For: The opinion Updated Dec 25, 2022, 18:12 pm EST
Many Americans are experiencing financial stress due to expenses incurred during the Christmas shopping season; however, there are some strategies to reduce or control it.
Families sometimes have high expectations of Christmas gifts or seasonal vacation trips, whether it’s to reunite with family or find a little rest.
But these activities imply expenses that, in the midst of a scenario of high prices due to historical inflation, which last November it was 7.7% in its annual measurement.
The stress caused by Christmas shopping affects a significant portion of the population, because according to a survey by The Associated Press-NORC Center for Public Affairs Research, 57% of Americans say they it’s been harder to pay for gifts this year.
How to control the stress of Christmas shopping
1.- Make a budget and do not exceed it
A very good strategy to avoid the stress generated by the complications of January and make a budget for the start of the year.
According to Dr. Rebecca Brendel, director of the American Psychiatric Association, budgets help avoid decisions that may generate regrets and the stress of shopping that complicate the family economy.
When creating budgets basic expenses should always be prioritizedsuch as housing, food and transportation, in addition to considering the payment of debts.
2.- Simplify your purchases
If you don’t want to break your budget and still have gifts to give, whether it’s for year-end commitments or family traditions, gift cards can be a great option.
For some people, gift cards can seem impersonal; however, They guarantee that you will not go out of budget and you will avoid the stress of meeting the wishes of other people.
3.- Avoid buying objects and opt for experiences
There are always expenses that have to be made in other people and if the purchases of the Christmas season got you into trouble, it is best that you choose not to buy objects and better give experiences.
According to experts, most people need to be heardso giving time to create emotional ties can be a good option to avoid more debt.
4.- Distribute the end-of-year expenses
If one of your traditions is getting together with family or friends on New Years and it causes you stress the expense that this can represent when hostingone option is that you distribute the responsibilities, for example, that each guest bring a plate.
5.- Define the expectations of what you will give as a gift
There is no doubt that we all wish to fulfill all the wishes of our loved ones; however, doing so can bring financial complicationsnot only at Christmas, but on special dates such as birthdays and anniversaries.
Experts recommend that spending limits be established based on your ability to pay before going to stores.
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