Merry and Mindful: Building Financial Resilience for the Festive Season

The festive season, often dubbed the most wonderful time of the year, can bring about feelings of joy, love, and togetherness. But with social expectations combined with the endless list of things we need to stay on top of like gifts, decorations, travel and holiday feasts, the festive season can also lead to financial stress and anxiety for many of us.

Can you relate? We’ve got you covered! Our team at Salary Finance have gathered a list of simple and practical tips to help you feel at ease, both financially and mentally when it comes to festive preparation.

De-Stress Tip #1: Create a Spending Plan

At least a couple months before the festive season kicks off, sit down and assess your financial situation and create a plan. Make sure to include gifts, decorations, travel, entertainment, and other other expenses. Having a clear understanding of how much you will need to spend in each area will help you avoid impulsive purchases and keep you on track.

De-Stress Tip #2: Consider a Low or No Spend Christmas

We’ve all been guilty of endless scrolling through social media and comparing our situation to someone else’s highlight reel - end-of-year festivities often make this worse! Try to set realistic expectations and focus on the true meaning of the festive season rather than material gifts. Handmade gifts, DIY decorations, and volunteering can often be more memorable and cherished than expensive items. 

De-Stress Tip #3: Take Advantage of Sales and Discounts

Sales like Black Friday can be a great opportunity to get deals on gifts and other holiday essentials. Many retailers even start their post-Christmas sales early, which is a great way to snag last-minute bargains. However, remember to stick to your spending plan and only purchase items you planned for in advance. 

De-Stress Tip #4: Plan Ahead for Travel

Travelling during the festive season is pricey and only seems to be getting more expensive. Do you already have a rough idea of where you’ll need to be and when? Don’t wait any longer - booking flights, trains, taxis and accommodation early can often save you money. 

De-Stress Tip #5: Get Others to Contribute

Instead of taking on all the expenses, consider asking friends and family to contribute with different dishes and decorations, spreading the cost for everyone. It’s a great way to try new things as well! 

De-Stress Tip #6: Reflect and Look Ahead

Once the festive season wraps up, take some time to look back and reflect both on how well you stuck to your spending plan and any impact the festivities had on your wellbeing. What could you have done differently? Keeping these tips top of mind in the long run is an effective way to make sure you’re well prepared for a joyful and stress-free celebration each year.