It’s that time of the year again when presents have to be bought. We have huge pressure on us to buy the things our kids and family want, to make them smile and avoid disappointment. Going away on holiday, with the rest of the world, for an expensive holiday is also top of peoples’ agenda. For those who are trying to get debt free and ensure their creditors are unable to take advantage of them, it is a tough time to be prioritising debt repayment.
The best course of action is to be modest in your giving, to scale back on presents and holiday destinations and rather spend your most valuable commodity, your time, on those you love. It’s not being stingy, it’s being sensible.
Being strong financially is far more important than being seen to be extremely generous. Remember you can be more generous later when you have settled your debt. Don’t dig a hole for yourself now by spending more than you should, don’t give way to being silly in the silly season. Encourage yourself to be careful financially – don’t play around with your future.