Five Ways to Reduce Holiday Stress

Updated:
August 28, 2019

The holidays can bring joy, but they can also bring stress. Whether you're worried about money, gift-giving, or finding enough time to get everything done, the following coping mechanisms can help you manage and reduce your holiday stress.

  • Get organized - Writing down the things you need to do or places you need to be can help you visualize your to-do list and make it seem much more manageable.
  • Know that it's OK to say "no" - if attending an event that isn't important to you will interfere with you getting work done or running errands, just say "no" politely.
  • Create and stick to a budget - Money is one of the biggest holiday stressors for people. Set a realistic budget this holiday season and don't go over it.
  • Ask for help when you need it - You don't have to decorate, wrap presents, or cook by yourself. Ask friends or family members to help you complete these tasks.
  • Focus on what really matters - People who focus on activities with others and relationships during the holidays report more happiness than those who focus on gift-giving.

Most Common Causes of Holiday Stress

Not having enough money
Not having enough money
Too much to do
Too much to do
Crowds
Crowds

FAQs

What is financial advising?

Financial advising involves providing guidance and advice to individuals, families, or businesses to help them make informed decisions about their financial matters. This can include various aspects such as investment planning, retirement planning, tax planning, estate planning, and more. Financial advisors analyze their clients' financial situations, goals, and risk tolerance to create customized strategies that align with their objectives.

Why is financial planning important?

Financial planning is crucial for several reasons:

Goal Achievement: It helps individuals set and achieve financial goals, whether they are short-term, such as buying a home, or long-term, like funding a comfortable retirement.

Risk Management: Financial planning addresses risks by considering insurance, emergency funds, and other protective measures.

Budgeting and Saving: It promotes responsible money management through budgeting and saving, fostering financial stability.

Wealth Building: Effective financial planning can lead to wealth accumulation and the creation of a secure financial future.

Can financial advisors help with debt?

Yes, financial advisors can help with debt management. They can assess your overall financial situation, create a budget, and develop strategies to pay down debt efficiently. They may also negotiate with creditors on your behalf, provide debt consolidation recommendations, and offer guidance on prioritizing and managing debt repayment.

What exactly does a financial advisor do?

The specific responsibilities of a financial advisor can vary, but generally, they:

  1. Conduct a thorough analysis of a client's financial situation, including income, expenses, assets, and liabilities.
  2. Develop personalized financial plans based on the client's goals, risk tolerance, and time horizon.
  3. Provide investment advice and portfolio management services.
  4. Offer guidance on retirement planning, estate planning, tax planning, and insurance.
  5. Monitor and adjust financial plans as needed based on changes in the client's life or market conditions.
  6. Educate clients on financial matters and empower them to make informed decisions.
What is the average fee for a financial advisor?

The fees charged by financial advisors can vary widely based on factors such as the advisor's experience, the services provided, and the region.

Common fee structures include:

Hourly Fees: Advisors charge an hourly rate for their services.
Flat or Fixed Fees: A set fee is charged for specific services or a comprehensive financial plan.
Asset-based Fees: Fees are a percentage of the assets under management (AUM).
Commission-based Fees: Advisors earn commissions on financial products they sell.
Combination of Fees: Advisors may use a combination of the above fee structures.
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It's important to discuss and clarify fee arrangements with a potential financial advisor before engaging in their services.