NAVIGATING FAMILY FINANCES THIS HOLIDAY SEASON – THE SAFE, THE FUN, AND THE IMPACTFUL
The arrival of December means holiday lights, laughter, and … family gatherings. And while you may dodge discussions about politics, there are plenty of financial topics that can spark meaningful and positive conversations without inviting controversy. Here’s your guide to navigating financial discussions that won’t end in a dinner-table debate but might just make the season brighter.
- Celebrate Progress With Gratitude
Gratitude is a great icebreaker, especially when it comes to financial wins. Reflecting on financial goals achieved over the past year can be inspiring. Did you increase your retirement savings? Buy a home? Celebrate a family member’s progress toward financial independence, like landing a first job or completing another year of college. Taking stock of accomplishments can help you, and those around you, enter the new year feeling motivated and proud. Who knows— your progress might just encourage others to set goals of their own.
- Charitable Giving: Giving Back, Together
If there’s ever a time to talk about giving, it’s during the holidays. Discuss which charities you supported last year and any new causes you’re considering. It’s a chance to share stories of organizations that inspire you and, perhaps, introduce others to new causes they’d like to support. Charitable giving doesn’t just make a difference to those in need; it can also come with tax benefits—a win-win!
- Estate Planning – Because Peace Of Mind Is A Gift, Too
Estate planning might not be the jolliest topic, but it’s one of the most meaningful gifts you can give your loved ones. If you’ve been putting it off, the holidays can be a good time to gently approach this conversation. Planning for the future provides peace of mind for you and your family. Why wait for a crisis to address it? As with any crucial financial task, it’s easier when it’s discussed openly and with support.
- Financial Planner Referrals – A Gift That Keeps Giving
Who says holiday gifts can’t be practical? Referrals for financial planners are a valuable topic to bring up, especially in wider family gatherings. Just like doctor or dentist recommendations financial advisor referrals are best shared by people you trust. Getting some names and insights from family members who’ve had good experiences can save time and give you peace of mind. And hey, your advisor will be thankful for a bit of holiday cheer in the form of new clients!
- Lessons Learned – Wisdom Across Generations
For larger gatherings, few topics are as timeless as lessons learned. Family stories can be more than just entertaining— they often carry invaluable financial insights. Perhaps Grandpa has a story about job loss and bouncing back, or Aunt Agatha can share her balancing act between career and family. Even younger relatives might have insights on budgeting apps, investment tools, or warnings about the latest online scams. These stories bridge generational gaps and offer a chance for everyone to learn something new, no matter their age.
The Holiday Wrap-Up: Work With A Pro
When in doubt, consider consulting a CERTIFIED FINANCIAL PLANNER® to guide you. Whether it’s advice on charitable giving, estate planning, or goal setting, a CFP® can provide insights tailored to your specific needs, ensuring your financial resolutions stick around long after the holiday lights come down. By focusing on these safe and insightful topics, you can enjoy meaningful conversations, share wisdom, and maybe even pick up some valuable tips—all while keeping the holiday spirit alive and well!
