The leaves have all but fallen and there’s frost on the pumpkins. The costumes are tucked away and most of us have eaten all the candy. While it’s tempting to deck the halls and turn on the cheesy holiday movies, we invite you to pause a moment and take in all that Thanksgiving has to offer this November. Here are our best tips for making Thanksgiving memorable and affordable this year.
Exercise Gratitude
As financial planners, we spend a lot of time talking to people about saving and wealth accumulation. While this is important, it is also important to take time to be thankful for the blessings in our lives. It is easy to take things like food, shelter, health, family and friends for granted. Take time this Thanksgiving to ask kids and elders what they are thankful for. The answer may surprise you. Not all wealth can be tallied up on your balance sheet.
Organize A Plan To Give Back During The Holiday Season
Thanksgiving is a great day to focus on giving back. For some, this may mean planning to donate gifts to those in need. For others, this may mean donating time ringing bells or serving meals at a local shelter. Think outside the box for ways to make a big impact. Consider bringing a meal or holiday treat to an elderly neighbor or organizing a caroling event for those in a nursing home. Take a moment this Thanksgiving to determine a way to give back. Remember that there are plenty of ways to impact your community without spending money
Thanksgiving is a great time to plan out monetary gifts for the holiday season and beyond. For those retired and needing to take a Required Minimum Distribution from an IRA, you may have an opportunity to do a Qualified Charitable Distribution. Be sure to speak to your trusted advisor to see if this is right for you.
Money Mindfulness
Thanksgiving is the kickoff to the season of spending. The coming weeks will be filled with shopping, baking, entertaining and all things merry. Understanding how this will affect your budget can help you not only be less stressed during the season, but less stressed in January when the bill comes. Get off on the right foot by starting strong with Thanksgiving.
Look for ways to save on your holiday gatherings by stocking up on non-perishable items or items with a longer shelf life when you see them on sale. Compare the specials at different stores and substitute store brands when possible. If you typically throw away leftovers, make a smaller meal or avoid waste by sending to-go containers with guests. If your guests ask if they can bring something, say yes. They are usually thrilled to help, and this can take pressure off hosting a gathering.
Black Friday Basics
While the deals for Black Friday, Cyber Monday and Travel Tuesday seem to show up early, some people love to plan out gift giving on Thanksgiving. When it comes to gift giving, set a budget and stick to it. Be aware of Black Friday deals. Not all deals are truly a deal. Sometimes price leading items are meant to entice shoppers into the store. Be aware that retailers may have overpriced items placed strategically near the deal. Make sure that it’s not impulse. Look for good deals on name-brand quality items. Make a list of people you want to buy for and include how much you want to spend. Using gift cards is a sure way to avoid overspending. Don’t be afraid to give your time or handcrafted items. Think outside the box such as experiences which can create memories and give you quality time with those you love.
Thanksgiving is a time to celebrate family, friends and food. We hope that as you gather with those you love, your table is filled with blessings and gratitude. This Thanksgiving, our team is thankful for all of you! It is an honor to serve our clients and communities. On behalf of our Advisors Management Group family, thank you and have a wonderful Thanksgiving and holiday season.
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Rebecca AgamaiteInvestment Advisor Representative Rebecca joined the firm in 2011 as an Investment Advisor Representative. In this role, she works with clients to manage their investment assets and help them obtain their financial objectives. Rebecca brings a great deal of experience to the team having worked for several years at Marshall & IIsley Bank and MetLife. She earned a Masters of Business Administration degree (with an emphasis on finance) from Concordia University. |
Advisors Management Group, Inc. is a registered investment adviser whose principal office is located in Wisconsin. Opinions expressed are those of AMG and are subject to change, not guaranteed, and should not be considered recommendations to buy or sell any security. Past performance is no guarantee of future returns, and investing involves multiple risks, including, but not limited to, the risk of permanent losses. Please do not send orders via e-mail as they are not binding and cannot be acted upon. Please be advised it remains the responsibility of our clients to inform AMG of any changes in their investment objectives and/or financial situation. This commentary is limited to the dissemination of general information pertaining to AMG’s investment advisory/management services. Any subsequent, direct communication by AMG with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request.
