00:00Data indicates that nearly three quarters of families plan to finance Christmas through
00:05credit options like buy now, pay later and cards.
00:09Average repayments may last almost four months and some families predict even longer.
00:15Such patterns suggest short-term festive celebrations may carry long-term financial consequences.
00:22Oh look, I always try and live within my means and I think that it's good to try and do that.
00:28I think it's easy to get carried away at Christmas because there's a lot of pressure to say we
00:31have to buy all these presents and things but I think at the end of the day our family
00:34and friends want us to be happy and healthy and not getting into debt for presents for them.
00:39No, we spend what we can.
00:40Spend what we can, yeah.
00:43Sometimes more than we can.
00:46But we don't ever do credit.
00:47If you don't mind me asking, do you ever find yourself putting it onto credit or do you
00:51always just use what you know that is in your account?
00:55What's in the account?
00:56In the account.
00:57Yeah, I don't go on credit much.
01:00It's just the term that we should be constantly questioning ourselves.
01:04Number one, is it the good thing to do?
01:05And it is the good thing to do, to be giving to other people.
01:08It is the good thing to be doing, to be wanting to be caring about other people.
01:13Then we have to go ask ourselves another question, is it the rational thing to do?
01:17Because that is a very, very important question we should be constantly asking ourselves.
01:23Is it the rational thing to do?
01:24At times we can fall into moments of very irrationality and we completely forget that
01:31question, which is fine.
01:32But that is a question that we should be asking ourselves.
01:35Is it rational?
01:36Certainly not.
01:36I wouldn't go into debt for Christmas.
01:39But saying that, I'm past working age.
01:42I've got savings.
01:44I've got pension.
01:45I'm comfortable.
01:46So yeah, I wouldn't go into debt, no.
01:49No need.
01:50Would you go into debt?
01:51No.
01:52No.
01:53Why not?
01:54I just wouldn't.
01:55No, no.
01:56You can't spend what you haven't got.
01:57Can't spend what you haven't got.
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