The holiday season can be a joyful, magical time for the kids and older folks alike. While there are so many reason s to love the holidays, there are also plenty of reasons to be careful during them. Why? Because the holidays can be a season of poor financial choices. That’s according to the researchers. In fact, one study found that 2 out of 3 people plan to make bad financial decisions during the holiday season. That’s right, they plan to make poor decisions! They are taking money out of savings, racking up credit card debt, and simply spending more than they can afford. Having a plan is the most important thing during the holidays.
“A goal without a plan is just a wish.” These famous words by author, pilot, and war hero Antoine de Saint-Exupery ring true in many aspects of life – including the holiday season.
In fact, one of the best ways to manage holiday stress is to make a plan for everything you need to do – and then stick to the plan. A good plan can keep you on track to enjoy a wonderful holiday season. Planning your schedule and your “To Do” list is just one way to plan for a more enjoyable holiday season.
It’s also a good idea to make a plan for what you’ll do when you face holiday stress triggers. Finding the perfect holiday gifts can be a major stressor. Usually, that stress doesn’t come from the time or money spent searching for the perfect gift. Instead, gift giving anxiety mostly comes from trying to find the ideal gift to send the right message and provide enough meaning. One way to avoid holiday gift stress is to focus on giving an experience that has lasting value. In fact, research shows that experiences make people happier than possessions.
If you are struggling to figure out what to give your loves ones, consider things they have always wanted to do or things you can do with them. The gift of an experience can create lasting happiness and memories that a cherished for a lifetime.
With a plan, some boundaries, and the right priorities, you can invest your time and money into things that give you joy during the holidays. And that can mean a far better outlook as you enter the New Year.
As a financial adviser, I’ve seen how the holidays pressure takes focus away from what really matters and causes financial and mental stress. And I’ve helped many clients embrace the holiday spirit without going off track. The truth is good financial health isn’t just about portfolios and investments – it’s also about good day to day behaviors, budgets, and thoughtful spending.
If you are stress about finances this holiday season, give some thought to the tips I gave about and give my office a call. I’d love to hear your holiday plans and help you create a personal financial strategy for the holiday season!
By Kurt Arseneau
DIRECT: 470-839-9005 • EMAIL: firstname.lastname@example.org • WEB: www.ArseneauAdvisory.com
Disclaimer: Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Arseneau Advisory Group are not affiliated companies. Arseneau Advisory Group is not a CPA but provides tax services through it’s sister company Vickery Tax and Accounting, LLC.