WE are coming into the season of Christmas madness.

This is the time of year we completely lose our heads when it comes to money and spend like we’ve got millions in the bank. I don’t exempt myself from this “illness” – it takes us over and there’s no common sense about it.

But, what has happened over the last four or five decades to turn us from a relatively thrifty nation into “because I’m worth it” people who believe they have a right to what they want, and now?

It really doesn’t seem that long ago that if you really wanted something fairly expensive – like a new three-piece, the latest TV or a posh holiday – you saved up for it over a lengthy time and didn’t get it until you had the money.

Now, the Wonga generation of easy borrowers want their money at the press of a button on their phone, with no thought for actually paying for it tomorrow. And even less for any rainy day problems – like the washer breaking down, the car needing an expensive part or anyone in the family needing expensive dental treatment.

Christmas polarises the way that we have come to treat money and any ensuing debt.

Many people who borrow to buy some item they absolutely must have right now simply cannot make the connection between that and having a debt that they will have to pay over a specific period of time, or face the consequences.

It’s just the same mindset as tenants who don’t pay their rent because they’ve spent it on something else they wanted like a holiday, and are then aggrieved that their landlord wants his money.

This is nothing to do with those poor souls who simply cannot manage on the pittance they have and quickly find themselves in spiralling debt. But those who contribute to their own debt by being self-indulgent really have no one to blame but themselves.

Sorry, I know this is really not in the spirit of festive goodwill and enjoying the simple pleasures of Christmas, but I come from a generation who didn’t have the most comfortable homes, the best clothes, the most luxurious holidays or the fanciest cars until we could actually afford them.

Even though we’re all sucked in by festive buying, much of that principle still remains today, and there’s no denying it can still give everyone a very enjoyable Christmas.