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Hey Ya’ll!
Is it just me or is everyone talking about Black Friday as opposed to Thanksgiving? This morning, I purchased a few last minute Thanksgiving items from my local grocery store. As the cashier, cashed me out she asked if was I ready for Black Friday? I’m thinking to myself, I have a cart full of groceries and you’re asking about Black Friday? LOL.
The holiday shopping season begins the day after Thanksgiving. In fact, this is the time of year that can make or break you – financially! So many gifts to purchase, not enough money to spend.
During the holiday season, I feel like I am playing a game of tug of war. First, I have to first figure out how much food & gifts I can afford for the workplace social. Then, I must decide what dish to prepare for the family potluck. Lastly, I have to determine what gifts to purchase for select family members.
There was a point in time when I had to figure out what outfit to wear on Christmas day. I had to be cute for the gram!
Making all of the decisions (on top of paying your everyday bills) can be extremely stressful!! Psychology Today states the American Psychological Association (APA) found that nearly half of all women in the United States experience heightened stress during the holiday season, which puts their health at risk. During this time of year, 41 percent of women turn to food and 28 percent turned to alcohol.
There has to be a better way to manage the stressors that are triggered by the Holiday Season.
How to Manage Financial Stress
Have A Plan – Start early. Make a list and check it twice (or a million times). Planning ahead allows you to hold yourself accountable. Determine how much you can financially afford this year. Set a budget and do your research!
Minimize Credit Card Usage – Just say No (remember that campaign from the 90s)? According to Forbes.com, Americans are still paying off the credit card debt they racked up over the holidays last year. Among shoppers who charged their holiday gifts in 2017, over 1 in 4 are still paying off the purchases made on their credit cards as they head into another holiday season. If you cannot afford to pay off that item before your next billing cycle, you should put it back.
Be Honest About Your Financial Situation – If you cannot afford something, just say it! Speak up and set realistic boundaries. The truth can be very liberating. In fact, your honesty will be very much appreciated. Just know that the holiday season is more than just material items, it’s more about why we celebrate as opposed to how we celebrate.
Take Advantage of All Discounts – Sales/Coupons/Rebates, etc. – Black Friday is the busiest shopping day of the year. Take advantage of the sales, search for in-store or online promotions that give you an additional discount. Download the store app to see if they’re offering any additional savings. Check your mailbox and email inbox! Imagine how much you can save if you use coupons?? If you cannot purchase an item on sale, leave it at the store!
Pick Up A Side Hustle – Find a way to generate more income. Sell items that you no longer use or find a way to work from home & make more money.
Overcoming Financial Stress is Possible
The holiday season is here! In fact, the National Retail Federation is anticipating Americans to spend $720 billion this holiday season. It is easy to be enticed by the store app notifications, commercial advertisements and email ads pressuring you to spend money that you do not have. Whatever you do think before you act!
Don’t let the high expectations of the holiday season cause financial stress and anxiety in your life. This season should be filled with love and happiness. Celebrate the season by celebrating YOU! Be happy. Live, love, laugh and reflect upon those moments that bring you joy. End this year on a positive note and start the new year with a bang!
Coping with financial stress is hard. I am a recovering shopaholic! I got tired of being stressed EVERY holiday season! The holiday season is supposed to be the most wonderful time of year, so why am I always walking away feeling like a Debbie Downer? So, I decided to change my thought process and try a new approach. At this point, what did I have to lose, right? Create a new habit, start a new tradition! You can do this!
Overcoming financial stress is not as hard as you think! It’s possible. Anything is possible – you can do this!!!
If you’re tired of falling in debt during the holiday season, I suggest reading my blog post here where I discuss how I started a holiday budget.
How do you reduce financial holiday stress? Share your tips below!
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