A word from Dr. Fred: When you are enjoying your holiday shopping spree, don't forget the plastic in your hand is borrowed money that you'll have to pay back some day.
Q: I am still doing my last minute Christmas shopping for friends and relatives and I know I've overspent. But I don't want to disappoint anyone. What should I do? ---Mary
A: On the first day of Christmas my true love gave to me a partridge in a pear tree. . ." so begins our favorite Christmas carol enthusiastically and goes all the way to the twelfth day, with a total of 78 gifts! We're expected to demonstrate our love with presents during the holiday season. Our economy also depends on our generosity, as consumer spending makes up two thirds of this country's GDP. So it's only natural that you don't want to disappoint anyone. However, too many of us often spend to the extent of hurting our own financial security, and the feeling of losing control, once taken root, could have negative effects on our lives and health. In your case, you could shorten your shopping list to cut expenses and repackage some of the gifts you've received. It may sound cheap but I know many people do it and it is the only way to give while still keeping your peace of mind. Christmas after all is about making spirits high and not about getting knee deep in debts. If your friends and relatives love you, they would rather see you happy than have piles of things under the tree that they don't need.