Holiday Spending Hacks: 12 Steps to Build Wealth This Festive Season

Everyone's Talkin' Money

Shari Rash

Business, Self-improvement, Education

4.6 • 631 Ratings

🗓️ 27 November 2024

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The holidays are here, and with them comes the chaos of gifts, parties, travel, and yes—financial stress. But what if this season, instead of just surviving, you started building wealth? In this festive episode of Everyone’s Talkin’ Money, I’m breaking down the 12 Days of Wealth Building—a countdown of 12 small, actionable steps to boost your financial health during the holidays and beyond. From creating a holiday spending plan to starting a savings account for next year, these tips are designed to be fun, practical, and totally doable—even if you’ve already started the holiday shopping spree. Get ready to finish the year strong and kickstart 2024 with confidence and cash in your pocket. What You’ll Learn in This Episode: Why 70% of Americans overspend on holiday gifts—and how to avoid it. How to create a "Holiday Debt Escape Route" to keep your finances in check. Why canceling just $50/month in unused subscriptions could turn into $8,300 in 20 years. 12 simple actions you can take right now to finish the holidays with your finances intact. LINKS Follow me on Instagram Courses + Workshops + Money Coaching Information SPONSORS Thanks to Jenny Kayne for sponsoring the show. Get 15% off by going to http://www.jennykayne.com/etm15. Thanks to Money Picked for sponsoring the show. To schedule a FREE meeting to figure out your next financial steps, go to http://www.moneypickle.com/etm. Thanks to Wildgrain for sponsoring the show. Wildgrain is offering our listeners $30 off the first box - PLUS free Croissants in every box - when you go to http://www.wildgrain.com/etm to start your subscription. Thanks to Mint Mobile for sponsoring the show. To get your new 3-month premium wireless plan for just 15 bucks a month, go to http://www.mintmobile.com/ETM . Thanks to OneSkin for sponsoring the show. Get 15% off OneSkin with the code ETM at https://www.oneskin.co/ Thanks to Quince for sponsoring the show. Go to http://www.quince.com/etm for free shipping on your order and 365-day returns. Thanks to NerdWallet for sponsoring the show. Don’t wait to make smart financial decisions. Compare and find smarter credit cards, savings accounts, and more today at www.nerdwallet.com. Thanks to Monarch for sponsoring the show. After trying out Monarch for myself, I understand why it’s the top-rated personal finance app. Listeners of this show will get an extended thirty-day free trial when you go to www.monarchmoney.com/ETM. Thanks to ButcherBox for sponsoring the show. Sign up today at www.butcherbox.com/etm and use code ETM to get $20 off your first order. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey, it's Shawna and welcome to everyone's talking money.
0:12.0	In this episode, I am serving up something super festive, the 12 days of wealth building.
0:18.4	Here's the deal. The average American spends about $1,50 during the holiday season,
0:23.9	and for 37% of people, that money goes straight onto credit cards. But what if you use this season
0:30.0	not just to survive, but actually to build wealth? These 12 actions we're going to talk about
0:35.9	will help you create financial health that
0:37.7	last long, long after the layover of the holidays. So buckle up because we're diving into
0:44.3	strategies that are fun, actionable, and yeah, they might just blow your mind. I had this idea for
0:50.9	this episode because I think when we get to the end of the year, we are super
0:57.0	reflective and also looking forward to the next year. And as we go into the holidays, there's a lot
1:03.3	of decisions we make about how much money we spend and what we do with the end of the year
1:08.4	bonus and all of these different decisions that have ripple effects.
1:14.5	So why not look at the next few days or the rest of the year as a chance to actually build wealth?
1:23.3	I thought it might just be something interesting to examine.
1:26.9	So on day one, we're going to talk about
1:28.4	the gift budget reality check. So let's kick things off with a stat. About 70% of Americans
1:37.3	actually blow their holiday budgets. And that overspending often leads to months of financial
1:43.9	regret and shame.
1:45.8	You might have experienced this yourself.
1:48.2	I know I have done this many, many years.
1:50.3	So there's absolutely no judgment or blame here.
1:54.1	So on the first day of wealth building, your goal is just simple.
	...

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