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The holiday season is officially upon us! This is a season of joy and celebration, but it can also be a time of financial stress for many people. Below, you can find some useful financial tips for ensuring a stress-free holiday season. After all, one of the best gifts you can give yourself is the peace of mind that comes from financial wellness.

1. Thoughtfully plan your gifts.

Make sure that you have considered a realistic budget for your financial situation. Overspending and making impulse purchases are some of the easiest ways to derail your holiday finances. A solid, carefully crafted budget will allow you to give all your loved ones a thoughtful gift without leaving yourself with only a lump of coal.

2. Shop smart.

The holiday season is one of the biggest discount seasons of the year. As you shop for this season, keep an eye out for deals, discounts, and promotions. Many major retailers offer special deals during this time of year; taking advantage of these can help you save money and stick to your budget.

3. Plan your travel.

“I’ll Be Home for Christmas,” “Santa Claus is Coming to Town,” “Christmas in Killarney” …there’s a reason so many holiday songs focus on traveling! When you think about your holiday plans, consider booking your flights and accommodations in advance to get the best deals. Think ahead, too – are there major trips you’re planning in 2024? Start looking for the best deals now. Travel alerts and signing up for airline and hotel promotional emails can help you find the best options.

4. Get creative.

It can be tempting to spend far more than you intended on decorations and holiday cheer. This year, think about embracing your creative side and DIYing some decorations or gifts. This can be a heartfelt way to spend time with your loved ones while also saving on some unnecessary expenses.

5. Plan for your future.

Consider scheduling a meeting with a financial adviser. Whether you are an old client or a new one, the holiday season is an excellent time to consider your plans for the coming year. Are you on track for your financial goals? A skilled financial planner can help you craft a financial plan that will allow you to work towards the financial future of your dreams.

6. Embrace the spirit of the holiday season.

Above all, always remember that the true meaning of the holidays is not found in material things. Instead, it’s all about spending time with loved ones. Although buying everyone the latest and greatest gifts is a wonderful thing, practicing gratitude and being present in the moment can be more fulfilling than any gift.

As you think about your financial plan during this holiday season, please reach out to one of our team members with any questions or concerns. You can contact us at (469)212-8072 or www.gdswealth.com.

Glen D. Smith, CFP®, CRPC®
Chief Executive Officer | Chief Investment Officer | Founder

This blog does not constitute advice or a recommendationor offer to sell or a solicitation to deal in any security or financialproduct. It is provided for information purposes only and on the understandingthat the recipient has sufficient knowledge and experience to be able tounderstand and make their own evaluation of the proposals and servicesdescribed herein, any risks associated therewith and any related legal, tax,accounting, or other material considerations. To the extent that the reader hasany questions regarding the applicability of any specific issue discussed aboveto their specific portfolio or situation, prospective investors are encouragedto contact GDS Wealth Management at (469)212-8072 or www.gdswealth.com or consult with the professionaladviser of their choosing.

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