Under The Tree, Christmas Tips For Free!

Do you feel that?

Outside is getting dark earlier, the wind is chilly, and music is coming over the airwaves... Christmas is in the air. To be honest, people have been counting down since October ??

During this time people go over the top because they love how it makes them feel. While others see it as commercialism and prefer to assign a different meaning to the day by being with loved ones.

However, you view it, know that Christmas happens on the 25th of December every year and isn't a surprise.

Therefore, I ask my clients from the beginning of the year to prepare what I call a "sinking fund" which is defined as money you set aside for expected expenses. It has been studied that those who don't prepare for this time will spend a lot more versus those who budget for it.

This is the time you see sales EVERYWHERE and those pesky ads saying come and get your unsecured loans to do your Christmas shopping, renovate the house, or travel ??

This is not the time to get into debt unnecessarily. You need things that bring you closer to your money goals not take you away from them.

So to help you during this time, I will be sharing 7 tips you can apply for the upcoming holiday season.

? Pay your bills early: This includes paying yourself first. Remember, in December you get paid early so you could do your shopping but you don't want to get caught up in the moment and not have enough left over to cover your essentials.

Plus January takes a lonnnngggggg time to come until the next payday.

? Budget: You need to look at your categories and allocate funds to each area. For example groceries, decorations, gifts, travel, and giving. Stick to your limit and don't overspend.

? The Art of Receiving: Because someone buys you a gift doesn't mean you have to reciprocate. This might sound harsh but it's not do for do. Learn how to receive without feeling you need to earn it.

? Set a Dollar Amount: Have a conversation with your loved ones regarding the limit you'll spend on gifts. When I worked in corporate we did a gift exchange every year. We pulled a name and we set a dollar amount that we couldn't go past which was about $100.00.

If someone wants to go over, that is at their discretion. This step removes the pressure on people to exceed their budget.

? Give yourself grace: There are 12 days of Christmas but the main event is ONE day. Don't sweat over the things you can't do especially if your financial situation has changed.

? Ignore the Joneses: This is not the time to compare yourself to your neighbour when you see the truck dropping off new appliances. Focus on what matters to you and what's in your bank account. Don't try to impress people who aren't checking for you.

? Be Thankful: It's so easy to look at what you don't have and believe you're missing out. As a child, we got gifts from everyone and felt like a million bucks but you realize this isn't the case when you're adulting. So take account of what is going well in your life and have a spirit of gratitude.

Let me know which point above resonated with you the most and feel free to add any more tips for the holiday season in the comments.

Till I write again ??

Marcia

My Updates

I am conducting a FREE Master Your Money Masterclass: The 3-Step Framework to Money Confidence on November 30th at 7:30 p.m. AST. We have limited space as registrations have been ongoing.

Register for this event here so you don't miss it.

At the end of this event, I will also be launching my first personal finance course, The Wealthy Millennial Society. It's an 8-week online course for millennial corporate professionals. More details will be shared in the coming days but I am super excited ??

Marcia N. Armstrong is a multi-award-winning financial coach, personal finance expert, global speaker, mentor, executive contributor for Brainz Magazine, and corporate trainer. She is the co-author of the Amazon?#1?International Best-Selling book, 'No More Breadcrumbs Sis, We Buying The Bakery' . Marcia will launch her first personal finance course, 'The Wealthy Millennial Society' in the Fall.?Click here to join the waitlist.