My problem is that he wants to borrow money to but Christmas presents and I say make do with what we have. If people don't get, they will understand that it is certainly not because we haven't thought of them, but because we just can't afford it. He is also worried that our kids will have pretty slim pickings, my attitude is "Yeah, so they will".
I'd agree with you. Debt is no fun!
And...I know when I was a kid, we did have a few "slim pickings" kinda years. But you know, even when we got more stuff, there usually were only one or two toys I actually played with a LOT and as the months went on anyway!
I remember more the things we did together.