It’s the holiday season and hopefully there is a lot of fun, family, friendship, festivity and general good times too be had by all. It’s also a very busy time of year. There are demands on our calendars, our wallets and pocketbooks, our diets and much more.
Anyone that’s taken a flight on an airplane has heard the instruction about taking care of your own oxygen mask first before helping others next to you. Well, at this busy time of year it’s a great reminder.
You might wonder what this has to do with financial planning. Well, it has a lot in common.
During the holidays, we’re bombarded by constant advertising about the latest greatest device, bobble or food product we all need. The advertisements put pressure on us to believe that we need these things to keep up with everyone around us, to be the cool people and to generally keep up with each other. We are also overwhelmed with social events that can take up a lot of time and money as well.
Overall, it’s a time we get pulled in many directions and we often see budgets blown as well as diets and exercise go out the window. Then, as the new year approaches, we see resolutions to lose weight, to get in shape, to stay on a budget and pay down debt, only to repeat every year.
Its really a time to take care of your self first. Have fun, but don’t forget the basics.
- Make sure to get enough sleep
- Follow a budget or set a spending goal ahead of time
- Don’t over-commit (I think we all do this)
- Try to squeeze in some exercise, even if only to keep up some momentum
The better we feel, the more likely we are to keep on track with our goals. We often forget to take care of ourselves first. We work long hours to allow time off on the holidays. We are rushed, so we grab food that is easy, but maybe not healthy. And- when it comes to spending, many studies show that we are more likely to be impulsive if we are not at our best and don’t have a goal in mind.
As always, we are here to help, simplify and to help keep your goals in priority.
Happy Holidays everyone -
Oxford Planning Group, LLC
