Staying on Budget This Season of Giving
The holiday season is often described as the most wonderful time of the year, but it can also become one of the most expensive. Between gift exchanges, family gatherings, travel, and year-end sales, expenses can add up quickly — turning the season of giving into a season of overspending.
With a little planning, however, it’s possible to enjoy the holidays while staying true to your financial goals. Tina Mistry, CFP®, CEO and Senior Financial Advisor at Portfolio Advisors Inc., recently shared practical strategies to help families keep their budgets intact during ABC30’s Watching Your Wallet segment with Vanessa Vasconcelos.
“It’s more than just having a budget,” Mistry explains. “Start by making a list of who you’re shopping for and what you plan to get them. When we’re challenged with thinking off the top of our head in a store — ‘gosh, what should I get for this person?’ — that’s when overspending can happen because we’re just trying to make quick, pressed decisions.”
Plan Ahead to Stay Financially Grounded
Creating a spending plan early in the season can make all the difference. Mistry recommends setting a clear budget before you start shopping, including all the hidden costs that can sneak up during the holidays — like wrapping paper, shipping fees, or party expenses.
It’s also helpful to track purchases in real time. Whether you prefer using a budgeting app or an old-fashioned spreadsheet, seeing your spending add up helps prevent impulse buys and ensures you stay within your limits.
Thoughtful Alternatives to Traditional Gifts
This year, consider more meaningful and lasting alternatives to traditional gift-giving. Instead of splurging on high-demand gadgets or trendy items that may lose appeal by next year, focus on gifts that create long-term value.
One thoughtful option is contributing to a child’s education savings account. Families can open accounts designed specifically for college or non-college educational expenses, allowing relatives to contribute throughout the year. This type of gift teaches the importance of financial planning early on and can make a lasting impact on a child’s future.
Another creative choice is U.S. savings bonds, which start at just $25 and accrue interest annually.
“They come in $25–$50 increments,” says Mistry. “There are interest rates assigned to those bonds, so they’ll be earning a certain amount over time.”
These small-denomination bonds can be a thoughtful and educational gift for children or young adults — one that grows in value over time and encourages saving habits.
Build a Holiday Savings Fund for Next Year
While it’s easy to focus on getting through this year’s expenses, the best way to set yourself up for success is to plan for next season early. Mistry offers a simple but powerful strategy:
“If you start saving $25 a week in January and do that all the way through November, you’d have a little more than $1,000 saved.”
By breaking down your goal into smaller, manageable amounts, you can build a dedicated holiday fund without feeling the financial strain all at once. Setting up an automatic transfer each week or month can help make saving effortless.
Practice Intentional Giving
The holidays are about connection, generosity, and gratitude — not financial stress. By planning ahead, setting clear spending goals, and choosing thoughtful gifts, you can approach this season with confidence and peace of mind. Intentional giving also means focusing on what truly matters: creating memories, expressing appreciation, and giving in ways that reflect your values.
Even small changes, such as organizing a gift exchange instead of buying for everyone or gifting experiences instead of items, can make the holidays more meaningful and budget-friendly.
Partnering with Our Community
Portfolio Advisors Inc. extends heartfelt appreciation to ABC30 and Vanessa Vasconcelos for featuring Tina Mistry in the Watching Your Wallet segment. We’re proud to share financial guidance that empowers individuals and families throughout the Central Valley to make informed, confident decisions — especially during the holiday season.
At Portfolio Advisors, we believe that sound financial planning isn’t just about numbers — it’s about creating peace of mind and aligning your money with your goals and values. Whether you’re preparing for the holidays, planning for retirement, or saving for your child’s future, our advisors are here to help you design a strategy that fits your life.
Visit our Knowledge Center to explore more articles, tips, and resources for smarter financial decision-making — this season and beyond.ng.
