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Avoiding A “Financial Hangover” During The Holidays

Career

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1

Adjust Your Budget & Stick To It

Even if you plan to be frugal, there’s pretty much no way around the fact that the holiday months will cost you more than other months of the year. But you can prepare yourself for the inflated costs during the holidays by planning ahead. Rather than scrambling to buy last-minute gifts or holiday outfit and charging it all to your credit cards, consider planning for the holidays ahead of time. Consider listing out who you need to buy gifts for and set a spending limit. Think about whether you’re hosting Thanksgiving dinner or any holiday dinner parties and how much you should budget for food and alcohol. Fancy New Year’s Eve plans? Estimate your costs for that too. Once you’ve estimated these various costs, add them into your budget and make sure you stick to your limits. Consider setting extra money aside each month in the time leading up to the holidays, so that when it comes time to spend, you already have extra cash on hand.

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Avoid blowing your gift budget and giving yourself a financial headache by taking time to start shopping sooner rather than later – this will allow you to comparison shop, keep an eye out for sales, and give you the time to find less expensive but meaningful gifts

2

Put Down The Plastic

Holiday shopping usually means racking up your credit cards – which is where the headache of the January “financial” hangover comes in. However, if you budget and save money ahead of time to use towards holiday gifts and indulgences, you should be able to avoid using credit cards altogether. If you must use credit cards, try to choose one that gives you rewards points or cash back, and make sure you are able to pay more than the minimum each month so you don’t end up paying tons in interest as you pay off the balance.

3

Be Smart About Gifting

One of the biggest expenses during the holidays are gifts. Common mistakes that lead to overspending are not planning what to buy ahead, leaving shopping to the last minute (which can lead to abandoning your plan in favor of buying whatever’s convenient), and buying something expensive from a big brand name rather than something personal and thoughtful. Avoid blowing your gift budget and giving yourself a financial headache by taking time to start shopping sooner rather than later – this will allow you to comparison shop, keep an eye out for sales, and give you the time to find less expensive but meaningful gifts, rather than just caving in and buying something expensive at the last second. Bonus: you’ll avoid a real headache by getting your shopping out of the way early!

4

Have a Holiday Trip, Not a Guilt Trip

Don’t let your vacation put you into debt. If planning to travel during the holidays – whether taking a tropical vacation or visiting family – there are measures you can take to avoid over-spending. The holidays are almost always more expensive when it comes to hotel and airfare rates, so your best bet for saving money is to book sooner rather than later. This will allow you time to shop around online for the best prices and keep an eye out for sales. You may also want to consider renting a home or apartment on Airbnb, rather than stay in a hotel. Set a budget for things like activities and dining out and make sure you stick to it.

5

Say No

Avoid unexpected expenses during the holiday season by knowing your limits and staying within them. If a holiday party or activity comes up that will put you over-budget, you may just have to say no. Know your financial limits, and avoid social activities or purchases that your budget doesn’t allow for; there will still be plenty of fun to be had during the holidays and you’ll thank yourself later!

The holidays are meant to be enjoyable and a time for indulgence – and while you may putting on a few extra pounds or having a few late nights may be unavoidable, a financial hangover is. All it takes to avoid the holiday financial hangover is some awareness and planning ahead.

This will allow you to start January fresh and ready to tackle your financial resolutions, rather than playing catch up with your credit card bills.

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Culture

Miss USA Cheslie Kryst and Eboni K Williams Get Real On ​Race, Success, and Empowerment

Eboni K. Williams and Cheslie Kryst have a lot in common, as Iman Oubou Founder & CEO of SWAAY as well as host of the Women Who Swaay podcast puts it, "They're both badass attorneys, they're both from North Carolina and they've both competed in the Miss North Carolina USA pageants." And they also both took over our podcast on the most recent episode, straight from the headquarters of the Miss Universe Organization!


Cheslie is a successful licensed attorney who also happens to be the reigning Miss USA 2019, with plans to represent our country in the upcoming Miss Universe competition. Not only is she at the height of her pageant power, but she is using the notoriety to create positive change for all of the women in her life, much like her role model Eboni K. Williams. Williams is a journalist, author, attorney and speaker; from her long history as a pageant queen she has risen through the ranks of male dominated industries from law-firms to Fox News. All throughout her journey she has persevered with intelligence, tenacity and poise. Lucky enough for us, she has kindly put her reporting skills to use and got candid with Ms. Kryst about supporting their fellow women, the current state of race in America and their history together as pageant compatriots. All of these topics are incredibly close to their hearts as powerful black women using their influence to create a better future for all women in America.

Oh and, as previously stated, both are complete and utter badasses.

During their podcast takeover they talked about it all, from pageants to politics. It's clear that both of these women are motivated by an altruistic spirit and are strong supporters of #womensupportingwomen. Eboni even read a passage from her book, Pretty Powerful: Appearance, Substance, and Success, in which she outlines how her own career trajectory was so positively affected by the incredible women who mentored her in different stages of her life. She completely shuts down the idea of the "woman on woman teardown," calling it a "pitiful dynamic" tied to the "long and very hurtful history of women." This idea that in order to compete for a spot in the old boy's club, women must first fight off their own gender is not only reductive but it also supports an outdated social structure that was built to greatly favor male success. Throughout history women have been encouraged to look at one another as competition, one more obstacle to pass by. However, all that has managed to do is to pit us against each other, fighting for the few meager seats at the table allowed for women while we ignore the real problem. The problem isn't about the lack of seats allotted for women; the problem is that men are still the ones making the seating arrangements, and it's time for that to change, something that both Cheslie and Eboni understand well.

Race is another topic that is incredibly important to both of these women, and they have quite the in-depth discussion on it during this podcast. Cheslie, who is biracial and self-identifies as black, laid out her point of view on race. She voiced her frustrations for never feeling like she had her own box to tick, being stuck to decide between "black, white, or other" in standardized situations like the SATs. Existing as someone stuck between two cultures has been incredibly challenging, and though she found some solace in the black community, she felt less welcomed by her white peers. Self-identifying as black is something that has allowed her more agency in regards to her own identity, and though she still faces difficulties she realizes how important it is to be a confident black woman in the esteemed position she is currently in. Both Cheslie and Eboni seem to bond over the idea that no matter the successes, they both revel in the victories of their fellow women of color. Each of them is motivated to see more women of color in powerful, visible positions to inspire future generations. It's not about their own success; it's about respect and renown for any and all women of color.

I may have just provided the highlight reel, but the full conversation shared between Cheslie and Eboni on the Women Who Swaay podcast is a must listen. These two women managed to make me laugh while restoring hope for a better America all within a half hour of listening time! Seriously, go get those headphones, right now. You will not regret it.