As we enter the last few months of the year, a lot of us are brewing with anxiety about the busyness and expenses that the holidays bring. It can feel inevitable, but there is actually a lot we can do to mitigate the chaos. Here are my favorite mindful money tips for the season:
1) Bring cash.
There may be more get-togethers and dinners scheduled around this time of year. For those of us watching our budget, pressure to split the bill evenly can be stressful and feel unfair. We may not want to create more work for the wait staff or stall the process of paying. We feel more pressure to compromise our financial goals when we feel stuck. I suggest always bringing cash to group events, so you can pay easily and quickly on your own terms.
2) Try loud budgeting:
which is “being outwardly candid about your intentions to live at or beneath your income level and to spend money according to your personal wants and needs.” The more open you are about your goals, the easier stating and sticking to your financial boundaries will be.
3) Start your holiday gift budget now.
I’ve been making holiday lists with many of my clients over the last few weeks. Getting clear now on who you want to give a gift to and how much you’d like to spend, will allow you to plan financially. Just adding up the total can be a powerful motivator to budget. Take a proactive approach. Where can you reduce spending in October, November and December so that you can make financial space for your holiday gift giving? Can you intentionally take advantage of Black Friday rather than mindlessly shop?
4) Prioritize self-care.
We can run ourselves ragged this time of year, which makes us much more likely to get sick. A few things you can do to care for yourself: get morning sunlight, prioritize sleep, eat less sugar, (even though there is more of it around) and make time in your schedule for things that nourish you.
Give yourself permission to say no–this is self-care. If you consider attending an event or family gathering and you can feel discomfort in your body, I encourage you to listen to the message. Your nervous system is talking to you.
5) You don’t have to wait until the New Year to enact change.
Every day is a great day to change a habit. The turning of the calendar year often brings up complicated emotions and pressure. You don’t have to let your financial health get wrapped up in that. If you have something in mind you want to learn or do, just start. “The best time to plant a tree was 20 years ago, the next best time is today.”
What would you add to this list? Reply and let me know 🙂
