No one has ever found that getting further in debt makes their lives better.
I will go one step further: no one has ever found that going further into debt to buy things for others that they really do not need or want makes their lives better.
And, yet, that is what our government is proposing to do. The politicians are treating the country’s Treasury much like many people treat their own finances, except that we will hit rock bottom long before the politicians bankrupt the country…
After discovering the third round of stimulus checks and guaranteed income for children did not, in fact, stimulate the economy, but instead helped fuel inflation, additional shortages, and increased housing prices (please note I am not saying it caused any of these, but it did exacerbate the situation), the government is considering giving out stimulus checks to help cover the rising price of gas.
You heard that right. Stimulus checks to anyone making below a certain threshold to help with gas prices.
It does not matter if you do not have a car… or gas utilities… or anything else one might use gas or oil for.
It does not matter that a great deal of truckers, who make more than the threshold, will not be included.
It does not matter how much gas and/or oil you are actually using to farm the land or move your goods from the field to the warehouse to the store.
So, basically, the government is proposing to go further in debt to give people something they most likely do not need or want. Much like they are sending Ukraine cash instead of the planes Zelensky has repeatedly begged for. But I digress…
Now, I did see one of the proposed New York State budgets included a provision for a sales tax holiday for gas (like they do for clothes every year). THIS could be helpful. Especially if it coincides with planting and harvest times.
Do you find yourself doing something similar? Do you use credit cards to buy stuff for others, knowing that it is not the stuff, but the memories that most people treasure?
I see posts all the time asking “what do I buy the person who has everything?”. And, yes, you could buy them items that need to be replenished. But, if they “have everything”, do you not think they would rather buy what they really want?
Ask yourself “would the recipient feel as much joy in receiving this gift, knowing I spent more than I could afford?”. I bet the answer is “no”. People who love you would rather receive a free hug than knowing you spent money you did not have.
If you have been looking for permission to stop the gift giving insanity, I am here to give you my full blessing.
Instead of buying more stuff and going further in debt, think of ways you can give them memories. It may be something as simple as spending time with them. Or maybe helping out with a chore or project they cannot do themselves.
“Keeping up with the Joneses” is so Victorian. It is no longer “more is more”. In this day and age, when tiny houses, minimalism, recycling, and green initiatives are fashionable, it is okay to not buy stuff for the sake of giving a gift.
Money Moms know the true meaning of giving. They give from the heart every day in small ways, not grandiose gestures on special occasions. They know the best memories come from experiences, not things.
If you want to be a Money Mom, email me for more information on the Money Mom Academy, a self-paced program that never expires so you can keep learning all the things about money, finances, investing, and money mindset that you wish you had learned in school- on your schedule. There are weekly group zoom calls, bi-monthly 1:1 calls, and a private community. Coming soon are in-person retreats and a teen investing club. It is the fastest way to get from where you are now to where you want to be- living life on your terms and creating all those magical memories with your loved ones!