Managing Financial Stress During the Holidays – from the Live Well, Work Well Newsletter
If the holiday shopping season stresses you out, you’re not alone. Research by financial services company Bankrate revealed that more than half (54%) of holiday shoppers expect to feel financially burdened this holiday season as they anticipate overall high costs.
While American consumers no longer face inflation levels like last year’s holiday season, they are still concerned about costs. Bankrate estimates that 87% of holiday shoppers plan to use at least one money-saving strategy, such as:
- Buying fewer items
- Seeking out more coupons or sales
- Starting holiday shopping earlier
- Purchasing cheaper brands
- Making gifts or crafts
- Obtaining more used or secondhand items
Financial anxiety and stress can be debilitating. Consider these Bankrate tips for managing holiday-induced financial stress and anxiety:
- Discuss low-cost ways to celebrate with family and friends.
- Get comfortable with saying no to additional spending.
- Establish a realistic holiday spending budget.
- Make shopping lists.
- Download apps for rewards, discounts and cashback.
- Practice mindfulness when you’re feeling stressed.
- Find joy and practice self-care.
If you’re feeling significant stress, consider talking to a mental health professional for guidance and support.
Employees and members of their households have access to Marquette’s EAP, LifeMatters. Counselors are available 24/7. Call (800) 634-6433. Find other emotional health resources on the Employee Wellness website.