Top 4 Money Mistakes People Make During the Holidays!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 16 December 2022

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

There’s a reason why financial resolutions are always near the top of the list in January - many Americans spend the holiday season making financial mistakes. In this episode, we’ll discuss the top money mistakes people make during the holidays and how to avoid them. Check out our NEW course, Know Your Number! Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -Instagram -Twitter -Facebook -TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	For money mistakes people make during the holidays. It's Brian Preston the money guy
0:07.2	Restoring order to your financial chaos retirement investing taxing you've got financial questions
0:14.3	He's got financial answers. It's Brian Preston the money guy
0:19.6	Run I'm excited to talk about this because I'm hoping that we can save some of our people some pain because a lot of times in the holidays
0:28.4	We get caught up in the excitement and the joy and the general level of mariness out there that we make some less than ideal decisions when it comes to how we're
0:39.0	Navigating our financial decisions. Well, yeah, this is a this is the most specialist time of the year
0:44.5	I mean I really do get excited about Christmas and the holidays and and it's one of those things where it just you should be happy
0:51.7	But a lot of times people will take that excitement that energy and they'll manifest it into bad behaviors
0:59.3	So we're here to kind of help put a lecture joy in your holiday season
1:04.5	So we're gonna talk about some of the biggest mistakes that we see and it's interesting when you think about these mistakes a lot of them
1:11.0	We discuss Brian are caused by societal pressures. There are pressures around
1:16.4	What you should do how you should behave what you should purchase how you should fill in the blank and I think that leads us to
1:24.3	Not making decisions that are necessarily in our best interest or the best interest of our loved ones
1:29.1	But in the best interest of what society is telling us we ought to do so we want to encourage you
1:34.3	If you can this holiday season to buck that trend and not fall into those traps
1:39.1	So let's jump into number one and this is the easiest one overspending
1:44.1	Yep, this is a big one and I think a lot of people fall prey to this because it's easy
1:48.6	We get caught up in it and normally this starts around
1:53.0	That little special time in November when there's all of these special sales and we just start losing our minds
1:59.0	Right and we do it under the guys of I'm gonna get a good deal
2:02.3	I'm gonna get a good deal
2:03.2	I'm gonna get a good deal and then over the next 30 days
	...

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