Don’t Be Drained By Holiday Financial Strain

The holidays are a joyful time of year, but unfortunately they can be very stressful for some people. The pressures of gift giving and keeping up with traditions can cause a lot of financial worry, but the good news is that there are steps you can take to minimize money woes this holiday.

Piggy bank with christmas hat isolated on white background

For starters, you should get a sense of how much money you can spend. This should be a realistic number based on your finances, not one that you pull out of thin air. And remember that just because you have a certain amount of money doesn’t mean you have to spend all of it. Sometimes, less is more. And don’t even think about spending money that you don’t have. Even though credit cards make it extremely easy to spend beyond your means, you’ll pay for it later if you do. No one wants to be facing a mountain of debt once the New Year rolls around.

Once you’ve determined how much money is in your holiday fund, you should identify all of your holiday-related expenses. You should include everything you plan to spend money on during the season – gifts, decorations, Christmas cards, you name it! Once you have your expenses accounted for, you can decide how much of your holiday money you’d like to spend on each.

So what happens if it looks like your holiday money will be stretched too thin? What if you won’t have enough to cover all of your holiday expenses? The answer is… get creative! You’d be surprised how a little resourceful thinking can help you save big. Here’s a list of some ideas to help you cut down your holiday costs this season:

In the end, it’s important to remember that the holiday season isn’t about money. Reflecting on what the holiday means to you can help you overcome the financial pressures that accompany it, and find more meaningful ways to experience it. Spending time with family and friends, listening to holiday music, going to a church service – these are all ways that you can enjoy the season without racking up debt and stress. Happy Holidays!

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