We are now in full swing of the Festive Season and it’s a good time to remember that spending more than you earn is fraught with danger.

As you prepare for the Christmas holiday period you’re going to be under lots of pressure to spend extra money. That’s why at this time of year it’s so important to consider your future dreams and the costs associated with making those dreams a reality.

Don’t make the mistake of spending more than you earn. After all, celebrating Christmas with a spending frenzy that results in putting your goals on the back burner is no reason to celebrate.

Your dreams for the year ahead might include a fabulous holiday, paying down your home loan faster, buying a new car or giving your career a boost with further education. Whatever your dreams are – unnecessary spending isn’t going to help you move closer towards achieving your dreams.

The important thing to keep in mind is that Christmas is not the time to give up on your goals and dreams. However, it is the perfect time to plan and give thoughtful consideration to what you do want to achieve financially. In return for your planning efforts – you’ll enjoy relief from any unwanted money stress in the year ahead.

So what does giving up on your own dreams look like?

  • It’s like giving up on yourself.
  • It’s like quitting and not having the resilience to keep going!
  • Or believing you don’t deserve to HAVE what you want.

What does planning for your dreams look like?

  • You feel inspired to achieve your goals and you go for it.
  • You make a commitment to change your money habits.
  • Accomplishing dreams is where your find satisfaction and fulfilment.
  • Achieving fuels your self-esteem, confidence and belief in yourself.
  • When you are achieving it puts a smile on your face and a pep in your step.
  • A sense of pride pulls your shoulders back as you share with your accomplishments with others.
  • Achieving your dreams gives you energy and excitement to set more dreams.

For many the festive season is an excessive time of food, alcohol, late nights, abusing the body mind and spirit, pushing your limits and partying hard. With excessive behaviour comes excessive expenses, so be wise, but not a minimalist, as it is Christmas time.

It’s also a good time to commit to an early New Year Resolution that supports your financial dreams.

Tips that will help keep your dreams alive:

A ‘Pact to Act’
Excessive money stress can often be funded with the use of credit cards. Approximately 80% of Christmas presents purchased on credit cards take up to 6 months to pay off. If you’re in the 80% category it’s a clear indicator you are spending more than you earn and creating money stress for yourself. If you are ready to make a ‘Pact to Act’, visit me on Facebook (@freedomchoiceacademy) and commit your early New Year’s Resolution! List two resolutions you will achieve and one that’s a stretch.

Identify your excesses
Reflect on the year that’s been. Were you excessive in certain areas, did you blow your budget on food, dining out, parties, presents, alcohol, and drugs? And how quickly did money stress catch up with you? Was it the next day when you didn’t have enough money to buy groceries or when you couldn’t afford to pay your credit card or electricity bill? Be realistic by identifying any money stress behaviours that need tweaking, but also acknowledge what you have done well in regards to money management over the last year.

Cleanse your space
Have a good look around the house and assess what you have purchased that was a waste of your money. Do you have any space left or are you overwhelmed with clutter? Consider what could be sold, given to friends or donated to charity.

Remember money mastery is when you regularly have some money left over, feel good about what you have spent it on and have no regrets as it amasses providing a deeper sense of financial security.

I hope you have found this blog helpful. Please share this with your friends to make a positive difference in their lives. In the meantime take care, if you have any questions or need help or guidance please send me an email or give a call on M: 0414 778 476.

Zoe is the director of Zoe Slater Counselling. She studied at The Australian College of Applied Psychology, Sydney Campus and completed her Diploma of Counselling and Communication at the Brisbane Campus. Zoe is an Associate Member with the Queensland Counsellors Association Inc and a member with Australian Counsellors Association.

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Finance Physiology, Finance Tips Money Stress To Success – Dream Keepers