A financial planner's 7 rules for holiday spending

kAmt>2:= :?3@I6D 2C6 2=C625J 7:==:?8 FA H:E9 8:7E DF886DE:@?D 7@C E96 9@=:52JD] xE >2J 36 92C5 E@ C6D:DE 4=:4<:?8 @? E9@D6 =:?<D 2?5 8@:?8 5@H? E96 C233:E 9@=6 2D J@F :>28:?6 2== E96 D>:=6D 2?5 H2C> 766=:?8D 8:G:?8 E96 A6C764E 8:7E H:== 3C:?8] k^Am

kAm%92E 766=:?8 :D C62=[ 2?5 :E :D A2CE @7 H9J E96 9@=:52JD 2C6 D@ >F49 7F?] qFE :E :D 2=D@ 9@H 3F586ED 5:D2AA62C] xE’D ?@E @?6 3:8 DA=FC86 W2=E9@F89 E92E 42? 2=D@ 92AA6?X[ 3FE >2?J D>2== >@>6?ED DA6?E =:?86C:?8 @? 2 AFC492D6 =:?< 2?5 4@?G:?4:?8 J@FCD6=7 E92E E96 9@=:52JD 2C6 C62D@? 6?@F89 E@ “4=:4<” E96 3FJ 3FEE@?] k^Am

kAm#6E2:=6CD >2<6 :E D@ 62DJ] qFE E96? E96 6=2E:@? 567=2E6D :? y2?F2CJ H96? E96 4C65:E 42C5 3:== 4@>6D 5F6[ 2?5 :E =@@<D ?@E9:?8 =:<6 E96 3F586E J@F D6E 324< :? E96 72==] k2 9C67lQ9EEADi^^HHH]244C65:E65563EC6=:67]4@>Qmp44C65:E65 s63E #6=:67k^2m 5:G6D :?E@ H92E E@ 5@ 23@FE :E[ 3FE 7:CDE[ :E 96=AD E@ D66 9@H 4@>>@? E9:D :D]k^Am

k9bmw@H |2?J !6@A=6 tIA64E E@ v@ x?E@ s63E ~G6C E96 w@=:52JDnk^9bm

kAm&?7@CEF?2E6=J[ :7 E9:D D@F?5D 72>:=:2C[ J@F 2C6 :? 8@@5 4@>A2?J] p44@C5:?8 E@ 2? ~4E@36C a_ad k2 9C67lQ9EEADi^^HHH]2:4A2\4:>2]4@>^?6HD^2CE:4=6^2:4A2\9@=:52J\DA6?5:?8\DFCG6J\C6G62=D\3F586E:?8\563E\2?5\2\3:E\@7\C68C6EQmp>6C:42? x?DE:EFE6 @7 r!pD Wpxr!pX DFCG6Jk^2m[ cfT @7 A6@A=6 6IA64E65 E@ 8@ :?E@ 563E E92E 9@=:52J D62D@?] %92E ?F>36C ;F>A65 E@ ecT 2>@?8 25F=ED F?56C bd] p?5 bhT D2J E96J 92G6 76=E C62= C68C6E @G6C A2DE 9@=:52J @G6CDA6?5:?8] p BF2CE6C @7 A6@A=6 H9@ 5@ >2<6 2 9@=:52J 3F586E 29625 @7 E:>6 5@ D@[ 25>:EE:?8 E92E E96J k2 9C67lQ9EEADi^^HHH]244C65:E65563EC6=:67]4@>^3=@8^H9J\>@DE\3F586ED\72:=\2?5\9@H\E@\>2<6\J@FCD\DE:4<QmAC@323=J H@?’E DE:4< E@ E92E 3F586Ek^2m] %96J 25>:E 56762E 367@C6 E96 D62D@? 6G6? 86ED F?56CH2J]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^`_^a`^25C\A=2??:?8\E@\7:?2?46\E96\9@=:52JD]A?8Q 2=ElQp? :?7@8C2A9:4 C6A@CE:?8 52E2 @G6CG:6H @? H92E A6@A=6 DA6?5 @? 9@=:52J D9@AA:?8]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mp44C65:E65 s63E #6=:67k^7:842AE:@?mk^7:8FC6m

