4 Tips to Help You Stick to Your Budget This Holiday Season

By Ann Arceo, AAMS®

While some of us may not feel like celebrating this year, others may feel like the holidays need to be extra special. In our household, we’re not spending on travel, but our gift list is longer because we want to send more presents to friends and family we won’t see in-person. We also bought some new decorations as we wanted the house to be festive while we’re spending more time at home. It can all add up to a lot, and the excitement of a new year can quickly be ruined by a large credit card bill from your December shopping spree. 

Here are a few quick tips that we’re following to manage our holiday budget:

Making a List & Checking It Twice

The first step in making a holiday budget is knowing how much you have to spend. This should ideally be cash savings and not credit cards. If you find you’re short on cash, you should consider setting up a savings account next year and contributing a small amount to it each month. Once you know how much you have to spend, the next step is to list your expenses including the gifts, decorations, wrapping paper etc. that you need to buy. If you’re over budget, then you may need to decide what you can cut such as reusing the decorations you currently have and checking out the dollar store for wrapping paper and gifts bags. 

Host a Virtual Secret Santa

My husband’s family lives out of the country so we won’t get to see them this holiday season. We decided to draw names so we could focus on buying one nice gift instead of gifts for everyone. We’ll buy it online at stores that offer free shipping and then host a Zoom party to open presents together. It’s not the same as seeing each other in-person, but we’re so grateful for technology during this time. 

Send a Treat While Also Supporting a Local Business

This year has certainly been hard for many local businesses who have had to face closures and other restrictions. Check with local restaurants, bakeries, and florists to see if they are offering delivery. You could have a meal, dessert, or flowers sent to a friend, neighbor, or loved one that you can’t get together with during this time. You don’t have to spend a lot to send someone a treat that is sure to brighten their day. 

Shop Smart

Online shopping has soared this year. While it’s certainly not the same experience as going to the store, online shopping can help you stick to your budget. It allows you to quickly check products across multiple stores to find the best price. Many stores will give you a discount code if you join their mailing list. You can also take your time and do your research, which can help you avoid buying gifts on impulse. 

The holidays can be a magical time of year, but don’t let the magic hurt your finances. If you plan ahead, make a list, and shop smart you can have a wonderful holiday without overspending. You’ll thank yourself for it in the new year. 

Tips for a COVID Thanksgiving

By Kerrie Beene, CFP®

Happy Thanksgiving Week! It is a happy and sad time all wrapped up in one turkey.

We all have things to be thankful for while at the same time most of us are directly or indirectly affected by COVID. In this unfortunate time, 2020 Thanksgiving will not be the same for most. For me personally, we have decided to take precaution and cancel our normal gathering with my grandma. It was a hard decision but a few of the family members will be visiting her to keep her mental health in the forefront. While this is not ideal, keeping both our mental and physical health in good condition is the most important thing at this time. This situation will be the case for many, here at Rooted Planning Group we put together a list of things we can all do to stay mentally healthy during our COVID Thanksgiving.

1) Respect and Acknowledge your Feelings

This may sound corny, however, sometimes being able to recognize how we feel is the most important step. Not allowing ourselves to be trapped in our emotions will allow us to be more in control of our response to these emotions. Most people avoid emotions because they are uncomfortable. This is counterproductive and only creates a cycle of internal turmoil. Psychology Today lists the following steps to identify our feelings:

• Take your emotional temperature

• Identify your Stressors

• Notice if you start judging what you feel

• Speak about your feelings

• Let go of the fear

2) Reach out to Loved Ones

This is such an easy thing to do but too often does not happen. Reach out to family and friends that you are not able to spend time with. The small things can mean so much to some, especially those who live alone. Below are a few creative ways to make your loved ones feel special:

• Call and spend quality time on the phone with them or facetime them

• Mail them a card or care package

• Put together a video for them

• Send them flowers

• Deliver a meal (COVID safe of course)

• Play a game over Zoom

3) Feed your Mind

Being mindful of what we eat and how it will affect our emotions is very important. We would never recommending taking away the sweets, instead we will recommend some healthy food to incorporate to boost your mood.

• Turkey - contains tryptophan and is a mood booster

• Spices - get to seasoning. Spices such as cinnamon, will lift those spirits.

• Leafy Greens - these have mood and energy-boosting vitamins and minerals, such as folate, which regulates the production of serotonin

• Color up your plate - eat a variety of fruits and veggies for all different types of health benefits

4) Keep Active

Staying active is hard to do during the holidays, especially during COVID. Spend time relaxing and unwinding, however, block off a few hours to get in some physical activity. You can always go for a brisk walk, do a short workout, or find a project to complete around the house that you have been putting off. Regardless of your activity, the important thing is not to be a couch potato and let yourself feel sluggish. When our bodies feel this way, it leads to our minds feeling this way.

5) Give Thanks!

This one is easy to say but remember to actually do it. This can be paired up with reaching out to a loved one. Thank someone special in your life. Make a phone call or video for someone special thanking them for being them and being part of your life.

We hope this article is helpful during the COVID pandemic and from everyone here at Rooted Planning Group, Happy Thanksgiving!