In a thought-provoking and well-timed book about the Holiday season and the traditions of giving gifts, economist Joel Waldfogel makes an impassioned argument against the giving of gifts for the holiday season in his appropriately titled book ?Scroogenomics: Why you shouldn?t buy gifts for the holidays?.
A main argument is that most gifts are not appreciated to the extent that the giver intended and most receivers of gifts would have rather had something else that they could have purchased on their own with a gift card or cash. Gift giving is a complete waste of at least 20% of the money spent and this money could better be used in college funds, savings accounts and so forth.
Or you could just send a contribution of the money you would have spent to your favorite charity.
Sure, I can see the theory of how that works, but in real life we all expect Santa Claus and everything he stands for!
What do you think? Christmas Saving or Christmas Shopping?