Happy November! The months are flying by, and Thanksgiving will be here in the blink of an eye. In fact, I know some are already putting up their Christmas décor. It’s too early for my taste but nonetheless, has me thinking about the holiday.
This week’s pillar of health topic is financial health. Ensuring your financial health is solid, is a gift to yourself and your future. All the pillars are interrelated, and financial health (or lack thereof) has a huge impact on stress and your marriage relationship (if applicable). In turn, stress is a silent killer. More about that in the stress reduction blog!
Thanksgiving is one of my favorite holidays because of family gathering without the gift-giving commercialization. Today we are going to talk about how to celebrate and enjoy the holidays without going into debt.
First, remember the reason for the season! The ultimate gift is Jesus who was born, and we celebrate His birth at Christmas. All other gifts we could give to one another are insignificant. Even so, I get the commercialization pressure. The kids want gifts and as they grow, the price tag of those gifts tends to increase. I recently had a conversation with a friend about this. It is tempting and very easy to overspend.
Set a Holiday Budget
If you don’t already have a budget, I suggest setting a clear, realistic, holiday budget now. It can be helpful to break it down into dollar amounts for each person you intend to give gifts to, plus have a separate budget for food and entertainment. Don’t forget travel costs, if applicable.
Keep track of what you spend then next year, build this amount into your annual budget and save for it all year long. This makes the holiday season far less stressful, when you plan for it early and have the resources available. The trick is to stick to the budget.
Thoughtful gift-giving on a budget
It is my opinion that thoughtful gifts are more meaningful than high-priced gifts or even gifts that are not functional. Gift giving for the sake of gift giving is a waste of time and money to me.
One year, I gave my adult kids the gift of legacy. We enjoy my homemade shrimp dip over the holidays for many years, since they were very small. The dip is molded in a certain Tupperware gel-ring mold, and I gave each of them the mold plus the recipe printed and laminated with pictures of the final product. They will use this for years to come!
Plan free or low-cost activities for family and friends.
Seasonal activities can add up too but there’s also free and lost cost ideas.
- Nature walks to see fall colors or winter scenery
- At-home movie nights with holiday classics
- Hosting potluck-style gatherings with friends and family
- Craft or baking with kids at home
- Volunteering to give back to make the season even more meaningful
Mindful spending: needs vs wants
Discuss being mindful of financial decisions and how it supports long-term goals with your family. Reflect on what truly brings joy during the holiday season.
- What are the moments you look forward to most during the holiday season?
- Which holiday activities bring you closer to friends and family? Decorating? Cooking? Simply relaxing together?
- What are some of your favorite memories from past holiday seasons? What made them special?
- How do you want to feel throughout the holiday season? Peaceful? Relaxed? Connected?
- What non-material things bring you joy?
- What is one small change you could make this holiday season that will make a difference in your enjoyment of the season? Slowing down? Spending less? Saying “no” to an extra event?
Summary: Financial Health as a Gift to Yourself
Choosing a financially healthy holiday season prioritizes your health and well-being. Have you noticed all the loan “deals” available in January every year that target those who’ve gone into debt over the holidays?
Memories, not material things, create lasting joy. Read that again.
Memories, not material things, create lasting joy.
As we get older, most of us become wiser. I came to realize that relationships were more important to me than gifts. I am going to share here what action I’ve taken, resulting from this insight but I’m in no way tooting my horn. I offer this as another idea for you to consider.
I have stopped buying toys and breakable things for my grandchildren. I don’t even buy them clothing because their parents provide well for their children, my grandchildren. Instead, I offer my grandchildren priceless experiences.
I take them camping every summer. Kind of like “Summer Camp with Mima.” We spend a few days together camping in the outdoors and doing camping and lake activities. I do buy them a souvenir of some sort to remember it. We are creating memories. In full disclosure, these trips are a lot of work for me. Planning, preparation and execution; but so worth it. I return them to their parents, and I recover. Haha. But they have memories with me to last a lifetime. This was modeled for me by my grandmother when I was a child, and I loved her dearly. I hope to create the same relationship(s) with each of my grandchildren.
I hope this encourages you to embrace financial health this season, savoring the moments that bring true joy and creating a holiday filled with meaning, peace, and connection – without the burden of debt.
In love and health,
Terri
Thank you for making this available. I will benefit from these ideas and the support for healthy, less stressful holidays.