Investment Management Coach

“Christmas is the season when you buy this year’s gifts with next year’s money.” Author Unknown

Credit card debt is not my typical subject, but at this time of year we all need a friendly reminder of the shadow that may fall over our new year if we use credit cards to make our Christmas bright. 

Those darn credit cards are a persistent tug, calling our name when we open a wallet, waving for attention when we stand with furrowed brow trying to decide whether to buy now or wait for a sale.  They become the means to bring joy to those we love, or shock and awe to those we want to impress.

 But whoa, credit card debt already started increasing in October, after eight months of declining balances. (Marketwatch, “Credit-card Balances Move Higher)

Christmas buying is likely part of the reason, but the need for food and necessities in households experiencing unemployment or combining credit card balances to eliminate high interest rate cards may also be playing into the October statistics.  

 The economy needs consumers to spend, but let’s be wise during this holiday season.  My family decided to exchange names with a set dollar limit to be spent.  Faced with student loans, job uncertainties, travel costs, and families of their own, it just made sense.  For extra fun, you can invite guests to bring a $10 wrapped gift.  Each person draws a number.  #1 picks first, selects and opens a gift.  #2 picks second and can opt to open that gift or take #1’s opened gift.  Variations of this idea abound. The idea is to reduce the stress, increase the fun, and enjoy each other’s company.

 Gifts of a hug, a kiss, a plate of cookies, a compliment, a friendly smile, and the words “I love you” are priceless.  May you receive as much as you give during this Holiday Season.

 ”May Peace be your gift at Christmas and your blessing all year through!” Author Unknown