Skip to main content

Davenport Watts & Drake Investment Advisors, LLC

  • Home
  • About
    • Our Philosophy
    • Our History
    • Our Team
  • Our Services 
    • Asset Management
    • Retirement Plans
    • Financial Planning
  • Resources 
    • Our Newsletters
    • Our Blog
    • Useful Websites
  • Contact

    You are here

  1. Home
  2. Blogs
  3. Unwrap a Holiday Free of Financial Stress

Unwrap a Holiday Free of Financial Stress

Submitted by Davenport Watts & Drake Investment Advisors, LLC on November 8th, 2017

 

The stockings are already hung, candles lit, lights strung, and carols sung but the financial stress has begun to peek from behind the corners of brown paper packages tied up with string. Everything’s shiny and cozy but you can’t shake that feeling that you went way over budget this holiday. You’re not alone; holidays are a particularly stressful time for many financially. The average American spends $700 on holiday gifts and goods bringing the total to crest over $465 billion, according to the National Retail Federation estimates. The gifts add up quicker than the credit card statements can roll in and even the cost of the casseroles and cookies you’re bringing to the office holiday potluck can be a frustrating star atop the extra expensive tree.

With just a few easy changes to your holiday spending habits you can cut back the deep dive your checking account usually takes, and you can spend your New Year’s resolution on personal development instead of the usual freak out and vowing to save and spend smarter.

  • Make a budget…and check it twice. If you’re an avid list maker there is nothing more rewarding than making a list of all the gifts you want to buy your loved ones. But, when you make a list you automatically want to put more and more amazing ideas on the list leading to, you guessed it: overspending. Set your holiday budget of how much, total, you want to spend. Then break it down by person and keep in mind that it really doesn’t matter so much what the gift is as much as the effort put into it.
  • Handmade is a holiday hero. Speaking of effort, people love receiving presents that didn’t just pop off the conveyor belt in China. If you woodwork, quilt, paint, or are really good at making Pinterest-worthy crafts, don’t shy away from using your talents on your loved ones’ Christmas presents. You've then made something Instagram worthy and they get something from the heart.
  • Cut back on the “expectations” that don’t bring you joy. So much of the holidays is the socio-cultural norms that were ingrained in us growing up. Cut back when and where you can. For example, if you really hate sending holiday cards with the latest picture of the family and short (oh so sweet) letter about all the high points in the family then DON’T! Send a thought email or e-card and save on the cost of printing pictures and postage.
  • Secret Santa is a super saver. For large families have everyone pull a name out of a hat and that person is then the only one you have to buy gifts for. This ensures that everyone receives a nice personal gift, but everyone is not spending big bucks and time trying to find something for everyone.
  • Shift your paradigm: credit cards are short term loans. If you think of your credit card like a short term loan the immediacy to pay it off can feel greater. Also, pay close attention to interest rates—choose a card with a very low interest rate.
  • Like most things in life, procrastination doesn’t pay off. Last minute gifts and cards are always a little pricier, as will be the first-class expedited shipping you’ll need to get it there. Start your holiday shopping early and get the gifts going to your relatives across the country (or world) first.

Recent Blog Posts

  • Crisis: Danger or Opportunity?
  • Should We Be Concerned About Investing in Bonds?
  • Understanding Your True Risk Tolerance is Vital to Portfolio Performance

Archived Blog

  • May 2019 (1)
  • April 2018 (1)
  • March 2018 (1)
  • February 2018 (1)
  • January 2018 (1)
  • December 2017 (1)
  • November 2017 (1)
  • October 2017 (1)
  • September 2017 (1)
  • August 2017 (1)
  • July 2017 (1)
  • June 2017 (1)
  •  
  • 1 of 3
  • ››

Categories

  • Long-Term Perspective (17)

Contact Us

Don't hesitate to get in touch with us.
We would love the opportunity to become your trusted advisor.

Get to know us

Phone: (601) 898-8069
Fax: 601 853-8087

Email: shelia@davenportwattsdrake.com

234 W. School Street , Ridgeland, MS 39157

PO Box 2300, Ridgeland, MS 39158

Get Direction

Join Our Email List

Quick Message

  • Sitemap
  • Legal, privacy, copyright and trademark information

Davenport Watts & Drake Investment Advisors, LLC (DWD) is a Registered Investment Adviser, duly registered with the State of Mississippi in accordance and compliance with applicable securities laws and regulations.  In that the firm may only transact business in states in which it is properly registered as an independent advisor or in which it is exempted or excluded from the registration requirement, only residents of the State of Mississippi and those states with an established de minimis rule may receive investment advisory support services accordingly from DWD.  DWD does not render personalized investment advice over the internet.  In no event shall the presence of this website on the internet be interpreted or construed as a solicitation to provide investment advisory services outside of the State of Mississippi or outside of those states with an established de minimis rule regulating the sole and exclusive jurisdiction in which DWD is registered as an investment adviser.  In the future, should DWD seek to solicit investment advisory clients in states outside of the State of Mississippi or outside of those states with an established de minimis rule, an investment advisor registration would first be procured by the firm in such state or states outside of the State of Mississippi or those states with an established de minimis rule. 

© 2021 Davenport Watts & Drake Investment Advisors, LLC. All rights reserved.

Website Design For Financial Services Professionals