A Spooky Holiday Suggestion

As we approach the major holidays we observe in our country, I think of the times that I have spent in other parts of the world during the holiday season.

There are many similarities – the emphasis on family and close friends, cooking those special holiday recipes, and gathering to celebrate religious beliefs, whatever those may be. The one major difference is the emphasis on gift giving. 

In America we and our children are bombarded for months with ads to start buying the latest and greatest, most of which is quickly discarded once the novelty wears off. And those gifts you bought for extended family members and friends are often placed in the closet or re-gifted! We simply use our credit cards not realizing the impact of paying compound interest for years.

In many other countries, gift giving is often about selecting a family member and making or buying a gift for that person. Sharing with extended family and friends has more to do with food and gathering to observe the holiday together, and nothing to do with loading up the credit cards.

Banks like it when you add holiday debt to your credit cards. The interest they earn while you spend years paying off the principal, is great for them, but will hurt your ability to buy a home next year.

Call me the Grinch, but I don’t care about the banks. I care about you being strong financially particularly in a competitive housing market. There is no question ~ additional credit card debt will affect your buying power.

So, here is my spooky holiday suggestion:  If you are planning to buy a home, which is truly a wonderful gift, give Santa a break this season!

As part of your holiday announcements tell your family and friends about your plans. They will understand the importance of being frugal this year so you have the resources necessary to purchase your home.

Let everyone in your immediate family participate in this wonderful event by making or buying something for the house. When it comes time to share presents, everyone opens their offering.

The thoughtfulness and sacrifice made by your family for the purpose of buying your next home will bring you closer to the true meaning of the holiday that you celebrate.

And who knows, you may find your holiday traditions have taken on new meaning!

How is your family preparing for the purchase of your next home?