It’s that time of year again. Some people love it. Some people hate it. But for most, it’s a time of spending and giving.
Here are four tips (+ a bonus tip) to ensure you stay financially healthy this holiday season.
You don’t have to get everyone a gift — and let go of the guilt that comes along with the societal pressure to get gifts — extravagant gifts — as if this is the true reason for the season.
Only spend money you actuallyhave — don’t charge your credit card(s) to get someone a gift. It’s not worth it. If you can’t afford to buy something, create a plan to obtain the item(s) at a later date when it is in your financial favor to do so. After the holidays, people greet the new year with new debt that could’ve been avoided had they stayed within their means during the holiday season and incorporated self-discipline.
Monetary gifts aren’t the only thing to give — give your time, love, kindness, joy, and good cheer. Monetary gifts aren’t the lasting gifts of life. The lasting and invaluable gifts of life are often intangible. How can you add value to someone’s life today? Some people could use some laughter in their life, others could use some help cleaning or fixing their home, others could use a night off from the kids, others may need some career advice, others might need a place to stay temporarily, and the list goes on and on.
Continue saving & investing — Whatever you do, keep on saving and investing during the holidays; this is the number one priority (outside of giving and being kind to yourself and others). Prioritizing your financial present and future is one of the greatest forms of self-care and self-love that you can give yourself. Also, it’s a glorious feeling coming out of the holiday season with more money in your pocket than less.
Avoid unnecessary stress — There are many variables (e.g., family, work, travel, cooking, gift-giving, food, traffic — on the highways and in the stores, weather, etc.) that can come into play during the holidays.
Take care of yourself first.
Maintain a clear perspective on your life and the world around you.
Instill clear boundaries with acquaintances, friends, families, & colleagues.
Hold onto gratitude; be grateful for someone and something each and every day.
Workout and eat healthily. Don’t throw your health in the bag around the holidays.