Is Santa making you poor? What to tell your kids about Christmas

I was thinking last night about how much debt people go into to make sure that Santa is generous with their kids during the holidays.

How many bankruptcies do you think Jolly Ol' St. Nick has caused? If you add up the holiday extravagances that have burdened families with debt in this country over the years, I'm willing to bet that the subprime crisis couldn't hold a candle to the havoc Santa is wreaking.

The point is: The myth of Santa is making you broke, and you need to come up with a new myth that can make you rich, or at least less poor. I've thought of something but, before I tell you, I need to warn you: This is not a happy little Christmas fable, and your kids aren't going to like it. But if your goal is to terrify your children into frugality, it might be worth a try. Here it is: