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avoiding the 2015 financial hangover

2015 is going to be a BIG year for our family. With baby #2 on the way, we have never been more aware of our financial wellbeing. From hospital bills to diapers, babies come with a multitude of expenses.

This is round two for us, so we have a better idea of what to expect and how to prepare. The holidays landed smack-dab in the middle of our baby prep, and we vowed not to let Christmas overindulgence send us offtrack and land us with a January financial hangover.

(Yes, a “financial hangover” it’s a real thing. You just find yourself nursing a sad bank account rather than a spiked egg nog headache.) 

capital one 360 new year financial peace
Capital One 360 wants you to find financial peace among all of the hustle and bustle of the season. You can check out their Black Friday Sale for deals on banking, brokerage and mortgage products! And in the meantime, here are my 3 tips for avoiding a January financial hangover and starting 2015 strong:

capital one 360 new year financial peace
The holidays are a time for shopping, baking, eating, partying, and inevitably – a time for something unexpected to go wrong. Don’t let a water heater on a fritz or an urgent trip to the vet derail your financial peace.

Having a solid emergency fund is the first step. $1000 is a good starting point, and from there you can build up a more substantial savings. Either way, not having to spend money you don’t have is good thing!

capital one 360 new year financial peace
Last week I shared our family’s gift tracking spreadsheet. Before any presents appear under our tree, Jeff and I sit down and brainstorm who we need to buy for, possible gift ideas, and potential costs.

That little bit of planning gives us an idea of our total holiday gift giving budget and where any adjustments need to be made. Creating the budget is easy – sticking to it can be hard! That’s where tip #3 comes into play…

capital one 360 new year financial peace
We all have goals for 2015 – many of them requiring money. Jeff and I have set several goals for ourselves ranging from covering the hospital costs of the birth to replacing the windows in the back of our house.

Keeping these goals in mind early can help avoid financial overindulgence in December. We all mean well, but just like with Christmas cookies, there can be too much of a good thing.

So give yourself an early Christmas gift and avoid that January shopping hangover.

financialpeace
Looking over your bank statements in the New Year will be far less uncomfortable with these simple tips. Capital One 360 is here to help too! Head over to their Black Friday Sale to see how they can make your 2015 financial goals a reality!

Your turn:

What’s your tip for finding financial peace over the holidays?

I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.

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