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5 Ways to Avoid Holiday Financial Stress10/1/2020

Holiday Shopping

The holidays are the most wonderful time of the year and they are quickly approaching! While they may be considered the most wonderful time, they can also be the most stressful time of the year. During the holidays we are overloaded with holiday ads telling us to buy more and more. It is easy to spend beyond your budget when trying to meet holiday expectations from family and friends. Health Advantage is here to help you stick within your budget without sacrificing your holiday joy. Learn 5 ways you can curb financial stressors this upcoming holiday season.

DIY Gifts

DIY gifts can be a great way to save money and still hit the mark on Christmas gifts. You may be thinking why bother with DIY Christmas gifts. Well, Christmas gifts mean so much more when they are homemade. Your friends and family know you had to spend a little more time on them, and the thoughtfulness is always appreciated.

Grab some coupons to your favorite craft store and start your Christmas shopping!

Buying Multiple Gifts for Multiple Family Members

If you come from a big family, you may feel added pressure to buy everyone a special gift, but it might just be too much for your budget to bear.

To help stay within your holiday budget try suggesting a family gift exchange. It is an alternative to buying for everyone. Throw names in a hat and pick just one for whom you have to find a gift for!

Finding the Perfect Gift

Whether you are buying for multiple people or your family has opted for the gift exchange, you will likely still feel the stress of needing to find the perfect gift.

To take the pressure off yourself just ask your family or friends what they really want. Ask for a couple different options so you can be sure to find the perfect gift that is within your budget. Also, be sure to shop early so you will have a wider selection of items before they go out of stock.

Paying the Price for Last-Minute Shopping

When you have a long list of things to get done before the holidays, shopping may be the last thing on your list. Making hasty decisions with a time crunch is often stressful and expensive.

To avoid the stress of last-minute shopping, create a plan. Start making a list of all the people you need to shop for, and what gift you would like to get for each person. Stick to your list and create a schedule that allows you to complete your shopping two weeks before you are exchanging gifts. This will help relieve the stress of getting your shopping done and will allow for time to focus on other aspects of the holidays like traveling, cooking, and family time.

Feeling Like You Have No Money to Spend

While some of the solutions may to help reduce holiday financial stress, overcoming the feeling of having no money to spend can be the biggest challenge of them all. A shortage of funds may be your worry but by creating a plan and sticking to a budget, you can overcome the added holiday stress when it comes to finances.

To help you feel secure in your holiday spending, prior to the holiday season put a little money away each month into a special savings account. Take advantage of our Christmas Club savings account where you can regularly set aside money from your payroll or other deposits. Funds are automatically transferred to your regular savings the first of October each year and you will be set to shop away! If you feel like you cannot afford to set aside the extra money each month talk with your family about your financial situation. Get the whole family on board with the idea of a holiday budget. Keep the number of gifts modest and do not overspend.

Bottom Line

The holiday season is not about gifts – it is about enjoying time with loved ones! The greatest gift you can give to someone is time, love, and your presence. Listen to their stories, memories, and the little things. Put phones away and enjoy time together. The power of your time, love, and presence might be surprising.

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