Avoid running into financial ruin this Christmas!

[White pawn]

I’m using this medium and the opportunity to wish everyone out there on the forum a jolly and a merry Christmas.  I hope we all get to see and spend some time with loved ones, family and friends while spreading love, joy and cheer.

I also wish to remind everyone that we should spend money wisely and be very prudent. We should remember that by January of the next year, there would be a lot of bills that would need to be paid. So remember that while shopping for those items that may seem to be relevant and cool to get now but would be definitely irrelevant later on.
By January, a lot of people would probably be heading to the bank after going all out with their funds during Christmas to take loans to settle whatever bills would arise and there would be a lot that would arise!
I think money is always tight for most people in January cause they spent a whole lot of money during the Christmas period.

So while having a good time with friends, family and loved ones during this festive season, please remember that January, with all its bills is around the corner.

A very merry Christmas everyone!!!

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[Stalker22]

Well, I think it is too late for such advice now. Everyone who wanted to spend money on Christmas has already done so, since it is getting close to Christmas around the world. But hey, at least we can all learn from our mistakes and make a plan to have a more financially responsible holiday season next year!

Merry Christmas to you too!

[Ultegra134]

Now that you've mentioned it, I've caught myself falling in the "trap" of thinking it's Christmas and it's okay to spend money, thus, I ended up spending more money than I had anticipated. It's extremely easy to get carried away, I wouldn't call buying a few more gifts a mistake, unless they're completely unnecessary. I'm trying not to be overly concerned about money but it's generally good to keep track of what you're spending.

Anyway, merry Christmas to you!

[Wakate]

Well written and I wish you Merry Christmas and Happy New Year!
This is a period of love and we need to endeavour to spread the love and channel it to every persons around us to partake in the celebration of the birth of Christ. This is not the time to start spending money extravagantly because we want people to fill the impact. Even though we have enough funds to spend, we can always cut it and send some to the needed because I believe there are some persons who do not have the fund right now to foot there bills. I hope next year is going to be a great year to us all, accomplishing many we couldn't achieve this year.
I wish everyone a great year ahead!

[S A KHAIR]

Well, I think it is too late for such advice now. Everyone who wanted to spend money on Christmas has already done so, since it is getting close to Christmas around the world. But hey, at least we can all learn from our mistakes and make a plan to have a more financially responsible holiday season next year!

Merry Christmas to you too!

Christmas has come and everything is about to pass, but before us is a new year. I think OP's advice is still valid for New Year's Days. Financial advice is very useful but not so that we are afraid to spend after a year of hard work, the end of the year is when we should take some time to enjoy life with our loved ones.

[Sexylizzy2813]

Christmas spending, enjoyment of the season and coming back in January to cry over split milk is just something that's there over and over again. Is really good to make the festive season a happy one, I mean what's the reason of hustling from January to December and you have to save all you've worked for, instead of enjoying yourself, you just act like you're broke because you're avoiding January stress.

Life is too short to be letting worries take away the time we're suppose to use to celebrate with our loved ones, am not saying you should go all out spending money just because you have but what ever you're doing mate, do it with wisdom. All am saying is, spend and enjoy yourself but have a plan B.

[dothebeats]

I just dined with the family and slept afterwards. I avoided that conversation regarding cash gifts aside from presents that were wrapped under the tree. I'm sure they'll understand that my finances are very tight albeit earning quite comfortably for the past few years. Luckily I avoided gifting a lot of cash unnecessarily this year, and have kept from withdrawing a large amount just to give it away. Even though it's a once a year thing, we should still check our spending and steer away from irresponsible spending.

[Silberman]

Now that you've mentioned it, I've caught myself falling in the "trap" of thinking it's Christmas and it's okay to spend money, thus, I ended up spending more money than I had anticipated. It's extremely easy to get carried away, I wouldn't call buying a few more gifts a mistake, unless they're completely unnecessary. I'm trying not to be overly concerned about money but it's generally good to keep track of what you're spending.

Anyway, merry Christmas to you!

We are not machines and there is a lot of ads all over the place trying to make us to spend more money than what we should, so it is to be expected that it would be difficult to resist the temptation to spend our money, but as long as we do this within reason then this is not too much of a problem, still it is important to keep a strict budget for the upcoming months as the beginning of the new year is when many bills are due and it is awful to begin the year without the money needed to pay them and to have to ask for loan for something so fundamental.

[kro55]

Not only during major holidays like this but in all cases we should avoid extravagant spending, especially this year when inflation and crisis are draining our wallets, we need to save more.
This year, we also just dined with loved ones instead of giving gifts to each other like in previous years because we knew that we were all struggling financially.
But another Christmas season has come, I wish everyone a merry and happy Christmas with loved ones. And let's hope we have a more fulfilling Christmas next year. Merry Christmas.

[Upgrade00]

But hey, at least we can all learn from our mistakes and make a plan to have a more financially responsible holiday season next year!

The next Christmas holiday season is 365 days away, rather than using that to plan how to be more financially responsible, it seems better to me to plan how to achieve financial freedom at that time.
This of course does not mean that the rich or wealthy do not have to be responsible financially, they even have to be more so than the poor and middle class. But with financial freedom, comes the liberty to be able to spend a bit more, as they have a much higher profit margin.

Let us aim to be able to afford those things we could not this season. Merry Christmas to you all!!

[mk4]

Re: Avoid running into financial ruin this Christmas!

Avoid running into financial ruin. Period. Regardless if it's Christmas or whatever day/holiday. A financial catastrophe is something you definitely wouldn't want under any circumstance.

