fiscal responsibleness in wake of baby number 3 arrival

I really need to change my overly generous giving ways.

I've always been a great gift giver, even in college, when I was a broke student and only had a credit card, I'd go into debt to buy my family great gifts. Like most college kids, my parents did a horrible job of teaching me fiscal responsibility and those credit card companies just prey on kids banking on our parents and future earning potential to dig out of the debt we will inevitably get into with those cards.

Alas, this year again, as is my usual M.O. , I went overboard with the Christmas spending. This was not a good year to do this as business has been not so booming lately. Nonetheless, I tapped into unused credit cards to make sure all the people on my list were happy. And on more than one occasion, I spent more than I should have.

As I was going over the receipts this evening, I noticed that unless I really pinch or do some drastic financing or am able to successfully collect some significant receipts owed to me and my business, I will most likely be paying a hefty fee (in the form of interest charges) for this generosity.

I think what drove it home more was the fact that one particular family who was the beneficiary of my generosity and who is also under their own fiscal strain did the right thing and gave us gifts that look like they cost a modest amount. Hmmmm. I could not be mad at them b/c of the lack of reciprocity in gift value, b/c I understand well their financial position, nor could I be bitter that I've spent a lot of money on them and their kids over the year. It's not like they haven't spent a heaping amount on us in times of greater prosperity.

It was a harsh lesson that I really should listen to my husband who has always said do not spend when you do not really have.

This is especially true this year as we have another kid on the way and are looking to possibly move into a larger home.

*sigh*

lessons learned.

I need to stop being so hard headed. I guess I can take solace in knowing my heart was in the right place, but good intentions will not make me independently wealthy by age 50!

I'd still like to retire and travel after getting this brood out the house in 18 years!