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Written by Atty. Eugene Kelley
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Friday, 03 December 2010 15:56 |
 We have too much debt at every level, from our country as a whole right down to our communities and families. The whole topic has become pretty overwhelming. We are inundated with daily news reports on how bad things are. Unemployment rises. Foreclosures are everywhere. Each threatens our prosperity and way of life.
Still, the days and weeks pass, the world still spins, and the seasons come and go. As we always do, Americans keep on working hard and doing what it takes to get by, which includes giving our families a nice traditional Christmas. Unfortunately, that tradition has become somewhat distorted.
In fact, for many people, Christmas can look and feel like a financial tornado. For those in financial distress, heading into the holidays is like looking down the barrel of a shotgun. There is a tremendous pressure placed on people to spend, to achieve the holiday ideal marketed relentlessly to the American consumer. Every November we see images of people lining up in the dark morning outside of large square cinder block structures to be the first to buy this year’s “must have” made-in-China item. These are paid for with credit cards which, almost invariably, will bear interest at upwards of 25%. When bills come due in January, the wisdom and necessity of the purchases at best look doubtful and at worst induce financial panic.
Is there any way to avoid this process? Is it possible to imagine a holiday season without all the shopping and activity, mostly mindless, that consumes us?
A return to simplicity sounds inviting, but just how difficult would it be to achieve? It depends on perspective. The truth is, we spend far more than money in this life. Time is without question the most valuable of all of our possessions. To spend it with our families is to give the most valuable of all gifts. A child is likely to remember forever a hike in the winter woods or a bonfire in a December snowstorm, while an extra toy or a sweater will be forgotten in a few short days.
Keeping it simple can prevent the holidays from becoming a personal economic disaster. This is not a novel concept.
Better a dry morsel with quiet, than a house full of feasting with strife. Proverbs 17.1
Did ancient people use credit cards?
Maybe not, but the lesson remains the same. Leave the plastic at home and use only cash for the purchase of Christmas gifts. Using only the funds you have available is far preferable to inviting a financial panic in late January when the holidays are just a distant memory.
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