Money and Holidays: 6 Tips to Help You Avoid Financial Stress

The holidays are perfect for spending time with family, catching up with old friends, and getting together with the ones you love. However, it can also be a stressful time.

There’s the gift giving, family vacations, having to go to parties and events, buying new clothes for a family get together, or simply lots of dinners and evenings out that you need to attend.

Because of this, the holidays can cause a lot of financial stress, which can be difficult to cope with. So, what can you do to deal with the financial pressure that goes hand in hand with the holiday season? Read on to find out.

Why the Holidays Can Be Stressful

The holidays can be stressful for a number of reasons. It may be the burden of having to travel to visit family members, or that you have lost someone you love, and spending this time of year without them can be hard.

It can also be tough to fit all of your social events into your calendar, and find time to decorate your home, buy presents, and wrap them all up before seeing your loved ones.

While the holiday season is a nice time that many people look forward to, it can also be a time that others dread, because it can take a financial toll on them. This is because there are not only gifts to buy for everyone you love but also paying for dinners, drinks, plane tickets to visit others… it soon all adds up and can become a financial burden.

But, there are still bills to pay, and you may be unsure how you can afford the holiday season. Recent polls show that nearly 90% of Americans feel stress or anxiety about the holiday. In addition to this, surveys demonstrate that the majority of this stress is caused by money and finances.

So, what can you do to cope with the stress that it causes?

6 Tips to Help You Avoid Financial Stress During the Holidays

Plan Ahead

One of the easiest ways you can avoid stress is if you plan ahead before the holidays are upon us. You can make a spending plan, or a budget to help you get ahead and prioritize what you need to spend money on. You can also brainstorm what gifts you need to get ahead of time, so you’re not scrambling the week before to find things, or worrying about delivery times.

Split the Cost

If you plan ahead for what you need to pay for, you can spread the cost over multiple paychecks, so you’re not using just one for everything, and spreading yourself too thin.

Remember, It’s Not All About Gifts

A lot of people don’t know what to buy and end up buying too much. If you’re unsure, just ask. Most of the time, they’ll tell you exactly what they want, which relieves some of the pressure. And gifts aren’t everything! You could suggest spending some quality time together with the person you haven’t seen for a while, instead of buying frivolous gifts.

Prioritize Bills

Your bills are still your number one financial priority. Make sure you pay off your bills, or keep money aside for emergencies, before you spend on gifts. Otherwise, you could face more stress further down the line.

Take Care of Yourself

Don’t forget about self care. The holidays are busy times, and you may feel strung out. Make sure you are getting enough sleep, food, and alone time so that you can minimize feelings of stress and anxiety, and enjoy the holidays.

Talk to Someone

If you’re struggling and feeling stressed, it is important that you reach out to a friend, family member, or even a therapist. They can help lessen the load and come up with strategies to ensure your finances are in check.

To find out more about how counseling can help you, please reach out to us.

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