I just discovered a fellow coworker has maxed her credit cards on Christmas presents. She seems to be under the impression that she is obligated to buy presents to the point that she's taking on thousands in high interest debt.

Please don't do this. Credit card debt is a finance ruiner. It's so hard to climb out of when you let it build up. It makes it so hard to build wealth when you have a bunch of credit card debt. It really is OK to tell your friends and family that you are dealing with some financial pressure this year and can't do fancy presents. If they're worth talking to, they'll totally understand. Bake some Christmas goodies or make something simple to show your loved ones you care. It'll mean more than an expensive widget anyways. If you have kids, put together what you can for them. Even if this coworker returned everything and only spent a couple hundred on their kids, the situation would be so much better.

No doubt there is pressure to spend money this time of year, but ultimately it is up to you to give in. Look at your budget and be smart about it. The presents will likely be forgotten long before your bank account recovers.

End soap box.