What's Your Pocket Feeling Like Now?

Okay - so, Christmas is past, kids are happy and grateful. Or not. Most of us have either returned to work or will return on tomorrow. How is your pocket feeling?

I am wondering because I read a Reuters report that said 4 million Britons are still repaying last years Christmas debt. That is 1 in 10 Britons. I also heard a similar report on CNN regarding Americans. We continue to go into debt in November and December, and then begin to try and dig out in January and February - and are still digging the following year.

In addition to the crummy economy, Americans were spending this Christmas holiday - but not as much as the media would like us to believe. You wanna know what I base this comment on? Alley Observance. Drive down any alley in your neighborhood and I bet you will have the same report as I - not nearly as many empty boxes and overflowing big greens as last Christmas or the one before. That is the real report on Christmas spending.

But, spend we did. We still, even in this day and age, have to buy expensive material items at Christmas time to prove to our children and loved ones that we will go into debt because of our love for them. Or to prove to our neighbors that we 'got it like that'. I want my neighbors to know that they win that game. Because in January of this year and next - I want to be planning a quality time vacation with my kids in the Spring and Summer, not how I can pay 40-400% on loan shark credit cards, quick cash loans, and bank fees because I had to show my kids the newest gadget with love on December 25th.

We really have to stop playing possum at our own economic lynching party.

Yes, our economy is 2/3 dependent on consumer spending. But, believe it or not, as economist will tell you, right now, our economy is dependent on healthy consumers. So, we need to save and be economically healthy enough to spend, more than we need to spend back into debt crisis.

Here are a few phenomenon that gave me pause for thought:

Bank Fees - When a check is returned for NSF - the bank charges you one hefty fee; and then after a certain number of days, a daily fee until the account is restored to a positive balance. However, the set-up is that when you use your debit card, which is like writing an electronic check, unless you are forced to enter your pin code in the transaction, the processing is not immediate. In this way, all of the processing can be done at one time, and the order of processing is determined by the bank. This leads to a processing routine that allows the bank to push through the transactions in a manner to collect the highest number of fees from the consumer. Legal Loan Sharking.

Credit Card Fees - We know that federal regulation is already in place, and probably more is coming, to regulate credit card fees. The reason is that these fees are out of control. This is another capitalist unregulated venture that is financially raping Americans, and is part of the reason we are in the economic pit right now. Easy credit at insane rates. Legal Loan Sharking.

IRS - Right now, you are apt to recieve a letter from the IRS concerning taxes from 2-4 years ago, and a slight error you may have made in your calculation (or whomever compiled your tax return). That error could potentially cost you from a few hundred to thousands of dollars. The IRS has the right to go back and 'review' your taxes for errors and possible unreported income and then harrass you for supposed owed funds and interest on those funds, since you should have caught that error back then. This is not even legal loan sharking. This is a legal shakedown and harrasment of the American citizen.

I don't know if any of this causes you to stop and say woooah! But I think I am saving my money and using the old fashioned system of checks, check register, checks and balances, and entering that pin code at every transaction.

And as far as proving my love with material gifts in December? I have learned - and learning is a process - that I show my peoples love all year long. I told my children that Jesus was gifted thrice upon His humble arrival in a stable. He saved my life - which they cannot do - be happy about those three gifts they are allowed to request, and lets make Christmas about loving each other and giving hope to somebody else. So far, we have enjoyed that immensely.

This money thing? Let's blog about it.....