This holiday season is unlike any other.
You might not be sitting at the dinner table surrounded by friends and loved ones. Perhaps your gatherings are limited or maybe you’re waving to family from a computer screen, either way, things look different.
With the bliss of the holiday season comes the demands of your time, finances, and mental health. It’s vital to take some time to give yourself and loved one’s grace and gratitude during this season. But with such a tight schedule, how is that possible? Let’s find out.
Set healthy boundaries for yourself
It’s vital to set both financial and personal boundaries during the holidays. It’s all about balance — you can’t let your financial guard down and still keep up those personal boundaries. Your financial health and personal life are interconnected and with the stress of the holidays, it can be difficult to keep those both in check.
Due to the hardships of the pandemic, you may have experienced some financial setbacks throughout the year. This means that your financial contributions to the holidays may shift, and that’s okay. Be honest with yourself and do your best to not overspend and realize that nearly everyone else is in the same boat as you.
When it comes to the holidays, it can be easy to get swept up in the season of giving that you don’t realize how much you’ve spent until the bill comes in the mail. The overwhelming amount of spending and high bills can cause serious mental health setbacks.
Set financial and personal boundaries by finding new, intentional ways to gift. Take a look at your budget through a new lens and set a cap on holiday spending. Homemade gifts are a great, less expensive alternative to traditional shopping. However, a gift is not always something tangible, sometimes quality time together is more than enough (even if over zoom or with a mask).
Adopt an attitude of gratitude with your finances
Infusing gratitude into your life can have a significant, and surprising, impact on your finances.
Gratitude can alter the way you approach spending. You might find you spend less because when you spend, you do it with intention. Intentional spending forces you to think about why you want to purchase something.
- Will the purchase further your financial or personal goals?
- Will it make a positive impact on yours or someone else's life?
- Or will this purchase set you back?
- Is it too much of a commitment right now?
Intentionality can bring a greater sense of peace and purpose to your life. It can help you slow down, take a breath, and reflect on everything you do have, instead of focusing on what you don’t.
A more continuous practice of gratitude can open your heart to give where you can. Charitable giving is a vital component of your financial plan and personal goals. Donating your time, resources, and talents to a cause or organization you care about can bring more meaning and fulfillment into your life.
Reflect, recharge, and reset
Year-end is a great time to reflect. While there may have been many troubles or setbacks, it’s important to try to balance those thoughts with the positive aspects that arose from these changes. What new habits improved your life? What did you learn about yourself? How can you approach 2021 with fresh eyes?
Check-in on your financial goals. What progress has been made? Did any of your short-term or long-term goals need to shift? Are your goals for 2021 set?
As you reflect, take a step back from your everyday life and allow yourself to decompress. While year-end is a time of reflection, it can also be incredibly hectic. Make the time to do the things that give you a sense of inner peace— then you’re ready to take the new year on by storm.
Reflect on your time, recharge and gain the strength for the year ahead, and reset your goals and expectations to ensure success.
Don’t forget: Give yourself grace
Financial gratitude can change your life for the better. When you give yourself and others grace and gratitude, you bring more intention and fulfillment into not only your life but your loved ones as well.
Set both personal and financial boundaries and be strict with yourself. You may fall back into old habits, but don’t give up if you do. Success here is not linear— it’s a constant learning process that has a few bumps in the road.
If you need more structure navigating the holiday season, give us a call and we will take the next step together.