How happy were you this morning when you looked outside and saw a dusting of snow? I was STOKED! I LOVE the fall and winter months – cooler temperatures, changing leaves, a return to real time, pheasant season, ski season, and yes, the holidays.
I do, however, have one large asterisk on the season revealing my inner Scrooge. **Tis the most, wonderful time of the year . . . . to go into serious debt!
Not to throw cold water into your hot chocolate, but many folks absolutely lose control of their spending during November and December, creating a hole that they spend the next 10 months trying to dig out of before they do it all again. Nothing ruins the holiday season more than spending money you don’t have in the name of the Christmas spirit. (Bah Humbug!)
Below are some suggestions and an article that you might find helpful in creating a more healthful financial approach to this holiday season.
Suggestions
Have a spending plan – it’s not too late to sit down and plan what you can spend and how you want to spend it.
Focus on what matters – Remember that the holidays are about spending time with family and friends, and it doesn’t cost much to get together for a meal and some flag football or a hike.
Be thoughtful – and I don’t mean give everyone you know a gift in the name of “being thoughtful”. Think about the gifts you give and why you’re giving them. Don’t give gifts or spend out of guilt or obligation. If you don’t have it, you don’t have it. There are lots of inexpensive and meaningful ways to let folks you know that you’re thinking of them.
Reading Suggestion
Here is a great article from the folks at the Financial Planning Association (FPA) about holiday spending:
https://www.plannersearch.org/financial-planning/9-ways-to-keep-holiday-spending-under-control
In summary, be careful out there! Don’t throw a year’s worth of work away in four or five weeks trying to meet the expectations of others. It is possible to enjoy the holidays without a sense of impending doom for the next 10 months.
Please let us know if you need our help or if you have any questions -
Joel & Troy