💰 Family finances · #124
Should we go into debt to hold a big celebration or to keep up with other people's lifestyles?
Going into debt for a lavish celebration or to match other people's lifestyles burdens your future for the sake of a passing impression. The glamour shown on social media rarely reflects the debt pressure behind it. Celebrate important occasions according to what you can truly afford; a simple but sincere celebration is more blessed. Distinguish between needs and wants, and put off wants that would have to be financed with debt. Discuss your own family's values together, not the expectations of outsiders. If you have already got into debt, draw up a repayment plan and stop spending for show. Feeling content with what you have is true wealth. See family finances.