Holidays are important for many reasons. They can help improve our physical and mental health, strengthen bonds with family and friends, and help us catch up on sleep. Holidays can also help us consolidate and process memories and make happy ones. They give people the opportunity to celebrate something important.

In addition, taking a break from work can help decrease burnout. It can also be good for business as it allows employees to recharge and come back to work refreshed and more productive.

Although holidays are a time for relaxation and enjoyment, they can also be expensive and stressful if you do not have the finances to pay for them and can force some families into debt.

Here are some reasons why it is important to financially plan for holidays:

1.    Avoid debt: Financial planning can help you avoid going into debt during the holiday season. By setting a budget and sticking to it, you can ensure that you don’t overspend on gifts or other holiday expenses.

2.    Save money: Financial planning can also help you save money during the holiday season. By shopping early and taking advantage of sales and discounts, you can get the best deals on gifts and other holiday items.

3.    Reduce stress: Financial planning can help reduce stress during the holiday season. By having a plan in place, you can avoid last-minute shopping trips and other stressful situations. 

4.    Enjoy the holidays: Financial planning can help you enjoy the holidays without worrying about money. By having a budget in place, you can relax and enjoy time with family and friends without worrying about how much you’re spending.

5.    Achieve your financial goals: Financial planning can also help you achieve your financial goals. By saving money during the holiday season, you can put that money towards other financial goals such as paying off debt or saving for retirement. 

Everyone should take advantage of holidays at least once a year and with a good financial plan in place, there is no reason not to enjoy time away from normal routines and try out new things on your own terms.

 August 2023