AN OUNCE OF PREVENTION

The Christmas season is a very special and happy time for a lot of people.  I would hope that it is so for everyone.

I am going to be a little bit of a Grinch, so let me first extend my most sincere wishes for a Merry Christmas, Happy Holiday and all other appropriate personal and cultural greetings for the time.

This is one of the times when we become most vulnerable to our emotions in terms of our spending habits.

It is a time when the peer pressures and social pressures that drive us to spend more than we can afford are the strongest.  There are even media types who suggest that we have a civic duty to spend freely because it will help the economy.

If you are running up your credit card debt, I would urge some caution.  Come New Year’s when you are faced with the overwhelming debt and buyer’s remorse, it will be too late.

I know that as parents and grandparents, husbands and wives, brothers and sisters; that we want to give to those who are special to us.  We are, if nothing else, a generous people.

Please consider the impact that this added debt will have in your personal life next year.

What will the added debt do to your progress toward achieving your American Dream?

If you and your spouse spend the next six months arguing over the finances, will your child be consoled and feel secure because they got the latest toy for Christmas?

Will the pleasure you feel Christmas morning be enough to overcome the physical stress and anguish you feel because of your debt next year?

If the bank repossesses the Lexus, will your significant other be impressed?

Diamonds may be forever, but the credit card debt may outlive your possession of them.

There are many ways to celebrate your specific holiday without destroying your personal financial health.  Many people would argue that these celebrations are far more personal and meaningful than lavish gift giving.

And if you are fortunate enough to be able to afford a lavish holiday, please stop and think about those who are not as fortunate.

There are many organizations that can help you find a needy family or two to help.  You can do it personally or anonymously.  You can participate individually or with a group.

Please extend your generosity to those who need it most.