Scroogenomics at Christmas: Finding Joy Beyond ‘The Extravagance’

18 December 2024 by Khanin Saikia

Scroogenomics at Christmas: Finding Joy Beyond ‘The Extravagance’

“Oh, Christmas! A time once deemed wasteful and vain,
Now seen as a balm for the heart's weary strain.
A season of joy, where true riches are shared,
In love and goodwill, no expense is spared.”
– Ebenezer Scrooge

 

Gazing through the dimly lit windows of his modest office, Ebenezer Scrooge pondered the modern-day Christmas, “Ah, Christmas – each December, a tide of frivolity sweeps the world, with consumers collectively parting with an estimated $1 trillion globally on holiday spending.”

Reflecting on this, the Scroogenomist wonders, “What if Christmas were not marked by gaudy extravagance, but by acts of kindness? A season where gifts are not measured by their price tags, but by the care and thoughtfulness behind them. A handmade scarf, a heartfelt letter, or simply the gift of time – all these carry more value than gold. How uplifting it would be if people prioritized what truly matters: love, compassion, and the joy of giving.”

With a faint smile, he concludes, “In its simplicity, Christmas is an opportunity to express gratitude, foster community, and reflect on life’s deeper purpose. Embraced thoughtfully, it might indeed be the most splendid of seasons.”


The Complex Reality of Christmas

Despite its ideals, Christmas often strays from simplicity. Instead, it has become synonymous with wasteful spending and indulgences that quickly fade. The financial and environmental impact is staggering, both locally and globally.

In New Zealand:

Gift Wrapping and Packaging: $35 per person is spent on average, totalling $175 million annually, much of which ends up in landfills.
Holiday Parties and Entertainment: Approximately $2.25 billion is spent annually, with significant waste from uneaten food and unconsumed drinks.
Unused Subscriptions: Nearly $1 billion is spent on subscriptions and memberships, many of which go unused.
Credit Card Dependency: This year, around 34% of New Zealanders plan to rely on credit cards for Christmas expenses, a 14% increase from 2022.

America and Europe:

Holiday Waste in the United States: Between Thanksgiving and Christmas, an additional 1 million tons of waste is generated weekly.
Unwanted Gifts: In the U.S., 62% of all presents are unwanted, totalling over $15 billion, with half being returned or re-gifted.
Food Waste in Europe: Annually, in whole of Europe, 88 million tonnes of food waste are generated, with households responsible for over half. In the UK alone, 54 million plates of food are discarded, and £42 million worth of unwanted presents end up in landfills during the Christmas season.

Asia:

Several countries in Asia like Singapore, South Korea and Hongkong are producing massive food waste and rubbish, particularly packaging and plastic pollution during holiday seasons.

Scroogenomist’s reflections remind us to reimagine Christmas as a season centred on connection, gratitude, and generosity.

The Human Cost

While the financial and environmental toll of wasteful Christmas spending is often discussed, the human cost – the impact on individuals, families, and society at large – deserves equal attention.

Financial Stress and Debt: The pressure to meet societal expectations of gifting and celebrations drives many into debt.
Mental Health Struggles: Social media and advertising amplify feelings of inadequacy for those who can’t afford to “keep up with the joneses”. The emotional high of the season often gives way to guilt or regret over overspending.
Impact on Relationships: Financial disagreements are common during the holidays, especially between partners or family members. Focusing on material gifts can overshadow meaningful connections and quality time with loved ones.
Social Inequality: For those unable to afford the holidays’ financial demands, feelings of isolation and inadequacy intensify. The emphasis on materialism often overshadows charitable efforts that could address real community needs.
Children’s Long-Term Values: Excessive focus on receiving gifts teaches children to equate happiness with possessions. A culture of abundance can erode appreciation for the thought and effort behind gifts.

Instead of traditional presents, donate to a charity on behalf of your loved ones. It’s a thoughtful way to make a real difference and spread joy where it’s needed most.

Thoughtful Spending

Scroogenomist reflects further: “Now, I am not against spending! Christmas spending significantly impacts our economy. However, spending should provide genuine satisfaction for the giver and value for the receiver. We must avoid the deadweight loss of Christmas.”

Considering alternatives, he muses: “What if spending took more thoughtful forms this Christmas?”

Meaningful Exchanges: Focusing on thoughtful, inexpensive gestures rather than costly items.
Charitable Giving: Donating to charities in lieu of purchasing presents. Gift cards can also be an option, though $10 million worth go unused annually in New Zealand.
Planned Gifting: Sticking to fewer, more meaningful gifts. Have a set budget.
Time Together: Shopping as a family for underprivileged children or engage in charitable acts as a family.
Education: Teaching children that Christmas is about making a difference in others’ lives, not just receiving.
Family Activities: Consider creating traditions such as special breakfasts, game nights, nature walks, or movie marathons.

A Call for Meaningful Celebration

Scroogenomist’s reflections remind us to reimagine Christmas as a season centred on connection, gratitude, and generosity. By shifting our focus from materialism to meaningful traditions, we can restore its true essence – a celebration of love, compassion, and enduring joy.

“After all, it’s the most wonderful time of the year.”

 

Article by Khanin Saikia

 

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Disclaimer: Inspiration and ideation of this article is based on the summaries and articles on the book Scroogenomics: Why you should not buy presents for holidays by Professor and Chair of Business and Public Policy Joel Waldfogel at the Wharton School of the University of Pennsylvania. This book is available to buy from Princeton press website. Various web-based sources and AI tools have been used to summarise the information discussed above.

 

References:

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