It’s that time of year when most of us need to be intentional about our finances, particularly about how much money we spend during the holidays.
If you’re not careful, you can get caught up in the fun and festivities of the gift giving season and let loose more than you should.
When this happens, it can have major consequences on your budget for the upcoming year.
You know how it happens.
You overload your credit card, you buy gifts beyond your capacity to pay in full at the end of the month and in turn, you end up paying more for those gifts once the interest on your credit card kicks in.
I don’t want to take away your fun but I do want you to think about how overspending plays a role in the overall Life Planning Process.
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Why Budgeting Matters in the Life Planning Process
When I work with people to develop a life plan, they typically develop a plan because they want something more. They want their life to look different in the future than it does today.
Ultimately, they want to make changes to live a more purposeful and fulfilling life.
The good news is, many of them discover the clarity they need when they work through the life planning process. Clarity that helps them define their dreams and develop a plan to turn their dreams into reality.
However, most of them don’t have endless resources to make those dreams happen overnight.
It’s a slow process of building towards those dreams, one day, one month, one year at a time with the primary goal of being able to say, “I did it. I am living my dream.”
Therefore, an important part of building towards those dreams is setting up a money management plan. And part of that plan is not letting anything, including the holiday season, throw them off course.
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Stay Focused on the Goal
With that in mind, I want to urge you to stay focused on your long-term goals during this upcoming gift giving season.
Don’t let a few weeks out of the year throw you off course.
Promise yourself that you are going to honor your life plan so you don’t have to put it on hold just to dig yourself out of a holiday hole.
If you’re not intentional, it can happen very easily.
Gift Giving on A Budget
To help you stay on budget, I created a free worksheet called ‘Gifting on a Budget’. You do not need to sign-up to access. I provided for you below.
I hope it helps you stay a little more focused this year; to continue making progress towards your goals and life plan.
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