Every year again: suddenly the advent season has come and Christmas is just around the corner. The children write their wish lists and it quickly becomes clear that the household budget or reserves are not adequately equipped for such requests.
There is a conflict here: you don’t want to disappoint your children and you may not want to admit that you can’t offer them enough material. You quickly catch yourself thinking about where you can get money for gifts at short notice and study the loan offers, which are currently popping up everywhere or ending up in the mailbox. Sparkassen in particular stand out here and openly advertise Christmas loans in order to “fulfill a wish for themselves or their loved ones”.
But stop! What do you want to offer your children? A solid household with enough healthy food and a warm apartment – or that you are personally in debt? The loan terms for a Christmas loan run at the Sparkasse, for example, up to 84 monthly installments – that’s 7 years or 7 Christmas! And with a loan amount of 10,000 USD, you pay over 150 USD per month and a total of just under 3,000 USD interest.
Get a loan to achieve your wishlist
Go through the wish list with your children and ask: Why does it have to be exactly the toy? Because everyone has it? Because it’s hip right now? Perhaps it would make more sense if the child could play with friends – or if regular game evenings were scheduled with the family? The social component is so valuable for development and cannot be replaced by anything.
You should also talk to the child about what has become of the toy from recent years. Are these just in the corner? Can they then perhaps be sold (eg via classified ads). The child then quickly realizes the loss of value and interest of the gift and has already “earned” part for the new wish. In this way, the offspring can be playfully prepared for the seriousness of life.
Our tip : Do yourself and your family a big favor: do not live beyond your means. If you don’t have enough money for Christmas gifts, this is not a shame. But it is overindebted. And the friendly bank or savings bank quickly becomes uncomfortable when there are no payments. And don’t forget: Christmas is quickly over – the debt and loan payments remain for months or even years. And with them maybe sleepless nights and even bigger financial worries.