A few weeks ago, I had the pleasure of meeting up with a close. We had a great time. The ambiance, food and company were perfect. You know what reconnecting with your nearest and dearest friend is like. You let your shoulders drop a little and get ready for great conversation. The type that flows is open, supportive, and honest. At least it should be. The best part is that great friendship includes having witty and productive conversations. Bonus: having a trusting relationship without fear of judgment makes it even more valuable. Fortunately, our professions also intrigue each other and help us be insightful, which impacts our personal and professional lives. My role as a financial professional helped to give a renewed outlook for my friend who was stressing over finances because of the upcoming holidays. I want to share a bit of our conversation because it could also help you have peace of mind during the holiday season.
My friend confided in me as I sipped on my latte and exchanged updates. She has been feeling anxious about the upcoming holiday season and all the financial obligations that come with it. The excitement of the holidays is undeniable, but for some, the financial stress can be equally overwhelming, especially for those with big families. I listened to her concerns instead of responding with, “Do this, don’t do that!.” I made a suggestion. Reset your holiday state of mind, and focus on what you can do now while keeping it affordable. Focus on a new and exciting holiday season while being creative.
I reminded her to reflect on past holidays only to identify the moments that brought the most joy and highlight the circumstances that brought stressors. She focused on the stressors and stated that it was because she had taken on most of the party planning and for large groups more than once during the season. It's not a potluck style, just her giving a great holiday experience. As a result, shortly after the new year kicked in, she was financially strapped, and it took a few months or so to catch up. A lot of people do this. It may have worked years prior. If it is no longer conducive, switch it up! It was okay to carry forward family traditions. However, it is time to delegate tasks when it is primarily one person's duty, and help is needed. I bet others will understand.
It’s good that we had this conversation early because I reminded her to make the holiday season unique to her wants, needs, and desires and set a budget. We also discussed the importance of being honest with ourselves and accountable for outcomes. Just a reminder, we can enjoy the holiday without burning a hole in our pockets.
After talking for a while, she identified areas where expenses could be cut. She quickly went onto Pinterest, her favourite app and researched holiday DIY decorations. The ideas sparked her creativity by making the most of what she already had. My girl was excited. She also set a deadline for herself to get plans in motion. She was set on giving her kids the gifts they wanted and deserved. However, I considered placing a strict budget on gifts to a few others. Surprisingly, my family chose Secret Santa this year, and I love the idea. My friend also mentioned that hosting a one-holiday dinner is ideal, and she will contact a few family members to contribute. A lot of great ideas, and early enough to give advance notice to anyone who needed to be notified. Girl talk was excellent, and she seemed so relieved! It also was a great reminder to me to start planning early as well. Plus, it is a reminder that change is good, and we shouldn’t hesitate to make it happen, significantly when it will benefit us mentally and financially.
Get ready to embrace the holiday season with a renewed outlook. One focused on the foundation of warm connections, joyful moments, and stress-free. We can make this holiday season memorable by refocusing our priorities, setting realistic budgets, and embracing creative solutions. Cheers to a joyful, affordable holiday season and a prosperous and healthy 2024.
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