This Christmas a decision between ‘want’ and ‘need’

If you haven't started Christmas shopping yet, take the time do a little soul-searching. Believe me, it’ll pay dividends.

I’ll be honest; it’s scary out there right now. Money’s tight and key industries are suddenly admitting to the world they’ve exhausted their resources and need a handout. That in itself should send a clear message and indicate to all of us just how far off the track the train has gone, and right under our noses, too.

While the execs have received multi-million dollar bonuses and take private jets for example to meet with politicians, the well has been allowed to run dry with no ‘plan B’ in place. If it sounds irresponsible, you’ve got good ears.

We all have bills to pay and folks I know work hard to live within their means. We should expect as much from those in positions of power, be it political representatives, investment bankers or captains of industry who govern thousands of employees. One by one, major economic drivers have faltered, due largely to hubris and a lack of foresight, and there’s no question consumers worldwide will be asked to shoulder the load. Indeed, those who have brought the economy to the brink have no other option. Their resources are tapped and the only means to float the economic boat is to take their troubles to the taxpayer. I don’t know about you, but that really ticks me off, having to pay for someone else’s screw-up.

But what does this have to do with the holiday season and soul-searching? Plenty. More this year than in recent memory, I suspect a great many consumers will make a strong distinction between ‘want’ and ‘need’ when shopping for Christmas.

We’ve seen a ton of retail sector development recently and that’s huge for those seeking employment in the region, so we have a major plus working for us. But it’s tricky, too, because consumers will be discriminating this year and watch their pennies closely while struggling not to be affected by everything that’s happening in the wider world.

Parking lots locally have been pretty packed so far and the addition of The Home Depot in New Minas, as an example, will be additional incentive for buyers to frequent the area’s shopping destinations. Still, the question lingers: how should I buy? Based on want or need?

My guess is most folks will choose the latter. The kids may want a new toy or gadget, but if they need snowpants and warm boots, the question becomes academic. If your spouse would absolutely love a new outfit, but insurance is due in January and heating costs are through the roof, a smaller token of affection could be in order. It’s short-term pain for long-term gain as we ride the economic rollercoaster we’re on right now.

I’m not saying people won’t hit the malls and shops this holiday season. Evidence to the contrary abounds! What I am suggesting, however, is it will happen with a reasonable measure of fiscal discrimination. When every dollar counts and the world is so uncertain, it’s wise to take stock of what you have and what you need as we inch ever-closer to Christmas Day.

That kind of responsibility, my friends, could turn out to be the greatest and most wonderful gift you can give yourself and your loved ones this holiday season.