How to cope with holiday financial worries

How to deal with holiday financial worries

Personal finance expert Rachel Cruise and mental health expert Dr. John Deloney talks about how not to feel guilty about spending less on gifts this holiday season.



Christina: It’s Cyber ​​Monday. I have already started shopping. This means many of you will be getting that laptop, tablet, phone and doing some shopping. Although we are getting deals the prices are much higher than what we have seen in the past. Jason: According to a new report by Ramsey Solutions, nearly half of Americans aren’t planning to cut back this Christmas just to look at their finances, but I’d say they’re looking at them as well. During the holiday season we’re bringing in the experts to help us overcome these feelings. We have personal finance expert Rachel Cruz and mental health expert Dr. John Deloney. good morning >> thanks for having us. Jason: The holidays are hard and it can be hard on people. With inflation hitting a 40-year high, it’s no wonder people are holding back and that leads people to feel guilty. >>>> Spending can be difficult because you are stressed and have Christmas coming up and feel like you have to meet the expectations of friends and family and your own children. It’s important to be objective and gut — intentional — with your money. Setting a Budget — A budget will help you. You can list everything you will spend, even if it is a gift. Whatever it is, you take the budget and say here are the line items and here’s the dollar amount that I want to spend and what have you for Christmas mind — reduce the budget amount. Christina: Stick to that budget. You tend to be positive about it and say you have a budget, but it’s like I can spend extra. Jason: You see that cell email. Christina: Let’s talk about the state of personal finance. A study revealed that 40% of Americans have had an anxiety attack due to financial stress. Talk about some ways we can combat anxiety and improve our mental health? >> i have fallen into a trap. I have two young children to look under the Christmas tree and decide how many parents there are — and what a terrible scorecard for my relationship with the kids. Money makes us anxious. Five — oh some money, my body knows I’m not safe and when I find myself anxious, I’ll be very intentional about creating a holiday that I’ll have — and stop me and have hard conversations with our loved ones and each other. Do and we’ll create a holiday season that will likely include fewer purchases. It will be more calm and peaceful. Jason: You put — something further about the comparison game. Dr., you said — you think how good of a parent I was when the presents were under the tree but there are so many people comparing themselves to other people. How can we avoid being upset by it? >> In Instagram, people will post their efforts — their gifts. It has gotten out of control and what do you have to do. Turn on the blinders. Focus on yourself and your family and we start the comparison game, it tells you — your own insecurities. It’s never a money problem. There’s stuff beneath the surface and when you point it out, you can take control. You might say, I think everyone is going on a big trip and I need to pick up — carry on. It is focusing on your family goals. It is important. It’s hard to do but good practice to start this year. Jason: Okay. Christina: Dr., we have one more time for questions. The holidays can be a difficult time of year for those who are grieving or lonely. Five days before Christmas, we lost my sister, so let’s talk about people who can’t wait for the holidays and are trying to find a way through that grief. >> Holidays are either or. Those are the magical moments and moments of great loss where we sit at the table and someone should be sitting in the seat and not there. A great way to start the grieving process, you can avoid it. The greatest gift you can give yourself is to move into the middle of it, and a great practice is to write a letter to that person, telling them how much you miss them and if you miss this group with you, and your Read the letters out loud and it will be a sad and morning time but it is a great time of connection and healing. Jason: That’s good stuff. We d. — DEEP went here.

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How to deal with holiday financial worries

Personal finance expert Rachel Cruise and mental health expert Dr. John Deloney talks about how not to feel guilty about spending less on gifts this holiday season.

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