Decking the halls and draining the wallets
Navigating the month of December, from decorations to vacations and gift-giving, can foster a sense of joy and togetherness, but can consequently amplify financial stress. A time of the year intended to bring people together can turn into a very sensitive and divisive time as people struggle to keep up with financial expectations. The pressure to conform to societal norms and create a perfect holiday season causes stress and overshadows the true meaning of the holidays.
Social pressures to participate in festive activities like ice-skating and Secret Santa gift exchanges create further expenses that aren't affordable for many. With a recent Bankrate survey reporting that 54% of Americans expect financial insecurity in the 2023 holiday season, spending this extra money isn’t an option. People are expected to engage in these costly activities which is unachievable for many, ultimately leading to humiliation and guilt.
This can be especially pressing for students. Many students struggle with finding a job and those who do are often kept on a minimum wage paycheck, leaving slim amounts remaining for holiday funds. Students living farther from home experience extra trouble financing their travels. In a 2023 Credit Karma survey, researchers found that 32% of American students aged 18-26 with student debt won’t be able to travel home for the holidays on top of their payments. Kamila Soto (’26) shares her experience this winter.
“I've only bought two gifts this season and now I have no money because no one will hire 15 year olds… I have to rely on my parents and I feel bad asking them to buy me gifts for all the people in my life. There’s not much I can do, everything is too expensive. It's hard being a girl with no source of income,” Soto said.
As it’s become hugely normalized to show affection through monetary items, people are unfairly left feeling guilty when they can’t afford these gifts. However, there are many alternatives to traditional holiday traditions that allow people to share sincere presents while maintaining a budget. Creating DIY decorations and homemade gifts can reduce costs without compromising the festive spirit. Buying presents from secondhand stores can offer unique items at a fraction of the price of regular retail shopping.
Ultimately, as the holiday season is upon us, it’s important to recognize financial restrictions and the true worth behind presents being its significance sentimentally, not the dollar value. Although buying expensive, luxury items for your loved ones seems tempting, it’s not necessary and shouldn’t be expected. The joy of receiving a genuine heartfelt present that makes someone feel understood and appreciated is unmatched and beats any gift with a high price tag.
“At the end of the day, gifts are from the heart. I know my friends and what they like, so even if I buy something that costs less but holds more meaning, I think they'd appreciate that more than something that’s expensive and extravagant,” Soto concluded.