The Holiday Season is Upon Us
The last of the Halloween candy had hardly been reduced and cleared from the shelves before Christmas trimmings and gift items were seen everywhere. The mail carriers have a harried, bowed-down look as their bags now contain twice the normal load of slick catalogues.
For some of us, ‘tis the season to pile up credit card debt. Debt for many of us will hang around longer than the tinsel. Thus, our gifts keep on costing, with interest and principal weighing down on normal expenses well into spring. According to Roper, Starch and Intuit quoted in The Christian Science Monitor, Americans will spend on average more than $800 on holiday gifts.
Once we get into the habit of using credit cards for Christmas, it tends to continue, because the money you could be saving for next year is going to pay off debt. Consumer debt in this country now totals more than a trillion dollars..
However, Lawrence Chimerine, an economist who consults for MasterCard. says that much of this debt is not problem debt. The number includes higher mortgage debt, brought on by an increase in home ownership. It also reflects greater use of credit cards which are paid off in a month.
Nevertheless, lenders push hard to give credit cards to more consumers, offering incentives like cash back on purchases for using them. The average consumer received 32 pre-approved credit-card offers last year according to Richard Jones at MasterCard. Consumer groups say those offers often go to adults with poor credit records and to young people. One way to stay out of debt at Christmas is to make a budget, figuring out what is available either from savings or what’s left over after the bills are paid. Then make a list of the names of the people you are going to buy for and determine how much you are willing to spend on each person, then stick to the list. Other financial planners advise using credit cards, taking advantage of the offers of the stores to extend the grace period for repayment. That works for many people as long as they pay the balance off before the interest starts.
I have to confess that I don’t budget for Christmas giving. I often buy boring but useful shirts for the men in the family when they are on sale in January. Occasionally other items seem too good a bargain to pass up. I really am a softy when it comes to children’s books, and I buy them whenever I’m in a bookstore. I have even bought books over the Internet. It would be hard for me to estimate what we actually spend on Christmas gifts.
Another way to help with the money spending crunch is to make gifts. One of my favorites is a simple white “snow” candle. For one large candle, you need two boxes of the paraffin wax that is usually bought to seal jelly, and a wick, possibly from a partially burned candle. Use four slabs for the candle and melt the other box of wax in a small pan over a very low fire. Be careful. This is not a task for children. The wax shouldn’t smoke. Just barely soften one flat side of a slab so that It will stick to another one. Do this twice. Then make a grove for the wick and stick the previous two slabs together. You can spoon melted wax on the slabs to hold them together.
At this point the candle is a rectangular solid about 3 inches by 5 inches. Let the melted wax cool. The waiting is the hardest part. Take a fork and beat the cooled, melted wax, which is now white around the edges, until it looks like snow. Apply the “snow” to the sides of the candle and let cool. Decorate with holly. This candle glows when it burns and is a favorite with children of all ages.
Although bought pot holders are inexpensive, I often give them as gifts to each family, using old table cloths that I don’t want to iron anymore and other sewing leftovers. The only expense is tape to bind the edges. This is time consuming however, a job for listening to TV in the evenings. Place mats are also welcome gifts that can be made at home using cloth that is on hand for a middle layer before it is quilted.
Copies of old photographs enlarged and framed are gifts only a grandparent can give. Children enjoy seeing what their parents looked like when they were that age.
Whatever the reason, to avoid falling into deep debt is worth a lot. Peace of mind in a household rather than tension cannot be over valued. Consider the consequences of deep debt. Getting mail is something to dread. Letters arrive asking on the envelope, “Have you forgotten us”. Letters threatening disconnect of the phone or the electric arrive. Sometimes it is hard to think about anything other than how to make payments on overdue bills.
In this season the Gifts of the Wise Men seem to have overshadowed the gift of love that the Christ Child brought, so my wish, coming early and in time, I hope, is that our readers spend less this season, and cherish their loved ones more.
– Mary