For many of us the holidays are joyful, and for others they are stressful (realistically, a combination of both!) – family stuff, cold and flu season, anxiety about gift giving? There is something for everyone! In this episode of Financial Clarity for Doctors, Corey and Rachelle discuss some ways to approach gifting a bit more thoughtfully to reduce your stress around at least one aspect of the holidays.
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Gifting with family and friends:
- When giving gifts to family and friends, make sure you establish reasonable expectations that work for everyone.
- You don’t want to make competitive gift-giving a sport in your circle, creating stress and possibly spending more money than necessary.
- With kids, redirect their attention to things that are not gifts. So many things to enjoy during the holidays! Yes, they will want presents, but it doesn’t have to be the only thing that brings them happiness.
Charitable giving:
- There is no right or wrong answer here, but if you are charitably inclined, this is a great time of year to gift.
- Set a budget for gifting and then find causes that align with your values (Charity Navigator has a great search function).
- Sometimes there are matching donation campaigns which make your impact larger.
- You can involve family and/or kids! They can help you select organizations or even participate in activities like putting together cold weather kits for the houseless.
Giving is supposed to be about bringing joy to those receiving gifts, not stressing out the person giving the gift. We can get back to that with a little thought. Happy Holidays everyone!
For more financial planning tips from Corey and Rachelle, find them on social media!
LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance
Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.