Avoid running into financial ruin this Christmas! - page 4.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: arwin100 on December 27, 2022, 05:47:43 PM

If you have money to use then why not? Christmas is once a year celebration and you can make it as a gift for yourself also to your family to give the best Christmas to them. But If you don't have any spare money then settle down and don't lend anything just to show off that you have good christmas this year because for sure you will suffer with paying debts with interest for long months.

I tip for Christmas.

My bakery
My haircutter
My garbage man
My mail man
MY Fedex driver
My UPS driver

The live in health aid for my brother-in-law

I gave one gift to family my brother-in-law got a coat.

All told maybe $500 given out.

My wife and I do not exchange gifts. But we do buy some cake and make a very nice meal.

Iroh

sr. member

Activity: 742

Merit: 275

Quote from: Gyfts on December 30, 2022, 03:31:32 PM

The problem being is that most people don't look further ahead than the Christmas holiday. Sure, they might be able to afford Christmas shopping at the moment -- do they consider the possibility of losing their job in the coming months due to economic turmoil leaving a house/car payment without stable income? People spend without thinking about the future and it's especially true during the holidays.

Sure, most people tend to forget that after all the festivities, normalcy would return and that includes loads of bills to pay, debts that would need servicing and mortgage payments.
I think some being very optimistic and jolly, delve fully into the joyous mood and forget for a moment the harsh reality that anything from losing their job to unexpected expenses popping up later on could happen. And most times, people end up falling back to the bank to borrow money at exorbitant interest rates to settle their financial woes.

cryptomaniac_xxx

hero member

Activity: 1344

Merit: 540

Quote from: n0ne on December 29, 2022, 06:03:46 PM

Having an futuristic view is always must. It is not with the upcoming month bills, but with each and every activity we need to follow the plan of spending based on what all expense we're supposed to make in the upcoming month. This will help us with better learning and avoid unwanted expenses that saves good fund when the same process is being followed long-term.

I think it comes with experience too and maturity, maybe when we are young, we tend to not care about our future and probably just shopping around this Christmas. But as we gets older, we tend to be wiser and look for the long term and probably learn a two about investing and others and not throw money in holiday, not excessively.

And I do agree, I don't get the idea of people running to take a loan in banks to settle their holiday debts? specially the scenario that we are in? Yes we can celebrate Christmas and New Year with what we have and not to overextend because next year could be worst as well.

Gyfts

legendary

Activity: 2828

Merit: 1515

Quote from: White pawn on December 24, 2022, 05:17:35 PM

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 was surprised to learn how many people will take on loans to afford holiday expenses negatively impacting their credit for the sake of a few holiday gifts. It's not worth paying interest on a loan for non-essential items.

Quote from: arwin100 on December 27, 2022, 05:47:43 PM

If you have money to use then why not? Christmas is once a year celebration and you can make it as a gift for yourself also to your family to give the best Christmas to them. But If you don't have any spare money then settle down and don't lend anything just to show off that you have good christmas this year because for sure you will suffer with paying debts with interest for long months.

The problem being is that most people don't look further ahead than the Christmas holiday. Sure, they might be able to afford Christmas shopping at the moment -- do they consider the possibility of losing their job in the coming months due to economic turmoil leaving a house/car payment without stable income? People spend without thinking about the future and it's especially true during the holidays.

n0ne

hero member

Activity: 2618

Merit: 548

DGbet.fun - Crypto Sportsbook

Having an futuristic view is always must. It is not with the upcoming month bills, but with each and every activity we need to follow the plan of spending based on what all expense we're supposed to make in the upcoming month. This will help us with better learning and avoid unwanted expenses that saves good fund when the same process is being followed long-term.

Iroh

sr. member

Activity: 742

Merit: 275

Quote from: rby on December 28, 2022, 08:45:45 AM

Quote from: Stalker22 on December 24, 2022, 05:34:55 PM

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!

Very late. I am seeing this post today being 28th and I have already spent alot. But whatever Op said in the post is correct and should be followed going forward.
I discovered that this period comes with alot of expenses, both necessary and unnecessary ones.
Then the month of January user to be longer than other months and there used to be less money in circulation because people will start to hoard money and begin make fresh calculations for the upper year.

I think it’s never too late and besides, it’s better late than never right?
The OP created this thread on the 24th and you seeing it on the 28th and having spent a whole lot already is no fault of anyone but yourself. The month of January is no doubt a busy month filled with bills and preparations and plans for a variety of things. And for a lot of families, after spending a considerable amount of money during the festive period, money would be real tight.

I think a better topic head should be to avoid falling into financial ruin ever cause of reckless spending. Cause someone could run into financial ruin at any time and not just during the Christmas holidays.

Stalker22

legendary

Activity: 1526

Merit: 1359

Quote from: hyudien on December 29, 2022, 03:15:54 AM

Quote from: Silberman on December 28, 2022, 10:17:11 PM

~

You're right, it's never too late to keep starting over after all the spending he's spent on. Because celebrations to seek pleasure need to be done but with sufficient portions. If it's already done, let it pass, and in the future what needs to be done is to always control finances by minimizing waste. There are still many holidays to come, if you only spend them for one day it will be quite difficult to manage your finances the next day.

