1. DO NOT ALLOW HOLIDAY GIFT-GIVING TO CAUSE MONEY STRESS.
- Decide in advance how much money you can afford to spend on holiday giving. Once you make your decision, stick to it.
- Review the list of people you plan to buy for and examine your gift-giving motives. Are you planning to buy for them out of obligation or joy?
- Can you afford to purchase the gifts on your list? Decide before you begin shopping if those items on the list are worth going into debt or stretching your budget. Set a spending budget and stick with it.
2. CONSIDER YEAR-END CHARITABLE GIVING.
- Is there a charity that serves a community that is dear to your heart? Reach out and ask how you can volunteer your time or make a financial donation.
- Think about where you can do the most good with your time and money. Think local. Think about smaller charities.
3. REVIEW 2024 AND LOOK TOWARD 2025.
- Take the time to review 2024, and be real with yourself about your financial situation and outlook.
- Admit the financial mistakes you made in 2024.
- Develop a plan to help you avoid the mistakes of 2024 in 2025.
- If budgeting and properly managing your finances is a struggle for you, set aside your pride and seek help from a professional.
