How to Handle Holiday Financial Stress

PLAN AHEAD.

One of the biggest mistakes we can make during the holiday shopping season, is going to the grocery store or going gift shopping without a set plan in mind. By set plan I mean knowing exactly what you are buying and what it’s for. For example, when you go to the grocery store you already have your holiday meals planned out and a list of all the ingredients you need so you only stick to your list. We get in trouble when we go without a plan and then splurge on things we don’t need and end up spending a lot more then intended. The same goes for holiday gift shopping. Go to the mall with a list of all the people you need gifts for and how much you are willing to spend and then stick to that budget. Planning ahead before we shop really does help us cut unnecessary costs!

BUDGET. BUDGET. BUDGET.

I know I’ve talked about budgets before and the importance of budgeting when it comes to spending money, but I will reiterate it again here today, and probably again sometime soon in the future, because that’s how vitally important it is! Reviewing your earning and expenses is a habit everyone should practice, and especially so during the holiday season when our expenses increase. So take a hard look at your earnings and budget based off that. Leave yourself some wiggle room for unexpected expenses that might pop up and obviously make sure you can pay your bills and pay for the necessities of life, and then what is left over is what you can use to buy gifts for your family and friends. You might not like the outcome and what is left over, but it is OK. This year has been financially difficult for all of us, and your family and friends will appreciate anything you get them. So set a budget for this years gift giving and challenge yourself to stick to it. Make it a game where you lose if you go even $1.00 over what you said you would spend. I promise the discipline you will inherit from this exercise will be well worth it!

GIFT GIVING FROM THE HEART.

I know we all love to receive extravagant, expensive gifts that our loved ones purchase for us. But let’s stop and really think about all we have and all that we are thankful for. I am willing to bet the people in your life and worth way more than some gift you could give. So get creative this holiday season! Make something from the heart, or write a wholehearted note to your loved ones, acknowledging your love for them and how thankful you are for them in your life. This year, more than ever, is a year to celebrate all you have in your life.

I hope you found these hints insightful and something you would consider trying to reduce the holiday hustle and bustle this year. Let’s do our best to remember what the holiday times are really for, and be thankful for our family and friends and all we have in our lives. Now let’s make this holiday gift giving season one to enjoy rather than stress over!