I agree. It is always a good idea to keep an eye on our finances, especially during the holiday season when it's so easy to get carried away with all the celebrations and gift-giving. I do not know about you, but I find that the holidays are a time when my spending can get out of control. There are parties and events to attend, gifts to buy and wrap, food to prepare and share, and it is very easy to go over budget! But as you pointed out, moderation is key. After all, there are plenty more holidays to come, and we do not want to start the new year feeling financially stressed.

hyudien

hero member

Activity: 2156

Merit: 605

Leading Crypto Sports Betting & Casino Platform

Quote from: Silberman on December 28, 2022, 10:17:11 PM

Quote from: rby on December 28, 2022, 08:45:45 AM

Very late. I am seeing this post today being 28th and I have already spent alot. But whatever Op said in the post is correct and should be followed going forward.
I discovered that this period comes with alot of expenses, both necessary and unnecessary ones.
Then the month of January user to be longer than other months and there used to be less money in circulation because people will start to hoard money and begin make fresh calculations for the upper year.

It is never too late, after all it is not like this is going to be the last holidays that you are going to celebrate, so even if you cannot really implement the advice being given on the OP now, you could always do it during the next holiday season, and taking into account that the economy is probably not going to recover as much as we want during the next year either then it is important to keep an eye on our finances so we are always ready to take action if we get to see another economic downturn.

You're right, it's never too late to keep starting over after all the spending he's spent on. Because celebrations to seek pleasure need to be done but with sufficient portions. If it's already done, let it pass, and in the future what needs to be done is to always control finances by minimizing waste. There are still many holidays to come, if you only spend them for one day it will be quite difficult to manage your finances the next day.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: rby on December 28, 2022, 08:45:45 AM

Quote from: Stalker22 on December 24, 2022, 05:34:55 PM

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!

Very late. I am seeing this post today being 28th and I have already spent alot. But whatever Op said in the post is correct and should be followed going forward.
I discovered that this period comes with alot of expenses, both necessary and unnecessary ones.
Then the month of January user to be longer than other months and there used to be less money in circulation because people will start to hoard money and begin make fresh calculations for the upper year.

It is never too late, after all it is not like this is going to be the last holidays that you are going to celebrate, so even if you cannot really implement the advice being given on the OP now, you could always do it during the next holiday season, and taking into account that the economy is probably not going to recover as much as we want during the next year either then it is important to keep an eye on our finances so we are always ready to take action if we get to see another economic downturn.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: rby on December 28, 2022, 08:45:45 AM

Quote from: Stalker22 on December 24, 2022, 05:34:55 PM

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!

Very late. I am seeing this post today being 28th and I have already spent alot. But whatever Op said in the post is correct and should be followed going forward.
I discovered that this period comes with alot of expenses, both necessary and unnecessary ones.
Then the month of January user to be longer than other months and there used to be less money in circulation because people will start to hoard money and begin make fresh calculations for the upper year.

New year and New month then its an another start for us to gather and save up money on what we have spent for this festive season.Its true and i do agree on what the rest been saying that we are all saving up for
this season on which we cant really avoid not to spend up that much.There would really be those unnecessary or unexpected spending which it would really go beyond your budget or money which
simply means that you would need to patch it up into your next earning or salary.yes, its sad but as long it does give out that contentment and happiness since those things are been
given into your loved ones and relatives then it wasnt really that bad at all.

Ben Barubal

member

Activity: 560

Merit: 17

Eloncoin.org - Mars, here we come!

Quote from: White pawn on December 24, 2022, 05:17:35 PM

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!!!

I think it's a habit of most people who believe in Christmas, the kind who don't mind having debt as long as they don't lose everything on Christmas day, and while January isn't here yet they don't think about it because of the bills next year.

And to be paid, the debtors will borrow from other people again, there is no endless debt repayment fee. But of course, if you can, don't borrow as much as you can, then don't do it at all.

Merry Christmas and happy new year to everyone Wink

rby

hero member

Activity: 742

Merit: 611

Brotherhood is love

Quote from: Stalker22 on December 24, 2022, 05:34:55 PM

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!

Very late. I am seeing this post today being 28th and I have already spent alot. But whatever Op said in the post is correct and should be followed going forward.
I discovered that this period comes with alot of expenses, both necessary and unnecessary ones.
Then the month of January user to be longer than other months and there used to be less money in circulation because people will start to hoard money and begin make fresh calculations for the upper year.

Wildwest

sr. member

Activity: 1701

Merit: 308

Maybe this is just a warning to the underprivileged, and those who have enough money and all the finances are very good then Christmas is a day where they squander money to enjoy the very special day, then only a few people do limit their expenses because for the coming year there are still many more important things for them to fulfill, And for this year hopefully we can enjoy perfectly.

btc_angela

hero member

Activity: 2660

Merit: 551

Yes it's a good advise though, personally I have said for this worst situation because next year:

1. I will have to settle for the kids school, I paid half in the beginning, so we have a meeting in the school before Christmas and promise to pay the other half in January (I already have the money), and then continue to save for my children college after that.

