By Kate Welker, CFP®
Can we all agree this year has just been weird? As we head into the end of the year and the holidays it is a natural time of reflection and a slower pace and I believe we all need to embrace that, especially this year. Our holiday celebrations look a little different than in the past. Many of our readers will not be able to see their family, may be struggling financially, or may just be overwhelmed with the changes we have seen. Along with all the craziness and negatives that the world is focused on, there have been positive opportunities this year! I want to encourage you to think back on the year and find the positive moments that might not have happened if we hadn’t been in a global pandemic. Regarding your finances I want you to look back at the year, and decide how you want to move forward.
Below are some of positive changes I have seen this year in my life and I have heard others say the same things.
Family Time - Forcing the world to hit pause changed the way the week looks and families interacted. On my side we went from rushing out to door in the morning, rushing home from work, running to dance, cub scouts, softball, board meetings and managing to squeeze dinner and a few moments together in there. When everything went on pause it felt a little like being on a merry go round that suddenly stopped and threw you off (think more the terrifying metal playground merry go round than the gentle amusement park style) and you had to lay there and catch your breath for a minute. Switching everything virtual meant that by evening everyone was tired of their devices and we made meals together, sat at the table to eat, played games and went for walks, so many walks. My yard looked the best it has in years and I also have the strongest Mario Kart game I’ve had since I was 12. As things started to get a little back to “normal” we have really rethought our lifestyle and are being very conscientious of the obligations that will get us back into the rush and run that was exhausting.
Exercise and Nature - I have found the time to get into a great habit of making a workout a part of my day. My husband and I have been able to do this together, it keeps us accountable, and it’s a bonding experience. Sitting as much as I do, it has made me feel so much better to know I’m doing something good for my body to start the day. Watching the increasing numbers of walkers and runners head down my street and the kids out riding bikes I know more people have had a chance to get outdoors to enjoy nature and move more. With the normal entertainment and amusements closed we explored the state finding parks and open areas where we could still maintain safe guidelines and might not have thought to explore before.
Finances - I want to make sure I don’t discount the financial difficulties many people are facing this year as a result of the pandemic and resulting ripples, and we encourage you to reach out for assistance if you need it. For others this year was an opportunity where you may have found yourself bringing in additional money from stimulus sources or staying home more meant you saved more money. We have seen more clients that feel like they have the time now to focus on their finances and their overall financial wellness.
Reflecting on finances is always important and especially important after this year. Set aside a little time for yourself to look back at the decisions you’ve made this year and the progress or backwards steps taken. If there have been some poor decisions, face them and admit to yourself what you did and how you can change that, but don’t continue to beat yourself up about it. Talk about how you can prevent those same poor decisions from happening again and set yourself up for success in the next year. If you had really positive changes talk about why that was and ways you can continue to move that momentum forward.
Enjoy your holiday and set aside a little time for reflection. We’d love to hear any positive changes this year has had on your life or ways you are changing your financial decision making.