Let’s talk money, honey- all about holiday spending

You might recall my last Full Flight video where I shared my ‘8 Tips For A Stress Free Holiday Season’. 

In it I talk about managing your holiday spending and how having, and sticking to a budget is one way to keep stress in check during and after the holidays. If you missed the video click here to watch it

 

Holiday Spending

So how about you?

Do you have a handle on your holiday spending?

Did you create a budget for this shopping season?

Over the last year I put a little extra money aside for kids summer camps and activities because they can be expensive, and I also set some money aside and for the spending heavy Christmas season too. It wasn’t a lot and in hindsight it would have been good to have saved a bit more but nonetheless it was nice to have a little cushion of money for the holiday festivities this year.

If you did have a holiday budget this year have you been sticking to it?

Are you keeping track of your spending?

I started off strong but after a busy spell I dropped the ball.

In the past three days I attended a funeral (sadly), had a lovely night out with the girls for our annual Christmas dinner downtown, drove to a couple of hockey practices, took a few trips to the grocery store, had my son’s piano recital and went to my folks place to cut down our Christmas tree (they have a Christmas tree farm on their property).

 

 

 

I went from one thing to the next and didn’t have a moment to think about what I was spending.

Aware that this was the case and noticing that my wallet was getting a bit out of control with receipts bursting out of it, I decided to spend a quiet morning getting organized. (There was also a big snow the night before and I had my youngest home sick so I didn’t feel like venturing out anyhow- so perfect timing!)

 

I collected all the receipts and bits of paper from my wallet and added them to the holiday receipts I had previously put in my desk drawer. This was followed by tallying up all the receipts (in the pic below) to see how much money we have spent so far.

 

 

With gifts, extra events, meals out, cards, wrapping, alcohol, postage, and for some, travel – holiday costs can really add up.

Looking at the number associated with how much we have spent so far I am feeling ok about it and it is lining up nicely with our Christmas 2016 budget.

Yay me!!

I don’t want a debt hangover come January as that is not the ideal way to start the new year is it?

 

Number Crunching

(*from Canadian Living and Statista)

I just looked up some holiday spending stats for Canada;

The average Canadian spent $766 in 2015 (so far we have spent under the Canadian average with about 7 more gifts to buy) with 21% spending over $800.00 and 23% spending $200 or less.

It seems we spend most of our money on children and partners and gift cards and apparel are the most popular gifts.

39% saved ahead for Christmas shopping in 2015 and 29% planned to set a budget for 2016.

The most organized shoppers of all?

That was the over 55 crowd.

The biggest spenders in Canada last year were the Atlantic provinces at 49% followed by Alberta at 48% and the Canadian average was 41% which was where us folk from BC fell (41%).

 

Interesting stuff…

I believe that knowing your numbers and mastering your finances equates with more power.

Money is energy and it pays -financially, emotionally, physically and spiritually to know where your energy is going.

 

If You Aren’t On Top of Your Finances

 

If you aren’t feeling on top of your finances, have no fear my friend!

If you can swing it, carve out some time for yourself to get clear on where you are at with your holiday spending. Pour yourself a glass of wine, put on your favourite Christmas music, grab your purse / wallet, gather up those receipts and dive in!

 

 

 

If the numbers look better than expected then yay for you!

If on the other hand they could use some work, make a commitment to yourself to stay on top of things from now on and consider setting some money goals for the New Year.

You future self will thank you!

 

…and it is good for all of us to keep in mind that although Christmas is all about the spirit of giving that doesn’t mean giving at the expense of your financial and mental well being. Hand made gifts, homemade baked goods, experiences as oppose to material possessions and donating to/ or volunteering for a charity are all great options that keep the true nature of Christmas alive and the good energy flowing.

xo

Eliz

PS As we are on the subject of gift giving….

If you are looking for a good book to curl up with in front of the fire I highly recommend this book –

 

 

Love Warrior – A memoir by Glennon Doyle Melton.

I have mentioned this book quite a few times this past fall because it is so darn good!

And on Sunday, January 8th my pal and fellow Martha Beck coach TJ Killoran and I are putting together a Love Warrior – one day workshop in Surrey, BC (Ocean Park) where we will be discussing this raw book and how Glennon’s journey can be an inspiration for our lives.  This bold memoir illustrates first hand how we don’t have to settle and play small, that we can stay true to ourselves and live courageous, grand, impactful lives.

It is going to be a FABULOUS day so if you are keen to join us and you haven’t already done so read this book! (and it would make a great gift for your sister or friend too!) Watch this space for more details about Love Warrior Day -coming soon!