2. Credit cards, yeah, this holiday for sure there will be shopping spree, but I will advise everyone to used cash and not their cc as not to put you in bad debt because of uncontrollable shopping.

Chrlie95

newbie

Activity: 35

Merit: 0

Quote from: Wakate on December 24, 2022, 06:26:26 PM

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 bought several charity donations gift cards for my beloved ones. You made an excellent point. If Christmas means sharing love, this suits mosts to the situation in my opinion.

hyudien

hero member

Activity: 2156

Merit: 605

Leading Crypto Sports Betting & Casino Platform

Quote from: tygeade on December 27, 2022, 10:30:25 AM

Honestly, I haven't spent "that" much on Christmas, I just spent good enough, like some gifts, small gifts at those and some food and wine and so forth which were all come to like $200 at most and that's it. If that is a lot then it is a lot and I don't care, because I have very few days when I can celebrate with the group of people I love, and that didn't really disrupted my finance a lot neither.

Sure I have to postpone one of my debts just one month further but that's really not a big deal if you consider everything together, it is still a fine situation. I have to say time and moments are a lot more valuable than money, because you can get the money back, you can't get the time back.

I really agree with your words, it seems that it is not an excessive expenditure. Because you have done it carefully to make people around him happy. Money can be found again later but the happiness you create must mean a lot right? $200 to make the people around you feel good, doesn't matter at face value but that's the atmosphere you have to create. Every year there are still many people who cannot meet because of work matters outside the city, but those of us who can still visit them deserve to be celebrated together.

Iroh

sr. member

Activity: 742

Merit: 275

Quote from: Vaskiy on December 26, 2022, 05:38:35 PM

Online shopping could increase the spending with majority of the users. Maybe little would be exceptional to spend little shopping online. Making someone to shop for us could lower the spending, because we just list out the need and our requirements will be bought. Spending excessive is big problem considering the ongoing economic downturn. For a long we're supposed to limit our spending and this is particularly for the upper middle class and the poor ones.

I must admit, for some, doing your online shopping isn’t always ideal. Some folks like to see and feel and somewhat inspect whatever they’re purchasing.
Shopping online could make an unrestrained person spend more than necessary as you use minimal effort in shopping. You could see things you never bargained for and would click away adding irrelevant things to your cart. I think having some sort of discipline when spending money is valuable.
And yes, giving someone a list and having them shop for you would help limit or curb our excessive spending habits.

Stedsm

legendary

Activity: 3052

Merit: 1273

The rich are not going to suffer from all this, those who will suffer are the ones who come under the middle class and lower class category. And mostly, people who invested heavily in crypto last year and even this year thinking of a quick recovery but are down a lot in their portfolio, should not spend blindly because if they break their investments to do that, then all the wait won't be worth it. I've seen some pattern on the chart and it says that we'll see a bull rally most probably in 2025-26 because we have been thrown back in time after all the mess that took place this year. Stay calm, and remember to keep your investments intact. I mean, if you've invested somewhere, just forget about it and try to find some other sources for your expenses (even if they are regarding celebrations of a festival).

Davian144

hero member

Activity: 2576

Merit: 579

Quote from: Merit.s on December 27, 2022, 12:28:20 PM

Shhh...I didn't come across this topic all these while and I have already fallen into the trap,it isn't too late for me,I was thinking of making some more expenses for new year preparation but I will not anymore,as women we are always buying things that we don't really need just for show off. Good advice OP,thanks for saving me from more expenses that is not really important.

Actually what can save you from buying unnecessary things is you yourself, not the OP or anyone else. Because other people are only able to give the best advice according to their own version, while you are the one who must decide to stop or continue the habits that you often do. So what saves you in any case is yourself, not someone else. After all, not everyone is also willing to listen to suggestions from other people even though it seems important to be considered by himself.

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: arwin100 on December 27, 2022, 05:47:43 PM

If you have money to use then why not? Christmas is once a year celebration and you can make it as a gift for yourself also to your family to give the best Christmas to them. But If you don't have any spare money then settle down and don't lend anything just to show off that you have good christmas this year because for sure you will suffer with paying debts with interest for long months.

Yes, there are people who had saved up for this particular season of every year on which they are saving up and would tend to spend it all once this moment arrives.Yes, its only once a year happening which it is

really just understandable that people would really be having that lavish kind of behavior when in speaking into their spending habits on this particular season.There are indeed times which you cant really be
able to control but of course it would be important that everything should be in control or else you would be spending on things which arent really that much needed or necessary.

Only make out some priority into those loved ones when we do speak about gifting or presents.

Topic: Avoid running into financial ruin this Christmas! - page 4. (Read 1188 times)