Spending Tips to Bring You Less Stress and More Joy This Holiday Season

Our financial situation can cause stress any time of the year, but the holidays can be particularly challenging. Fortunately, with a little advanced planning, there are options to turn that stress into joy.

From setting a realistic holiday spending plan to exploring creative gift alternatives, such as handmade items or shared experiences, you can enjoy the season with greater ease and minimize the stress often associated with overspending.

Here are some helpful tips designed to reduce stress and increase joy this holiday season:

Set A Holiday Spending Limit

During the holidays, it can be easy to let spending get out of control. Put a cap on your spending by creating a holiday budget or spending plan.

Be sure to factor in additional non-gift-related expenses that can easily add up
- things like holiday photos, decorations, food, and if your family gathering is canceled, shipping of gifts to loved ones.
 
GreenPath’s Holiday Budgeting Worksheet is a useful tool you can use to track all of your seasonal expenses in one place.

TIP: Already Stuck with Holiday Debt? Here’s What You Can Do

If you’ve already found yourself paying off high-interest credit card debt, a GreenPath debt management plan may be able to help you lower your interest rates and pay off debt faster. Try out their debt payoff calculator to see your potential savings.

Trade Pricey for Priceless

A great gift doesn’t have to be expensive. Think outside the box and treat your loved ones to a thoughtful gift that generates excitement without the price tag. Maybe that’s a handmade item, a DIY project, a fun experience, a coupon book, or just the gift of your time.

Keep Your Personal Info Safe

The holiday season is a time when people are more vulnerable to identity theft scams. Not only are they making more purchases than at any other time of year, but they are often distracted when doing so.

As the current environment drives more people than ever to online shopping, it’s important to be aware of the best way to protect yourself from identity theft:

1)  Stay up to date with online scams

2)  Use strong account passwords

3)  Monitor your credit report

Get ahead of your holiday finances and connect with a counselor today - it’s free, no pressure, and 100% confidential.  

This article is shared by our partners at GreenPath Financial Wellness, a trusted national non-profit.