[chrisculanag]

Finances are very important and every expense needs to be carefully planned, especially this Christmas. I chose to celebrate in a simple way so that we somehow have financial resources available online and in the real world that will give us a chance to get out again especially now that we are in a pandemic.

If we are good at handling finances, we will definitely have more available for our small investments and small businesses.

[Die_empty]

Well, I think it is too late for such advice now. Everyone who wanted to spend money on Christmas has already done so, since it is getting close to Christmas around the world. But hey, at least we can all learn from our mistakes and make a plan to have a more financially responsible holiday season next year!

Merry Christmas to you too!

Christmas has come and everything is about to pass, but before us is a new year. I think OP's advice is still valid for New Year's Days. Financial advice is very useful but not so that we are afraid to spend after a year of hard work, the end of the year is when we should take some time to enjoy life with our loved ones.

The new year is coming with diverse expenses and bills to pay. School fees, house rent, car maintenance, subscription bills, etc. My family knows my financial strengths, hence they understood that I can't spend so much this Christmas because this year was very challenging. They know that we don't need to borrow or use our investment funds to celebrate this year's Christmas because we still have more Christmases to celebrate in the future. It is advisable to spend within one's means and don't try to please or compete with people when you don't have the financial means. Merry Christmas to all.

[Crypt0Gore]

Good advice but why now? It's already Xmas so someone must have already spend more than can afford for Xmas before reading this, anyway, I am a very disciplined person so I already planned my Xmas a month ago with what I can afford, most of my money is planned for investment in 2023 and nothing can shake that off. Merry Xmas 🎄 to you all

[michellee]

We can celebrate Christmas with our families; it doesn't have to be overwhelming. The important thing is that we can use Christmas well to gather with those rarely with us. Sharing in the Christmas atmosphere is very joyful and we hope that the sharing atmosphere will always be there even though Christmas is over.

We don't have to spend all our money to celebrate Christmas, especially if we have a lot of bills. We don't want to see ourselves having a hard time surviving the next month if we use up most of our money.

[Fortify]

I’m using this medium and the opportunity to wish everyone out there on the forum a jolly and a merry Christmas.  I hope we all get to see and spend some time with loved ones, family and friends while spreading love, joy and cheer.

I also wish to remind everyone that we should spend money wisely and be very prudent. We should remember that by January of the next year, there would be a lot of bills that would need to be paid. So remember that while shopping for those items that may seem to be relevant and cool to get now but would be definitely irrelevant later on.
By January, a lot of people would probably be heading to the bank after going all out with their funds during Christmas to take loans to settle whatever bills would arise and there would be a lot that would arise!
I think money is always tight for most people in January cause they spent a whole lot of money during the Christmas period.

So while having a good time with friends, family and loved ones during this festive season, please remember that January, with all its bills is around the corner.

A very merry Christmas everyone!!!

As others have said, it's a warning that came too late when you post it on Christmas eve. If bills are due and the money has already been spent then what good is it? It would probably make more sense to tell people to consider what they are doing ready for next Christmas. If you budget throughout the year, put aside a little each month then you can prevent being without. Better yet, try to improve your situation in the next year, look for new jobs or ways to boost your income, maybe sell some unnecessary junk if it has accrued in your home over time, put spare cash into a bank account that pays the highest interest and set up a proper budget to see where you can cut costs.

[mindrust]

Actually in an inflationary environment, borrowing money from the bank is a very good financial move. Especially if  the interest rates are below the inflation numbers.

The person in question is going to celebrate the new year like he did in the past years. So expecting him to change his spending behaviors is not realistic.

He will party with his friends, drink, eat, send and receive gifts etc. Since fiat money is constantly losing its buying power every day, it just makes sense to borrow money.

[irhact]

I also wish to remind everyone that we should spend money wisely and be very prudent. We should remember that by January of the next year, there would be a lot of bills that would need to be paid. So remember that while shopping for those items that may seem to be relevant and cool to get now but would be definitely irrelevant later on.

I don't do shopping every year for my decorations of my house for the Christmas, I reuse item from the previous year celebration and store them after the holiday are over. I found this to be very helpful as it save me expenses as things get costly by this time of the year. Now if there are new things I'll love to add to my design then I buy those that are reusable so I can use them for the holidays ahead.

This time of the year can be very expensive if you don't have plans. Sadly people spend so much around this time of the year that they begin to struggle when the new year starts. I wouldn't wish that for anybody but instead of over spending, why not invest during this periods as market always tends to be on a discount. Spend wisely and invest correctly that's all I can say to everyone. Merry Christmas.

[Kakmakr]

Yes.... that is very good advice... but the spirit of Xmas spending is strong with many of us...because we want to compete with the Jones's and want to kill our guilty conscious by buying gifts to people that most probably not deserve it.

I think people should be less worried about gifts and huge meals during Xmas... and just try to spend quality time with friends and family. The commercialization of Xmas is wrong..... and only retailers and businesses profit from that. 

[Rruchi man]

I’m using this medium and the opportunity to wish everyone out there on the forum a jolly and a merry Christmas. 

I was almost thinking I was not going to see any post wishing forum members a Merry Christmas Good thing someone proved me wrong.

Merry Christmas to you too OP.

Thanks for your jolly advice too about avoiding excessive expenditures, It is a regular advice always shared during the festive seasons. I think people who did not take the advice seriously last year, had their own experience the January of this year, Likewise, people who will not take this advice now will also learn their lessons in January. But as said, this advice would have been more timely, people have already squandered a lot of money that took them a while to gather.