Setting financial boundaries isn’t easy, but doing so is essential for financial stability and peace of mind.
For many of us, the festive spirit of the holiday season brings with it a surge in shopping, travel, and social gatherings. The holidays can also mean more time with family and friends, some of whom may ask for financial support or persuade us to spend money in ways that don’t serve us.
While this time of year is synonymous with joy and giving, the pressure to meet expectations can lead to financial stress and instability. Indeed, about 25% of Americans are still paying off holiday debt from last year, according to WalletHub’s November 2023 holiday shopping survey.
Without clear limits in place, it can be easy to make decisions that don’t align with your values and financial goals. To prevent holiday spending from derailing your financial plans and set yourself up for long-term success, it’s essential to establish healthy financial boundaries.