Issue #11: Holidays - To Spend or Not To Spend?

First of all, sorry this a day late! This week has been something else, will not lie about that. So here we go.

Today's issue we will be focusing on the "overspending-demic" that occurs every year at this time. I have grabbed two articles that I will be directly speaking about that caught my eye this week as well. Remember #moneymindset, this will be key during this time of the year!

This should actually say "Black Friday" not Thanksgiving because we are all focused on Family, Food, Football, Rest...you may have a different order but as Americans that is what Turkey Day comes down to. As the article states, Black friday kicked off a $5.29 Billion shopping spree, the crazy part is that is up 2.9% from last year, even with as much inflation as we have! This comes as no surprise to me, like none at all. As humans we long to give to others and feel that sense of either accomplishment or "Good" factor (I seriously could not thing of another term), but you all know what I mean. Due to this "Good" factor, business world has gotten more tuned in to how we emotionally operate, thus the overload of sales/deals that seem to be "too good" to pass up. This is all a game to attack each one of our #moneymindset and they do a good damn job at it, don't they?

No... I did not pick this article because of 69% (get your heads out of the gutter!), however in the words of Borat "Very Nicee!"

We all are in the same boat though, we have saved for certain things, we have Christmas lists, etc...all gnawing at us to do. Our internal human, is also driving this as well, because we want to bring joy to those that we love. Most pundits or articles will go on to say these are the 5 ways to avoid "overspending" or 5 ways to be better during Holiday season, etc. You will see many articles like that during this time of the year. Don't get me wrong, I agree with the techniques they speak about, I am just adamant against the timing. Planning or #budgeting for any type of spending is key, in building your #wealth, we can all agree there. However, planning takes time and effort over a period of time. So for these articles to come out now, is too little too late. At Black Mammoth, we understand this and focus those #moneymindset efforts of planning, etc. to happen at the beginning of the year and build those positive habits throughout the year so when we get to this time of the year, the stress is not about over spending or what can I spend. The stress is over deciding what you want to give your loved ones. Truthfully, your joy and happiness is WAY more important than #money. I harp on this continuously #money does not control you, it is a means to things in life but is not what #wealth is solely about. So #enjoy this time of the year as much as you can, you are in it now. You cannot plan/budget at this time you just have to be aware of what you spend and understand that you will have to make adjustments after the holidays for planning for next year but also to recover if you did over spend this year. Please just #enjoy do not like #money beat you up!

I will be one of those pundits and leave you with 3 tips that you can use DURING the holiday season that do not take prep work:

#1 - Be Present

Being present is as much as a gift to your loved ones as it is a gift to yourself. So stay in the present, please avoid thinking of work or how much this costs and how much debt we are in. Those are all fixable issues over time. The time if you waste thinking about you may never get back with the loved ones that are in front of you and that is what this season is all about!

#2 - Forgive Yourself

Take time (when you can) for yourself to forgive, what has or has not occurred over this year, especially when it comes to your #money. It is not worth the stress, right now. If you can forgive yourself this allows #1 to mean even more!

#3 - Re-energize

With whatever amount of time you have off, make sure to rest. #1 and #2 will allow you to rest and get re-energized to focus on improving your life and achieving the goals you have. If you do not have any goals, that is okay too, just get re-energized with belief in yourself. No matter where you are in life, believing in yourself will take you further than you can even imagine! Let it happen for you!

Stay tuned over the next few weeks we will be focusing on EOY #moneymindset and prepping for 2023!

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Oh, yeah and have to put this in here...Compliance and all

“The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult with your financial advisor.”