Harmony and Flow in December – Part 2

CDN moneyMoney Coach Nancy Zimmerman of Your Money by Design provides some very good advice on managing our spending as a way establish harmony and flow in December:

The “season” aka “Christmas” is soon upon us, and we all know the extent to which it can wreak havoc on our wallets. Even a money coach can acknowledge that, if ever there’s a time and place to overspend; doing so by giving to loved ones would be it! Here are three simple tips to help navigate your cash through the coming weeks.

1. Set up a bank account specifically for holiday spending. Free-or-nearly bank accounts are easy to come by these days (try Citizens Bank of Canada for an ethical bank, or President’s Choice for great deals too). Transfer funds into this account for spending, and use it as a control mechanism. You may need to replenish the account, but it brings a measure of consciousness to the process.

2. Set up a savings account for next December, since the issue is top-of-mind. Set up automatic savings transfers. Next year’s Christmas will feel wonderful with a pool of funds waiting for you.

3. In the words of Martin Luther, “Sin Boldly!” That is to say (in this context): if you are going to overspend, do it from a grounded, empowered position of, “this season is important to me. I am consciously choosing to do this to ensure one of my values is met. I am prepared to deal with the implications in January, and am resolved to be a bit more effective next time (see #2 above)”.

Warmest wishes for a delightful holiday,

Nancy (aka money coach)

my blog all about basic money stuff including case studies: www.nancyzimmerman.com