I think one of the biggest reasons that people use to spend a lot of money during this time is that the event happens only once a year. Therefore, whether it’s buying a gift or say dining out at a restaurant people then splurge. I was just thinking though how during this month’s period it seemed like there were so many of those types of days that one could easily spend their day’s worth of pay in an hour type of scenario.
For example, there is Christmas Eve and then Christmas Day. Follow that shortly by New Years Eve and then New Years day. Mix that in if you have people’s birthdays or other events like a wedding it will seem like every week there will be a spend like crazy day. For this reason I never had the mentality of it’s only once a year thing so I may as well just spend a lot on the spot as I usually have a pre-set amount on how much I can or should spend.
Once in a lifetime sort of events are a little different, but even with those I would usually plan ahead of time financially. I just find it easier too that when you have a semi set amount on how much you can spend you won’t worry too as to whether or not spending money on the activity/event will result in financial mishaps elsewhere.