We don't know about you folks but seeing all of the winter decorations making their way across store shelves has got us humming one particular Mariah Carey song . . . despite the fact that it is only the middle of November!
Halloween may have just ended, but it is never too soon to prepare for the next holiday season. Part of that preparation is often financial. Gift-giving, traveling to see family, and lots of other seasonal expenses pop up this time of year. Many folks try to get a head start by reducing other costs, picking up extra hours at work, or setting aside funds. If our financial health has not been the best, this can be overwhelming or stressful. We might even feel guilty if we want to provide friends or family with certain gifts or experiences but can’t afford it. That can make it hard to prepare—and hard to get excited about celebrating.
With that in mind, below are a few tips and tricks that may help you avoid spending pitfalls.
Preparing for the Season
- Check in on your income and expenses. Does your budget make sense? Consider building a holiday budget with important details like how much you are able or willing to spend and who you would like to spend on.
- Talk about your expectations with friends and family. You may find that everyone is feeling the strain this year and would rather get together for a potluck than a gift exchange.
- Give folks (and yourself!) permission to not go above and beyond. It may be cliché, but it truly is the thought that counts.
Travel
- Avoid higher ticket prices by flying on “off-days” like Tuesdays and Wednesdays versus weekends.
- If you are traveling more locally, consider buses and trains.
Gift Giving
- Focus on giving non-material gifts—experiences and quality time can be more valuable than stuff.
- There is also the tried-and-true option of making your own gifts. We love all of the little handmade cards we have received from loved ones over the years.
Remember you can always connect with the Financial Aid Office to help create a financial plan or brush up on the resources they offer. As always, please visit B-2 to B-Well, and take care of yourselves and each other!
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