Isn’t it great waking up to cold mornings? Lately, I find it more difficult getting up in the morning because the colder temperature makes me feel like sleeping longer than I am used to. Aaah, what a wonderful feeling!

Do you start hearing familiar tunes more and more of late? Yup, those timeless Christmas tunes are back on the airwaves and, despite how many times I have heard them, I still love listening to them. I’m not ashamed to admit it, but I still love these times as much as I did when I was a young boy eons ago.

Not everyone, however, is as cheerful as I am during these times. I was having coffee with my friend when a nice Christmas tune was played, and it made me smile. But hearing the tune had an adverse effect on my friend. Instead of enjoying, he said that whenever he hears Christmas songs, he associates them with a lot of expenses. What made me smile made him frown.

Come to think of it, many adults are not too thrilled of the holidays because of too much expenses that go with it.

Why is this so? When December steps in, many of us suddenly realize that Christmas is approaching and, almost instinctively, start to be on a buying mode and, for some, begin using their credit cards more than they used to. Somehow, the environment begins to be conducive for everyone to buy gifts, and that’s where the madness sets it. Just as Christmas bonuses are released, they get expended faster than a speeding bullet, so to speak.

Here’s my take: CHRISTMAS IS NOT AN EMERGENCY!

Why do most of us feel down during the most joyful time of the year? It’s because Christmas is a very expensive period and, deep inside us, we know that many of our expenses are not really necessary. We don’t feel any post-tuition regrets after we’ve settled our educational expenses, but many of us feel post-Christmas shopping regrets after the realization of spending too much sinks in.

Christmas expenses are not necessary, and yet, nearly every one of us is guilty of overspending year after year. We have let the pressures of society dictate over common sense. We feel that gifts and festivities are obligations, but they never really are.

If Christmas expenses are not an emergency, then what are they? They are just like any other expense that needs to be planned and budgeted. Proper and logical allocation for expenses should prevail over our mindless infatuation of wanting to conform to traditions and social pressures.

Christmas expenses are not bad, but when it starts to consume your budget, it becomes a big problem. We don’t need to equate giving gifts with how we value friends and family; we also shouldn’t equate the cost of our gifts with how much we value them. I always cringe at the idea of people buying really expensive gifts because they feel that it is a testament of how much they love or like the recipient of their gifts.

Let’s all be practical and responsible. Christmas is not an excuse to start spending our hard-earned money, and it is also not a signal for us to start being extravagant. I know people who would start buying expensive clothing during these times, saying, “OK lang, Pasko naman… minsan lang ’to.”

What does Christmas have to do with splurging? The sad thing here is that we are all aware of this madness, yet we feel powerless to prevent this from consuming us. Is that the real spirit of Christmas? Why is Christmas an excuse to buy an expensive branded jeans like Zara when one can get the same quality jeans with a local brand like Bobson?  A pair of Bobson jeans (or other local brands) will cost so much less than imported brands. Why pay more just because it is Christmas?

Why is there Christmas to begin with? Isn’t it because we want to celebrate the birth of our Savior Jesus Christ? If we want to be true to the real spirit of Christmas, then let’s just be thankful that God already gave the best gift there can ever be, and all we need to do is take it. Romans 11:29 says, “For God’s gifts and his call are irrevocable.” Why do we need to burden ourselves unnecessarily?

Many of us grew up with the notion that debt is part of our lives and will always be here to stay. I even here people say that “walang mayaman na walang utang” … obviously, that’s not really true. I know many rich people and most of them have no debts, personal or business.

Here’s what Dave Ramsey says…

“Debt is not a tool!”

Myth: Deb is a tool and should be use to create prosperity.

Truth: Debt adds considerable risk, most often doesn’t bring prosperity, and isn’t used by wealthy people nearly as much as we are led to believe.

Many parents are thinking about giving their children credit cards either as an extension of their credit cards or arranging for a bank to give them one with their guarantee.  Is this a good idea? Well, not really.

Parents often think that by giving their children credit cards, they can help them become financially responsible… uhmmm, I don’t think so!

Having credit cards are often associated as a passage into adulthood, like a driver’s license, drinking alcohol legally, watching an R rated movie, etc. Sadly, none of them are in anyway related to adulthood. Credit cards, without the discipline is potentially dangerous. By giving your child a credit card, you are exposing your child into the temptation of spending money he does not have. As parents, we do not give our teenaged children alcohol so that he will learn how to control his liquor… that’s really dumb. Many ‘macho’ fathers feel that if they teach their children to drink alcohol early, their children will not feel deprived and will not go on a drinking spree. Toink! Parents who expose their children to alcohol end up having a liking to alcohol at a very early age. I should know, I was one of them. A father who introduces pornography to his teenager is a guarantee that his son will have a pornography addiction. To think that many fathers do that makes me wonder.

I believe that getting your teenager a credit card is teaching him to be financially irresponsible. Dave Ramsey (my favorite Personal Finance Coach) says “By giving a teenager a credit card, the parent, the one with supposed credibility, introduces a financially harmful substance and endorses its use, which is dumb but unfortunately normal in today’s families.” Makes perfect sense, doesn’t it?

Some parents will claim that credit cards are just for their child’s ‘emergencies’. Here’s a thought: with a credit card, they will define many things as an emergency (shopping, trips, parties, etc.). An ATM card now doubles as a debit card with the same convenience as a credit card – without the danger of getting into debt.

We all know that credit cards are dangerous. Exposing young people to a potentially dangerous thing is very unwise.  Instead of giving our kids a credit card, why don’t we teach them about budgeting and the power of delayed gratification?  If we really want our teenagers become financially responsible, let us spend ample time in educating them about the intricacies of personal finance. Let’s teach them about the value of savings and introduce them to the idea of investing.

Here’s a better idea, introduce the principles of biblical finance to your children – then, and only then can you assure that your kids will be very responsible adults, financially and in all the facets of their lives. “Only be careful, and watch yourselves closely so that you do not forget the things your eyes have seen or let them slip from your heart as long as you live. Teach them to your children and to their children after them.” (Deuteronomy 4:9, NIV).

Tired of money seminars that promises prosperity but fails to deliver practical, sensible and real financial knowledge? Attend a real money seminar, the No Nonsense Seminar on Finance on Sept. 25 at the Victory Center, Upper Level, Promenade, Greenhills. This is a program presented by the Registered Financial Planner Institute and V Cargo.