Spend it forward this Christmas
If you have not guessed by now, this site has a definite Catholic bent. If you hadn't, this post will definitely prove that I do not buy into Calvinist ideas of thrift.
Even after a fall quarter with an increased growth rate, the economy at large is still sluggish as people prefer saving to spending.
As a personal strategy, some restraint is possibly a good thing - especially if one is burdened by high interest credit card debt. If one has saved enough or paid down enough to have some breathing room, however, spending NOW is more prudent.
The economy relies on spending to pay people's salaries. When these people get paid, they pay other people. Eventually, this money comes back to you in your salary. So, if you are feeling a little insecure about your job security, the best thing to do this holiday season is to spend some money. This is good for both the people you spend money on and the people you buy from.
The other reason to spend money this Christmas is because the people you buy from need the money more than you do. They are often in lower wage jobs and your decision to slightly improve your financial situation may deprive them of the ability to eat during this holiday season, or soon after.
Spending it forward has its virtues. Do it this weekend, if not sooner.