k9bmk3C ^mf #F=6D 7@C w@=:52J $A6?5:?8k^9bm

kAmp A=2? :D E96 >:DD:?8 A:646] w6C6’D 2 7C2>6H@C< 7@C 4=@D:?8 E92E 82A[ :? E96 @C56C J@F’== ?665 6249 CF=6]k^Am

k@=mk=: 52E2\=:DE\:E6>\:5lQ67b7545_fe5hfg23h773h2``c77bacd3eQmkDEC@?8m!:4< 2 9625=:?6 ?F>36C]k^DEC@?8m r9@@D6 2 ?F>36C 7@C E96 6?E:C6 D62D@? 2D 62C=J 2D A@DD:3=6[ :562==J 367@C6 J@F 6G6? DE2CE 3C@HD:?8] u@C 6I2>A=6[ J@F >:89E 564:56 E92E J@F 2C6 8@:?8 E@ =:>:E J@FC 9@=:52J DA6?5:?8 E@ 36EH66? `T 2?5 `]dT @7 J@FC 2??F2= :?4@>6] w2G:?8 2 ?F>36C 564:565 @? :? 25G2?46 E92E :D H6== E9@F89E @FE 2?5 E92E J@F 92G6 >256 A6246 H:E9 H:== D6CG6 2D 8F2C5C2:=D E@ <66A DA6?5:?8 :? =:?6 E9C@F89@FE E96 9@=:52JD] k^=:mk=: 52E2\=:DE\:E6>\:5lQ6aeedhccef`6h4cb42fb3h44_b2ch34_dQmkDEC@?8mqF586E 7@C 2== E96 9@=:52JD[ ?@E ;FDE J@FC 9@=:52JD @C E96 3:8 9@=:52JD]k^DEC@?8m !6@A=6 E6?5 E@ 7@4FD @? E96 9@=:52JD E92E 2C6 :>A@CE2?E E@ E96:C 4@>>F?:EJ[ H96E96C :E 36 C6=:8:@FD @C 4F=EFC2= @3D6CG2?46D] %96J >2J 9@>6 :? @? @?6 @C EH@ 3:8 9@=:52JD E92E 2C6 :>A@CE2?E E@ E96> 3FE 36 =6DD 2H2C6 @7 DA6?5:?8 7@C D64@?52CJ 9@=:52JD E92E 2C6 :>A@CE2?E E@ C6=2E:G6D[ 7C:6?5D 2?5 ?6:893@CD] w@=:52JD E92E A@A FA 42? 92G6 ;FDE 2D >F49 :>A24E @? 3F586ED 2D E9@D6 A6@A=6 A=2? 7@C] k^=:mk=: 52E2\=:DE\:E6>\:5lQ6a6c2df_bhb6_247_b476c`h`5dg7`3`7QmkDEC@?8mv:7ED 2C6 ;FDE 2 D=:46 @7 E96 A:6]k^DEC@?8m $A6?5:?8 @? 8:7ED >2J 36 2 3:8 A2CE @7 k2 9C67lQ9EEADi^^HHH]244C65:E65563EC6=:67]4@>^3=@8^f\E:AD\E@\86E\E96\>@DE\@FE\@7\J@FC\9@=:52J\3F586E^QmJ@FC 3F586Ek^2m[ 3FE 5@?’E @G6C=@@< H96C6 2 =@E @7 >@?6J 2=D@ 8@6D] %92E 42? @7E6? :?4=F56 EC2G6=:?8 E@ 7C:6?5D 2?5 72>:=J[ @C 9@DE:?8 E96> 2?5 2== E92E 6?E2:=D] xE 42? 2=D@ :?4=F56 HC2AA:?8 A2A6C[ 42C5D[ 6IEC2 8C@46C:6D 7@C 9@=:52J >62=D[ 564@C2E:@?D 2?5 @7 4@FCD6 G2C:@FD $64C6E $2?E2 2?5 H9:E6 6=6A92?E 8:7ED E92E 2C6 6IA64E65 2E H@C< 2?5 H:E9 7C:6?5 8C@FAD] %96J >2J ?@E 766= =:<6 9@=:52J DA6?5:?8 3642FD6 J@F 2C6?’E 24E:G6=J AFC492D:?8 2 8:7E[ 3FE E96J ?665 E@ 36 :? J@FC 3F586E] k^=:mk=: 52E2\=:DE\:E6>\:5lQ66ddbf`hf_f`d7e2a47764`edhfb7``_eQmkDEC@?8m!2J H:E9 E96 >@?6J J@F 92G6[ ?