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Happier Finances This Season

Happier Finances This Season


Well, it is that time of year again… where there is a mix of holiday excitement and joy along with the stress of schedules, meals, and spending a lot of money! Along with an increase in inflation and overall prices, holiday sales are expected to grow between 4% and 6%, reaching $1.45 to $1.47 trillion! As a matter of fact, according to Bankrate.com, “More than 6 out of 10 people told Bankrate they feel pressure to overspend on either presents, travel, social outings or charitable donations during the holiday season…” and “About half (51 percent) of survey respondents told Bankrate they feel pressure to spend more than they are comfortable with on gifts during the holidays.” Overspending leads to an increase of debt and paying higher interest fees for purchases made through the holidays.

So, how do you avoid stress, save money, & enjoy the holidays? 

First, create a budget

What can you afford to spend? The smartest thing to do is to set this early in the year or make a goal that you stick with year over year (you may have to adjust for inflation and prices increases). The earlier you come up with an amount and make a budget the better. That way you can save slowly and won’t feel the pinch of debt.

Second, shop early and look for deals

We are still in an environment where it may take longer than usual to get some products, but some companies also have huge inventories, and they're going to have deals to get rid of it. So along with being proactive with your budget, get those lists from your family and friends and start looking for deals early and giving yourself time to get your gifts. It is ok if gifts hangout in the closet for a few months! Google each item you want to buy with the word sale after it, this will help you find the best deal!

Third, spread out you’re spending

Instead of having one “shopping day” in which you are determined to buy everything. Spread it out. Know what you want to get and how much you’re spending and keep looking for sales. Again, this means starting early, being organized with gift lists, and knowing your budget.

Avoid debt & balance joy

Is it possible to give presents and host meals while minimizing anxiety? Yes! By following those few principles above when it comes to holiday spending, you'll be more likely to enjoy the holidays without the pain of overspending. 

Here at Rayhons Financial we believe that there is Power in Planning! This is core to our business, and we are experts in helping you plan for goals – like the holidays! The holidays don’t have to be a source of stress, call us at (480) 507-2425 or contact us online. We’d love to meet you! 



The content in this article was prepared by the article’s author. Cetera Advisor Networks, LLC does not endorse its content, and the views expressed may not necessarily reflect those held by Cetera Advisor Networks, LLC.