Key Takeaways
- Americans are on target to spend an average of approximately $902 per person during the winter holidays this year on items like food, gifts, decorations, and other seasonal items.
- The holiday season often brings financial pressures that can affect our well-being. In fact, 58% of U.S. adults say they feel stressed about spending too much or not having enough money.
- A recent survey found that nearly half of U.S. adults said money has a negative impact on their mental health, including causing stress.
The holiday season is often marketed as the happiest time of the year. Yet for many people, the holidays come with a significant amount of financial stress. From buying gifts and hosting celebrations to managing other seasonal expenses, like car registration and property taxes, the pressure to spend can feel overwhelming.
For those already dealing with challenges like job loss, debt, or unexpected expenses, this time of year can magnify those struggles. Financial stress during the holidays often appears in the form of sleepless nights, stress eating, or feelings of sadness and depression, casting a shadow over the joy of the season.
Symptoms of financial stress
Financial stress can manifest in different ways, and it’s possible to be unaware of how stressed you really are. Signs of financial stress can include:
- Feeling worried and anxious about money
- Arguing with loved ones about money
- Feeling guilty when you spend money
- Physical symptoms like headaches, sleep problems, anxiety, depression, and more
If this sounds like you, you’re not alone. Talking with a mental health professional can give you the support and tools you need to successfully manage the financial and emotional challenges that often accompany the holidays.
Nine ways to manage holiday financial stress
Consider these tips for managing holiday-induced financial stress and anxiety:
1. Prioritize your mental health
Self care is a key way that you can prioritize your physical and mental well-being. Doing the things that you enjoy can have a positive effect on your overall quality of life. Try going for a walk, relaxing with a good book, or enjoying a favorite hobby. These acts of self-care can make it easier to cope with stress, lower your risk of illness, and increase your energy.
2. Focus on nonmaterial joys
Make meaningful experiences a priority this holiday season rather than indulging in material purchases. Studies show that being overly focused on possessions can have negative consequences on our well-being. In contrast, research shows people get more satisfaction from experiential purchases like travel, entertainment, outdoor activities, or going out to eat than from material purchases like gadgets, jewelry, and clothing.
3. Beat the holiday blues
Many people report feeling increased anxiety and stress during the holiday season — an experience known as “the holiday blues.” Seasonal factors like the expectations of gift giving, changes in your diet or routine, increased alcohol consumption, or the inability to be with friends and family can all affect your mood.
4. Set a realistic budget
To avoid holiday overspending, determine how much you can afford to spend on gifts, meals, and decorations, and stick to your budget. Having a clear budget can reduce anxiety and guilt while also offering you a sense of control over your finances.
5. Seek financial guidance
If you’re worried about financial stress affecting your health, help is available. Organizations like the Foundation for Financial Planning offer free financial advice and other services to consumers.
Talking with a trained mental health professional can also help. Financial therapy is a relatively new specialty in the psychotherapy field in which a therapist helps their client focus on the emotional side of money.
6. Learn to delegate
We often believe we have to handle everything ourselves, but that’s not true. Having emotional support can boost resilience and help us navigate stressful times more effectively. Delegating holiday tasks can ease the stress of the season and make the experience more enjoyable.
Consider making your holiday dinner a potluck event where everyone brings a different dish. Not only will you save money, you’ll also reduce the stress of cooking multiple dishes.
7. Stay hydrated
If you live with anxiety, depression, or another mental health condition, the added stress of the holidays can make your symptoms even harder to manage. During this busy season, it’s important to prioritize self-care, even in small ways.
One simple yet powerful step is staying hydrated. Research suggests that drinking enough water can help reduce symptoms of depression, providing a boost to your overall health.
8. Make time to relax
Whether you’re baking Christmas cookies or frying latkes for Hanukkah, remember to carve out some downtime to truly savor the season. Enjoy the holiday traditions that bring you happiness and take moments to relax and recharge.
A recent survey from the American Heart Association found that 71% of people regret not taking time to relax and enjoy the holidays, while 79% admit that, because they’re so focused on creating special moments for others during the holidays, they often forget to take care of themselves.
9. Recognize the symptoms of SAD
As the days grow shorter and darker, many people experience changes in mood, energy, and overall well-being. For some, these seasonal changes can lead to seasonal affective disorder (SAD), a form of depression that typically occurs in fall and winter. SAD is thought to be linked to reduced sunlight exposure, but it can also compound the stress of the holidays.
SAD is a medical condition that’s treatable. Talking with a therapist and using light therapy, practicing regular exercise, and building a support network can all help you effectively manage your symptoms and feel better.
Find care with Rula
If you’re grappling with financial stress over the holidays, you’re not alone. Many people report increased stress during this time of year due to money-related pressures.
Talking with a therapist can help you understand how your financial stress may be tied to deeper emotions, like fear of disappointing loved ones or past financial hardship. With support, you can learn how to challenge unrealistic expectations, build resilience, and develop strategies for managing holiday financial stress.
Rula’s matching tool connects you with over 10,000+ therapists dedicated to providing the care you deserve. In just a few minutes, you can find an in-network therapist who can meet with you as soon as tomorrow.
About the author
Linda Childers
Linda is an award-winning medical writer with experience writing for major media outlets, health companies, hospitals, and both consumer and trade print and digital outlets. Her articles have appeared in the Washington Post, USA Today, WebMD, AARP, Brain+Life, HealthyWomen.org, The Rheumatologist, California Health Report, Everyday Health, HealthCentral, and many other media outlets. While juggling the responsibilities of being part of the “sandwich generation” and caring for both her toddler son and terminally ill mother, a nurse friend encouraged her to seek therapy, which helped her to learn coping strategies and manage her depression. Linda hopes her work will help to destigmatize mental health conditions and encourage others to get the help they need.
Rula's editorial process
Rula's editorial team is on a mission to make science-backed mental health insights accessible and practical for every person seeking to better understand or improve mental wellness. Rula’s clinical leadership team and other expert providers contribute to all published content, offering guidance on themes and insights based on their firsthand experience in the field. Every piece of content is thoroughly reviewed by a clinician before publishing.
