep the business of my family alive. If I buy on plastic, I'll pay later. I'm not gambling on the ability to pay something back later. We just built a new house and closed on it 3 weeks ago. That's a huge present in and of itself. If we buy to protect the businesses, I'm afraid that we're just preventing the inevitable anyway.
Sooooooooooo....take back the gifts bought b/c of guilt. I'm transparent with my friends. "This is a tight year dude. We'll do something great once the business starts cranking again. You cool with that?" They all are or at least said that they are. I'm excited for different Christmas. I'm excited to go deeper with the true meaning of Christmas. How bout you?
Picture provided from AZphoto.com http://images.google.com/imgres?imgurl=http://www.azfotos.com/christmas/alamyphotos/christmas-presents_AJM4D6.jpg&imgrefurl=http://www.azfotos.com/christmas/christmas-pictures.htm&usg=__0dmYPifdo_GJ7h0vuir0Gx9HGIQ=&h=470&w=300&sz=45&hl=en&start=3&tbnid=f7x2N6Tb7IdA1M:&tbnh=129&tbnw=82&prev=/images%3Fq%3Dchristmas%2Bpresents%26gbv%3D2%26hl%3Den%26safe%3Dactive
