How To Set Financial Boundaries Around The Holidays

Oscar Wong via Getty Images It's tempting to overspend during the holidays. “It’s easy to get swept up in the excitement of the holidays and spend money without thinking about the consequences ― but setting clear boundaries will keep your financial goals top-of-mind,” said Jacqueline Howard, head of money wellness at Ally Bank. “Some folks save all year long for the holiday season, but if you didn’t prepare that far in advance, decide now on an amount you will spend and try your best to stick with it.” Setting clear limits for different holiday spending areas will help you avoid making impulse purchases. “With high rates of inflation, don’t feel shame if your holiday season might look different than years past,” Howard said. “When it comes to setting financial boundaries this holiday season, be hyper-aware of emotional triggers, social pressure, and today’s gift-giving culture,” Howard said.