Feasts & Finances: Planning for Thanksgiving Day and Beyond
By Kate Vaillancourt, Certified Credit Union Financial Counselor (CCUFC)
Thanksgiving is my favorite holiday. I love that it’s all about gathering with friends and family, and I’m not going to lie: I’m all about the food. Putting together our family feast is something that I enjoy doing. Has it always gone according to plan? No. Have I had some failed turkeys? You bet—and that’s OK! As with anything else, making mistakes is a part of learning, and after MANY failed dinners throughout the years, I figured out what works for me and what doesn’t.
I have spent hours going through cookbooks, I’ve searched for recipes online, read articles in magazines, and gotten advice from others. The most important part of my Thanksgiving dinner success is planning ahead. A few weeks before the big day, I begin setting things in motion by organizing the menu and creating a grocery list—but many of those decisions are determined by my budget. What a buzz-kill, right?
My usual grocery budget isn’t enough so I have to plan a bit to be able to do all I want to do. Some years I’ve been able to go all in, but others have been more of a “limited menu” offering. This year, I’ve had some unexpected expenses and groceries are a bit more expensive, so I need to make some adjustments. No matter what is on the menu, with some careful planning, I have peace of mind that dinner will be served.
Becoming Friends with Your Finances can happen in a similar way. You can expect to go through some trial and error, but with careful planning, you can often find peace of mind—which can be especially important as we head into this holiday season.
Thanksgiving Day leads to Black Friday, the official season opener for the holiday season. For many, it’s time to make some hard decisions about Christmas shopping budgets. Once the feast is over, the dishes are done, and the table leaf is tucked away, take a moment to commit to these tips to help you tackle your holiday shopping:
- Make a budget. Figure out how much you are able (and willing) to spend on gifts before you start spending. This is key!
- If you are cooking a big meal, budget for this, too.
- Make a list and assign dollar amounts to each person you are buying for.
- Talk to your family. If things are tighter than before, or if you simply don’t want to do “all that” again this year, talk to your family about it. (PS: Kids are far more understanding than you think!)
- Check sale flyers and compare prices online—do whatever you’re comfortable doing.
- Find your comfort zone and be firm in your desire to stay there, especially when it comes to your finances.
Staying within the budget might be hard, but it will likely buy you some much-needed peace of mind. Whether you’re doing it for personal reasons or simply trying to cut back, remember that Santa is feeling the pressure too—he’s got all those elves to feed, and the cost of materials has gone through the roof!
If you’d like help working through your holiday budget, please reach out to me by sending an email to kvaillancourt@acadiafcu.org or by calling 207-992-1060. Financial counseling services are free to members of Acadia Federal Credit Union.
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November 18, 2024