SPONSORED CONTENT -- (StatePoint) Holiday season expenses are a given, but with a bit of planning and effort, you can easily include them in your budget. However, amid inflation, you may have concerns about balancing a merry holiday season with good money management.
CERTIFIED FINANCIAL PLANNER® professionals are sharing their top tips for keeping finances intact throughout the season.
Prioritize expenses: Examine your winter budget and see how much extra you have left for holiday-specific spending (e.g., gifts, decorations, hosting and travel). A financial advisor can help you adjust for these additional expenses, as well as fit a holiday budget into your long-term plans.
Remember, it’s important to keep your expectations flexible so that if you overspend in one area, you can reduce spending elsewhere. For example, if seeing family is a priority but visiting involves pricey airfare, consider suggesting a Secret Santa so that everyone is responsible for buying just one gift. Or, if you want to bring loved ones together to celebrate but need to trim expenses, consider hosting a potluck. Your guests might love a chance to contribute their favorite dish.
Find deals: Leverage technology tools to find deals when online shopping. Consider using a browser extension to automatically test coupon codes and ensure you have the lowest price possible or to learn when the price of an item has dropped.
Practice self-care: Give yourself the gift of a stress-free season by setting spending boundaries. This means being guided by your intentions, not peer pressure, when it comes to gift-giving, charitable giving and other areas where spending can become competitive.
Plan for next year: Get a head start on next year’s festivities by setting aside a little money from each paycheck into a high-yield savings account, starting now. Make this an annual habit to help ensure each holiday season can be enjoyed comfortably and to the fullest.
For help examining income and expenses during the holiday season, visit LetsMakeAPlan.org to find a CFP® professional near you.
It takes planning and care to have a financially healthy holiday season, but entering 2026 without additional debt will make it well worth the effort.
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