This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
This can be the year you take off, and you’ll probably keep taking off afterward
How many Christmas gifts do you remember receiving through the years? Some of you will be able to answer this question in great detail, but most of us won’t remember.
The only gift I remember receiving as a kid was a remote control car; that was the best and only Christmas gift I remember receiving out of many gifts through the years.
I stopped buying gifts a long time ago. Every now and then, I will get a gift for my siblings or parents, but that’s about it. I no longer see the point.
Plus, why do we wait until Christmas to give a loved one a gift?
How’s Your Budget Doing So Far
If you’re like most people, you’re currently blowing through your budget buying yourself and others gifts, dining out, and investing in recreational or entertainment-type activities.
How will your bank account, credit card, and available cash flow feel after December 31st?
Far too many people will regret spending all the money they let go of this month. They’re going to ask themselves the famous question: Was it worth it?
Never Sacrifice Your Financial Health For Others
One of my friends is financially struggling, yet they still provide financial resources to others. I conveyed how mandatory financial boundaries are.
Curious, I asked them, “How is that panning out?” For the record, it’s not panning out too well at all. They’re building quite a deficit because they continue helping others more than themselves.
Give To Yourself First – Always
The holiday season boasts about giving to yourself and others, but the first person you need to give to is yourself, not on superfluous things, but long-term things of value like savings and investments.
You can also give to yourself by setting a budget for your spending and sticking to that budget.
Don’t deviate from your financial plan, or you will find yourself in a black hole by the time the holidays are over.
Back To The Gifts – To Buy Or Not To Buy
If you’re going to buy gifts, please ensure you have the following things in place:
All your bills are paid in full
No frivolous debt (e.g., credit card debt)
A healthy and stocked emergency fund for 6–12 months
Money in your investments (Are you on track or off track?)
If you don’t have these things in place, forget about gifts – unless they’re free. There is no point in frivolously investing money into a holiday that will not propel you in the right financial direction.
Your family, friends, lovers, and coworkers will be okay if you don’t get them a gift; they will survive. And your finances will thrive.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.