Christmas time brings different emotions for different people. One thing I noticed around the holidays is people feel unhealthy pressure to give gifts. This pressure can cause people to make bad financial decisions, like payday loans and maxing out credit cards. Christmas & Loans, is it worth it?

Although some of us, including me, see Christmas as the celebration of Christ Birthday, it gets swiftly overshadowed by spending tons of money, which most of us don't have, on gifts. We focus more on the temporary excitement rather than the long term reward both spiritually and financially.

It's reasonable to want to give love ones gifts for Christmas, but if you can't this year, don't borrow money! Borrowing money you don't have for almost anything, especially "stuff" that goes down in value (most things), is financial suicide. Since Christmas & Loans is a bad marriage, what needs to change for next year?

First, if you can't give Christmas gifts this year you just can't, there is no shame in that. Your family will be okay, probably in a better financial state, if Christmas gifts are skipped a year. 

Second start preparing now for next years Christmas. If you set aside let's say, $20.00 per month between now and  next November you'd have $220 to spend next December for Christmas with no debt. From $0 this Christmas to $220 next Christmas is a big jump.

Finally, remember what Christmas is about to you and your family. Gifts are good, but they're not the main focus of Christmas. If they are consider double checking your values. Instead of Christmas & Loans, let's focus on Christmas & Love for your family, including its financial future.

Picture Credit: here &  here