Having spoken to a few people this week regarding their financial situation a couple of things were brought up in each of the conversations.  One was their plans for Christmas and Boxing Day, and the other was their holiday plans for next year.

For many Christmas and Boxing Day are days to celebrate with family and friends, and eat and drink too much.  I’m all for that, the celebrations and the food. Also, if families pool their resources it can be a cheapish time together, everyone bringing a bit of something and having a sort of buffet of food.

The families I spoke with also stated they were cutting way back on gifts for friends and family members.  Some chose to exchange gifts with just one family member with each drawing names and then just having the one gift to buy instead of many.  A few couples I have spoken with over the past few months, and these were couples who had been together for many years, were not giving each other gifts, but decided to save that money so they could go on holiday next year.  I thought that was a wise choice, as a proper holiday for many people is not only fun, but needed depending on the stress the past year has brought on.

This leads me to some of the holiday plans people have stated they have for next year.  One family told me there is no holiday next year.  He is looking at possibly being made redundant and they needed to save the money.  Last year they had spent £1000 on a holiday, taking the family to one of the holiday camps in Wales, not so this next year.

A few families I spoke with said they were still considering a holiday, but it was to be scaled back, in some instances considerably.

My advice has always been do what you feel is best for you, but don’t deprive yourself or your family as that can have an impact as well.  Living a bit frugally during the year, saving here and there where you can, may allow you some sort of holiday.

Of course there always have been people who use credit to take a holiday.  Just place it all on a card and go, worrying about paying for it later.  Some then take a few months and pay the debt off, and others struggle with it for years.

I remember a particular client many years ago, this was when I was working in the states; she and a friend took a lavish holiday to Ireland.  Holidays to Ireland from the states can be expensive due to the airfare, hotels, etc.  She had run up well over $5000 of debt just from this one trip alone.  This coupled with all her other debts had really sent her over the edge financially.

As for myself, I did have a small holiday last year, and I hope to do the same this year.  I have found if you keep yourself open and flexible, there are some great deals to be had.  Of course being flexible means maybe not going to a warm tropic type resort at the peak season, also flying at off times, leaving early in the morning or later in the evening can drastically reduce your airfare.  Travelling mid-week can reduce the costs as well.

So keeping this in mind, hopefully we all can find something and somewhere to get away to and forget the stress, recharge our batteries, and just chill out.