by Ray’Chel Wilson, Certified Financial Education Instructor®
Oh, the holidays. A time when money & mental health are often stretched & fluctuate. What’s the best way to enjoy the holiday season? Holistically! Ask yourself these 3 proactive questions to make this holiday season the best one yet.
The Big 3
- Q: How does money make me feel?
Do you think money is the root of all evil or a tool? Do your interactions with money make you feel positive or negative? What experiences, as a child or adult, formed these feelings?
Becoming more aware of our money story allows us to have more control over our money flow. As new realizations arise, make an actionable plan to address those feelings like finding a licensed therapist or seeking personal finance education.
Plan your money flow or don’t plan for more money to flow.
- Q: What are my values and boundaries?
Values should guide your life and day-to-day decisions. Your values are what you stand for in any situation. The more you define your personal values, the more you’re able to define your boundaries.
For example, if you highly value freedom, you may need to decline any requests around the holiday that will push your time freedom or money freedom beyond what is good for your mental health.
The more you think through your values and your boundaries, the more prepared you are to articulate what you are most comfortable and not comfortable doing, especially on the topics of mind and money.
“Stand for something or fall for anything.” – Unknown
- Q: How am I paying it forward this holiday season?
It’s better to give than to receive. Yes, I know, it’s hard to hear that phrase when money is tight or the holiday events bring unease. However, if you can access this article, you are more blessed with access than most of the population.
Can you fit in 10% more to give to your community? Whether donating to a local nonprofit or school or tithes to a local church, it pays to pay it forward.
Another way to pay it forward is by paying your future self! The holiday season is the perfect time to plan to gift yourself assets like stocks & cryptocurrency, while the market is down and assets can be purchased at a lower-than-average price.
Reflect on the above questions, as well as anything that comes to the surface for you!
Now that you know what you do, what will you do with it? Finish the following questions on your own:
- I will honor my mindset, values, and boundaries by ….
- I will prepare my money, values, and boundaries by …
- My next steps are …
Plan it, do it! Baby steps daily. You’ve got it!
Affirm: I have a healthy mindset about money.
Ray’Chel Wilson, CFEI®, a Toledo native, is the author of the Black Wealth Freedom series and CEO of Raise the Bar Investments, all things minority-friendly personal finance, #ForOurLastNames. Ray’Chel is an advisory board member of the Phe’Be Foundation, a Cleveland-based nonprofit fighting financial illiteracy across age ranges.