November 15, 2018 | Article

The holidays are around the corner! Although this is quite a joyous and fun time of the year, it can also be quite stressful – not only for you, but for your clients who are trying to spend wisely throughout the weeks ahead. With that being said, you can reach out to your clients and work together to develop a budget this holiday season.

It’s a good practice to plan ahead and create a budget for your holiday spending. As you’re working with your clients and their finances, you want to make sure they stay on track with their financial goals and spending habits. Here are a few tips you can share with your clients to help them stay on track and not over-spend during the holidays.

  1. Tip #1: Make a list – Making a list is a great place to start. Have your clients list any gifts, trees, decorations and upcoming trips, etc. they typically spend money on during the holiday season.
  2. Tip #2: Create a budget using the list – Once they have their list made, they can then budget how much they’ll allot toward each of the line items. Putting a higher estimate for some, such as trips, may be a good idea in case unforeseen expenses come up.
  3. Tip #3: Help them set up a holiday savings account – Creating a separate savings account can help them keep track of their spending and how much they have saved up to contribute to what’s budgeted for the holidays.
  4. Tip #4: Use a rewards card – Some credit cards offer cash back or other sorts of reward points that can later be applied to travel plans for the holidays or toward what was spent. Additionally, using the same card can be another way to ensure that they’re sticking to the budget they created and keep track of what they’re spending.

As the holiday season draws upon us, it’s a great time to reach out to your clients. Reminding them to plan ahead and start the discussion about gifts and travel plans can help them stay on track to reach their financial goals. What budgeting tips will you share with your clients as they’re planning for the holidays?

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