Giving Thanks On A Budget with Garrett & Sam
On this episode of Financially Naked: Stories from The Financial Gym, our hosts are Garrett and Sam, two Certified Financial Trainers at The Financial Gym. With holiday festivities just around the corner, they're here to discuss how to celebrate without going over your budget.
They share their insights on the power of planning ahead, clever budgeting tips for hosting and traveling, and most importantly, the art of giving thanks without the hefty price tag. Sam and Garrett remind us the essence of the season is truly family, friends, community, gratitude, and meaningful connections. If you find yourself going over budget, that’s okay because we can always get our finances back on track, but time is a truly limited resource and blessing.
Podcast Notes
The holidays are a time of gift-giving, gratitude, and gatherings. You want to be able to be present and fully enjoy, without going into debt or setting back your other financial goals.
It’s not about spending the least amount possible, but rather about being intentional. The holidays roll around every year, so planning ahead is possible!
Tips for sticking to the budget
Start with a budget, or at least, an idea of how much money you’d like to spend. Without a plan, things can add up quickly.
When hosting an event, ask guests to RSVP so you know exactly how many people to expect.
Ask your guests to bring something along. It’s polite to bring something as a guest, so letting people know what to bring ahead makes sure everything is covered. You can use a spreadsheet to stay organized.
Gatherings and Being a Host
Hosting can be a lot of pressure. Don’t feel obligated if it’s not within your budget.
You may need to have tough conversations with family, but just be open with them.
If you’re attending a party but can’t afford to bring anything, offer to help the host set up or clean up.
If you are hosting, taking the day off before can be a great opportunity to prepare and relax.
Catering is an option if you want to host but don’t want to cook. There are so many options, and it’s about doing what’s best for your budget, time, and energy.
Traveling
If your loved ones live in a different place than you, you’ll also want to plan for traveling costs in your holiday budget.
Start planning early and looking for your tickets in advance.
If you can travel a few days outside of the regular holiday rush, tickets will be less expensive and airports less hectic.
If you like to use points, save them throughout the year so you can use them to purchase your holiday travel accommodations.
If you’re able to travel with a carry-on only, you’ll save money and time without the checked bag.
Finding Ways to Give Thanks
There are more ways to give thanks or show gratitude outside of material gifts.
Your gatherings don’t have to be the most fancy or lavish. It’s about spending quality time with people you care about.
Have conversations with the people in your life and express your gratitude for them, especially if you only see them a few times a year. You never know when it may be our last time with the people we love.
Remember, money will come and go, but time is a resource we never get back. Prioritize spending time with the people you love and making memories.
If you’re looking for something to do on the holiday, look for local volunteer opportunities! It’s an amazing way to spend the day whether or not you have plans.
Final Reminders
Don’t be afraid to say no to things if they aren’t in your budget. The people who love you don’t want you to go into debt giving them gifts.
If you go over budget, that’s okay. There’s no need to feel guilt or shame. You can get your finances back on track and be better prepared in the future.
Remember to take care of yourself, focus on what’s important to you, and try your best to stick to the budget.
If you want to work with a Certified Financial Trainer to help budget for the holidays, schedule a a free warm-up call warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.
Resources
Meet The Trainers
Meet Garrett Faulconer, Certified Level 3 Financial Trainer
Meet Sam Cash, Certified Level 2 Financial Trainer