This is the time of year people have a tendency to overspend and focus on items that are eventually outgrown or become bored with. Some items are returned or stored somewhere in the house never to be seen again. No use for it, don't like it or just don't want it and not even worth the time it takes for a store return. If you are living pay check to pay check, it would be to your benefit to spend wisely.
Once the holidays are over, take a moment to count the money you spent on the spirited holiday season. How much money did you spend or family spend on you? Really, is it the gifts that make the season? Is it who can out do each other in quantity or cost? Keep your spending in check and don't allow the demands of family and friends break your budget.
This is the time of year to evaluate your financial health particularly financial stability. If you truly want to give the gift that keeps on giving, take a good look at your financial health and see where improvements can be made. Do you have a life insurance policy in place or a catastrophic plan? If you really want to outdo your neighbor or friends, buy your family financial stability.
The new "it" gift is financial security and peace of mind. Look into purchasing a life insurance policy or a growth and income annuity for your children, grand-children, niece, nephew. By doing so, you are enabling a financial head start and securing low monthly premiums. A whole life policy will earn interest and cash value. A term life policy on yourself is a sound way to transfer money upon your death tax free. You work hard for your money, make your money work hard for you.
Celebrating the holidays is fun and exciting but you don't have feel the pinch in your finances. Be practical in spending. Gift giving is a nice gesture, but financial peace of mind is nicer.
Trisha M. Pacenti RN,BSN