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The custom:
Christmas giving is unusual in that it largely involves an exchange of gifts, and the Christmas season is marked by partying, feasting, and drinking.
Its roots:
Ancient Roman Saturnalian festivities began on December 17 and concluded on the 24th, when gifts were exchanged. Homes and streets were noisy with banqueting, heavy drinking, and riotous behavior. The Saturnalia was followed by an event celebrating the first day of January. This was also observed by a festival, usually lasting about three days. The Saturnalia and the first day of January likely formed one festive occasion.
Describing the true spirit of generosity, the Bible states: “Each person should give as he has decided for himself; there should be no reluctance, no sense of compulsion; God loves a cheerful giver.” - 2 Corinthians 9:7. Those who heed these excellent Bible principles give because their generous heart impels them to do so, which can be at any time of the year.
Family Gatherings:
Family gatherings can do much to unite family members, especially if they no longer live in the same house. Jesus and his disciples attended a wedding feast in Cana, doubtless a large gathering of family and friends. (John 2:1-10) And in Jesus’ illustration of the prodigal son, the father celebrated his son’s return with a family banquet, which included music and dancing.—Luke 15:21-25.
Enjoying a Good Meal:
The Bible frequently speaks of God’s servants as enjoying good food with family, friends, or fellow worshipers. When three angels visited Abraham, he prepared a feast for them that included beef, milk, butter, and round cakes. Solomon described ‘eating, drinking, and rejoicing’ as a gift from God.
Ecclesiastis h 3 v 13 says " and also that every man should eat and indeed drink and see good for all his hard work. It is the gift of God."
Clearly, God wants us to enjoy good food in the company of friends and family, and he approves of the giving of gifts.