Most of us have seen the Christmas decorations going up as early as late October in recent years. From traffic lights décor all the way to retail stores decked out in red, green and white, Christmas time has come to represent a cheerful, happy holiday season. This time of the year has also notoriously become known as the silly season for a good reason.
With specials advertised all over, more people are likely to end up over-spending on unplanned purchases.
So why is Christmas not the best time to save?
One word can surmise the response to this question: temptation.
After working hard throughout the year, many people are looking forward to just relaxing and kicking back at this time of the year. Spending on gifts for loved ones often forms part of festivities. So it’s highly likely that the last thing on the minds of many people is saving.
Saving requires bucket-loads of discipline, which means that individuals would have to be able to withstand temptation to be spendthrift.
Saving also requires a plan, which means being able to stick to it for best results.
Christmas time is often not the best time mainly because of the inability of some people to stand by what they have set out to achieve through savings. For parents with young children, this time of the year often presents a time for giving. Buying presents and travelling to holiday destinations often forms the foundation of how to celebrate the festive season. Having young children often means buying gifts for them during Christmas time and creating wonderful memories for them. In reality, not many parents can withstand the pressure to spoil their little ones.
While Christmas is not the best time to save, there are behaviours that individuals can adopt in order to achieve their savings goals.
Most of us have seen the Christmas decorations going up as early as late October in recent years. From traffic lights décor all the way to retail stores decked out in red, green and white, Christmas time has come to represent a cheerful, happy holiday season. This time of the year has also notoriously become known as the silly season for a good reason.
With specials advertised all over, more people are likely to end up over-spending on unplanned purchases.
So why is Christmas not the best time to save?
One word can surmise the response to this question: temptation.
After working hard throughout the year, many people are looking forward to just relaxing and kicking back at this time of the year. Spending on gifts for loved ones often forms part of festivities. So it’s highly likely that the last thing on the minds of many people is saving.
Saving requires bucket-loads of discipline, which means that individuals would have to be able to withstand temptation to be spendthrift.
Saving also requires a plan, which means being able to stick to it for best results.
Christmas time is often not the best time mainly because of the inability of some people to stand by what they have set out to achieve through savings. For parents with young children, this time of the year often presents a time for giving. Buying presents and travelling to holiday destinations often forms the foundation of how to celebrate the festive season. Having young children often means buying gifts for them during Christmas time and creating wonderful memories for them. In reality, not many parents can withstand the pressure to spoil their little ones.
While Christmas is not the best time to save, there are behaviours that individuals can adopt in order to achieve their savings goals.
