It’s already that time of year again. The holiday season is a magical time of family and fellowship that many of us look forward to but for some reason, the holiday season is also considered the most depressing time of the year. To create that magical feeling we all look forward to as soon as we see snow on the ground, a financial investment is often required. From gifts, to decorations, to food, and entertaining, the holidays are not cheap. In fact, according to one survey, the average Canadian spent about $1300.00 on Christmas in 2019. While this budget certainly shrunk during the pandemic, there’s still a lot of pressure to make the season of plenty extra plentiful.
There are many reasons why we feel the impulse to spend a lot during the holidays. Firstly, there’s the desire to please our families and create magical memories for our children and other loved ones. Overspending is a completely normal reaction to being excited to celebrate with family and see their happy faces when they open their gifts. There can also be a desire to keep up with others or meet standards we put upon ourselves as a result of what we’ve picked up from social media. No matter what the case, surely, most of us would like to end the holiday season out of the red. How can you do that? Keep reading to find out!
You’ve probably heard this before but setting a budget is the best way to keep your spending in check. That said, very few of us know exactly how to create one. Of course, the first step is to decide exactly how much money you’re okay with spending. How should you arrive at that decision? It can be overwhelming to decide on an overall budget so, as with any large decision, the easiest course of action is to break up the task into smaller, more manageable chunks.
For example, most people allocate Christmas spending to gifts, entertaining, travel, and decorating. Take a look at these four areas. Approximately how much did you spend on each of these before? Do you think that the amount of money you spent for gifts last year was appropriate? If not, according to your income, what’s a more realistic figure? Remember that there are multiple expenses associated with each gift such as wrapping and cards. Is there a way for you to cut down on those areas? Surprisingly, there are many ways to cut unnecessary expenses.
Firstly, setting expectations among family members is an excellent way to keep your expenses on the lower end of your budget. Others might cause you to go overboard simply because they have no idea you’re planning to cut back this year. Remember what the holiday season is all about – spending quality time with friends and family. What better way to do that than to create something together. Why not try to DIY your decorations and gift wrap. The holidays are a beautiful time that symbolize family, love, and joy. Overspending and financial stress have no place in your Christmas. Here at AHCS, we believe that every family deserves a stress-free holiday season. That’s why we strive to provide outstanding healthcare staffing services to support families in need.