It's that time of the year again. The sleigh bells are jingling, the halls are decked, and your bank account is about to take a sleigh ride of its own. Christmas, the season of joy, merriment, and, let's be honest, questionable financial decisions. According to Eufemia Basilio Morales, an academic from the Institute of Economic Research at UNAM, the festive season is not just about spreading cheer; it's a grand economic spectacle with consequences that might leave your wallet singing the blues well into the New Year.
Picture this: December 24, Christmas Eve, the day when the festive spirit is in the air, and your Christmas bonus is on its way to being decimated. Morales warns that more than 50 percent of that hard-earned bonus goes straight into the Christmas celebration abyss. Sure, we all love a good holiday bash, but perhaps it's time to trade that lavish Christmas feast for a more budget-friendly option. Maybe a potluck where Aunt Mildred's infamous fruitcake takes center stage – a real gift that keeps on giving.