This year, there may be another reason behind a lot of gift giving: guilt.
This dynamic is called guilt giving.
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You dont actually know thats why youre spending more than you usually would, she said.
Its more like, It would feel good to me if I buy you something extra special.
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The extra spending may seem small in comparison, but Henderson says it can end up costing a lot.
And you go a month and you cant make the payment so you start paying interest.
Interest can be crippling for a lot of people.
The holidays are kind of like this, Im just going to blow it.
But its a mentality that can have serious consequences.
It just kind of turns into this downward spiral, he said.
How to Avoid Guilt Giving
How do you balance both your budget and your giving spirit?
You just need to understand what youre capable of doing this year within your limits, he said.
Within a relationship, theres a history of gift giving, Summers said.
Being aware of your own motivations is the key to avoiding guilt gifting.
What am I looking for?
Summers says to ask yourself.
Summers also reminds us that gift giving this year can serve another purpose.
Maybe its not always based in guilt, she said.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
