How to avoid financial stress during the holiday season
ABC News - Dec 18th, 2024
The holiday season, while meant for celebration, can intensify financial stress due to pressures of gift-giving, travel, and social expectations amidst rising credit card debts and inflation. Experts suggest ways to manage holiday spending without exceeding budgets, such as setting clear spending limits, having honest conversations about financial situations, planning purchases ahead, and considering low-cost gifts or experiences over material items. Emphasizing mental health, experts recommend sharing financial concerns with loved ones and seeking professional help if needed. Additionally, creating new traditions that align with personal financial realities, like potluck gatherings, can help alleviate holiday stress.
RATING
The article provides practical advice on managing financial stress during the holiday season, supported by expert opinions and suggestions. It addresses common pressures related to holiday spending and offers solutions that are accessible and considerate of varying financial situations.
RATING DETAILS
The article accurately discusses the financial pressures of the holiday season, supported by expert quotes. The information is relevant and reflects current economic concerns like inflation and rising credit card debt.
The article primarily focuses on one perspective: managing financial stress during the holidays. While it provides multiple expert opinions, it lacks a counter-perspective or discussion on the benefits of holiday spending.
The article is clearly written, with a logical structure and neutral tone. It avoids emotive language and provides straightforward, practical advice.
The article cites credible sources, including Dr. Marketa Wills and Matt Watson, as well as shopping expert Trae Bodge. These sources provide authority and expertise relevant to the topic.
The article is transparent about its sources and the support it receives from the Charles Schwab Foundation, clarifying that the foundation is separate from Charles Schwab and Co. Inc.
