2023 brought with it a plethora of challenges!

Inflation UP!
Interest rates UP!
Financial stress UP!
Cash flow DOWN!

The Impact on the Holidays!!!!

So I wasn’t shocked when I read that 78% of Canadians are planning on reducing holiday spending this year.

A more conscious effort to reduce spending actually pleased this money coach!

Maybe as a society we were finally getting the hint that all of our unconscious spending was catching up to us?

Maybe we were trying to be more mindful of spending and its impact on our cash flow and stress levels?

The GRINCH makes his appearance

In reality, after doing some more digging, I realized that this reduction in spending had less to do with improved consciousness, and more to do with the dire state of people’s finances.

The same study from BMO stated that “On average, Canadians believe it will take three months to pay back their holiday bills.”


This means people are not prepared for their upcoming holiday spending, and are looking well into 2024 before they will have it paid off. Add in interest costs and cashflow chaos ensues.

I’m no different than you!

Before I present the solution, let me backup a second.

I am not judging you if you fall into this category, I promise.

I have been there, with a lack of planning for holiday expenses and very little consciousness around the reality of how much I actually spent. (TBH, I am kind of scared to go back and look at what was happening as little as 5 years ago)

The pattern of failing to address irregular (but often costly) expenses is one I see often with my clients. And even though many of my clients are earning great incomes, their cashflow gets thrown into chaos when these expenses come their way!

The solution

Working through the Money Fix Pro at my house got us planning in advance for irregular expenses, and making regular automatic contributions to savings buckets.

This means that as of December 1st, 2023, my 2023 holiday spending is all paid for (insert celebratory dance!)!!!

We save $200 per month in a Holiday savings account, which feels painless, and also amazing when I open up my Holiday account at the beginning of December to start spending (yes, I’m a procrastinator).

How can I help you?

If you are lost on how to get started with your automatic contributions, including how much to save, and where to save them, I’ve got you covered.

April and I are running our Annual Holiday Spending Workshop this upcoming Tuesday December 5th at 7ET. Join our Reboot Your Money Facebook Group where we host all of our free masterclasses.

Grab your eggnog, cozy up by the tree and expect to learn exactly how you can have reduced financial stress over the holidays in the future.

Together we can make sure the Grinch is nowhere to be seen.

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