it’s beginning to look a lot like….
by reeta bochner wolfsohn, cmsw

Bathing suits were still on the racks when Christmas merchandise started appearing on the shelves of many local stores and major chains. Now, even before the leaves have changed colors or fallen from the trees, retail businesses are gearing up for their major selling season.

Consumers spend more in the last three months of the year than at any other time. That is also the quarter when most retail businesses make the majority of their annual profits. That kind of spending may be good for the economy, but it isn’t necessarily good for YOU—the consumer. Retailers spend a great deal of time and energy motivating shoppers to spend their money, and wise shoppers must spend just as much time and energy preparing to be the best consumers possible.

If you want to be a more money-wise woman this holiday season and forever after, start by contemplating how your values and your beliefs have changed as a result of economic and world events in recent years (September 11, 2001, the war in Iraq, rising unemployment, sluggish economy, higher fuel bills, etc.). Then ask yourself how your behavior reflects those changes.

What are you doing differently now than you did in the past – personally, professionally and most importantly, financially? What skills are you using, what advice are you listening to and how are you managing on a daily basis? Does your spending reflect those changes and coping methods? Is your relationship with your money different?

In the last quarter of 2003, you will most likely have numerous occasions and opportunities to come together with friends and family and to reflect on the relationships that matter the most. As you begin planning your holiday celebrations, remember the importance of demonstrating your feelings and appreciation in ways that show you care but that don’t rely on spending money you can’t afford.

If you traditionally find yourself still paying for Christmas past as Christmas future approaches, the best present you can give yourself this year is a holiday you can afford. Now is the time to create a holiday spending plan that will give your holidays more meaning and give you less debt! Here’s how to begin:

• Overhaul your gift list. Determine whom you can eliminate from your list—thus reducing the number and the cost of your gifts.

• Be creative. Give gifts of time, gifts you make or bake, certificates for services (babysitting, gardening, dog sitting, etc.) you are willing to perform.

• Plan your shopping. Start early and take advantage of sales (avoiding the holiday crush and the temptation to impulse buy as the holidays approach).

• Budget. Make a budget you can afford and are willing to live with— then stick to it. Stay focused on the true meaning of the holidays. View gift giving as a way to demonstrate love and caring for others not as a way to burden yourself with more debt (the only thing debt gives is stress and problems).

If you find it difficult to imagine a holiday that costs less but is actually more enjoyable, remember that you have control of how you spend your money and your holidays. If where you are today isn’t where you want to be tomorrow, why not rethink and redefine your holidays in ways that contribute to improved outcomes?

Consider how much better your life would be if you had: Less debt. More savings. Fewer worries. Greater emotional stability. Increased financial security.

It may not be easy, but you absolutely can have all of those things. You already know and have everything you need to accomplish them. You have the ability – trust it. You have the aptitude – you were born with it. All that is left is to connect to the right attitude. Look inside yourself to find it - it is waiting to be discovered. Today is the day to begin, and your holiday spending is an excellent place to start.

Reeta Bochner Wolfsohn, CMSW is the founder of the Femonomics Institute. She is a therapist, author, and motivational speaker who has appeared on the “TODAY” Show and been written about in numerous national publications. The Femonomics Institute provides individual counseling, support groups, products and programs that help women to make more knowledge based decisions that create long term emotional stability and financial security.
[ 828-658-1919 - reeta@femonomics.com ]