Have yourselves a Merry Little Christmas!!

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Christmas 2023 is here! The shops, cafes, hotels and the roads have just seen that increase in the number of people – sure sign the holiday season is here!

While it is the most wonderful time of the year – it is not necessarily so for everyone. The holiday season is the time when a lot of people report feeling anxious, sad and unhappy – the effects of the social pressure to keep up.

The over-the-top celebrations – presents for family and friends, Christmas lunches, holiday plans, and special shopping days such as Black Friday and Cyber Monday that stretch into weeks, to allow you the opportunity to shop for it all at discounts!

This extreme commercialisation as much as it could mean the taking out of a second mortgage for some, there are steps you could consider/take that help manage the holiday season better. Here are some things you could do:

  • Follow or create your own family traditions. These don’t necessarily need a whole lot of money to fund but will surely build memories for years to come. This also helps you and the family move away from “what everyone is doing!”
  • Allocate a budget to your Christmas spend – often things have a short shelf life. Think about experiences and things to do instead.
  • Take advantage of the many free council-sponsored activities; visit parks.
  • Plan ahead – buy things as they come on special.
  • Use the time off (if you have any) to review – your loans, private health, and general insurance cover.

The start of the New Year following the festive period is often a convenient “reset,” but wouldn’t it be nice to start the new year – with great memories and greater control over your finances rather than the oft guilt-ridden New Year’s Resolutions?

Niyati Khanna (CFP® Professional, CA, MBA [Finance & Strategy]) is an Authorised Representative of Alman Partners Pty Ltd, Australian Financial Services Licence No: 222107.

Any information provided to you was purely factual in nature. It has not been taken into account your personal objectives, situation or needs. The information is objectively ascertainable and is not intended to imply any recommendation or opinion about a financial product. This does not constitute financial product advice under the Corporations Act 2001 (Cth). It is recommended that you obtain financial product advice before making any decision on a financial product such as a decision to purchase or invest in a financial product. Please contact us if you would like to obtain financial product advice.