@E E96 >@?6J J@F 9@A6 E@ 92G6]k^DEC@?8m v:G6? E92E fhT @7 A6@A=6 2C6 A=2??:?8 E@ FD6 2 4C65:E 42C5 2?5 @G6C 2 E9:C5 4@?D:56C k2 9C67lQ9EEADi^^HHH]244C65:E65563EC6=:67]4@>^3=@8^:?G:D:3=6\563E\DEF5J^QmFD:?8 3FJ ?@H[ A2J =2E6Ck^2m[ 244@C5:?8 E@ 2 |2J a_ae p44C65:E65 s63E #6=:67 DFCG6J[ :E >2J 36 H@CE9 2D<:?8 J@FCD6=7 9@?6DE=J H96E96C J@F 2C6 7:?2?4:?8 E96 9@=:52JD 2?5 ?@E A2J:?8 7@C E96>] x7 J@F 2C6 492C8:?8 >@C6 E92? J@F 42? A2J[ DA=:EE:?8 :E :?E@ 7FEFC6 A2J>6?ED 6IE6?5D E96 DA6?5:?8 H6== :?E@ E96 DAC:?8] xD E92E E96 36DE FD6 @7 J@FC 7FEFC6 >@?6Jnk^=:mk=: 52E2\=:DE\:E6>\:5lQ6`hhbehfff7bag7de4cee_74``ed2d7_4QmkDEC@?8ms64:56i (92E :D J@FC 563E 3C62<:?8 A@:?Enk^DEC@?8m x7 J@F 2=C625J <?@H E92E J@F H:== 36 42CCJ:?8 563E :?E@ E96 ?6H J62C[ 2G@:5 56?:2= 2?5 AC6E6?5:?8 :E H@?’E 92AA6?] w@?6DEJ H:E9 J@FCD6=7 :D 92C5[ 3FE :E 42? E2<6 2H2J 2?I:6EJ 2?5 DEC6DD :7 J@F 2446AE E92E J@F ?665 2 A=2?] s64:56 9@H >F49 563E J@F 2C6 H:==:?8 E@ 42CCJ 2?5 7@C 9@H =@?8] u:8FC6 @FE 2? 24EF2= A2J@77 52E6[ D@ J@F 42? 36 AC@24E:G6 ?@E C624E:G6] k^=:mk=: 52E2\=:DE\:E6>\:5lQ6c7`c425g34bea_h7g42h_hhh7342beh5QmkDEC@?8mw2G6 2 A=2? 7@C H92E J@F H:== 5@ :7 J@F 5@ 9:E J@FC 3F586E =:>:E 367@C6 J@F 2C6 5@?6 8:7E D9@AA:?8]k^DEC@?8m xE 42? 92AA6? 6G6? H:E9 E96 36DE :?E6?E:@?D] %9:D 8@6D 324< E@ E96 :>A@CE2?E 4@?46AE @7 D6=7\9@?6DEJ] q6 AC6A2C65 E@ =@@< 2E H92E :D =67E @? J@FC =:DE 2?5 564:56 H92E 42? 36 92?5=65 5:776C6?E=J @C D42=65 324<] %92E >:89E >62? 86EE:?8 4C62E:G6 H:E9 2 9@>6>256 8:7E[ @C 2 ?@E6 D4965F=:?8 2 D92C65 6IA6C:6?46 E92E J@F 42? D2G6 7@C 8C25F2==J] pD 2? 6I2>A=6[ C2E96C E92? 8:G:?8 2 8:7E 46CE:7:42E6 E@ 2 EC62E>6?E 2E 2 DA2 E92E J@F A2J 7@C ?@H[ >2<6 2 ?:46 A6CD@?2=:K65 42C5 AC@>:D:?8 E@ 8@ E@ E96 DA2 E@86E96C =2E6C :? E96 H:?E6C @C DAC:?8]  k^=:mk=: 52E2\=:DE\:E6>\:5lQ6``7g75273h_37a256hfh5_3bd5ecg`26QmkDEC@?8ms63C:67 :? y2?F2CJ[ 2?5 D6E FA DJDE6>D 7@C ?6IE J62C’D 9@=:52J 7F?5]k^DEC@?8m %96 A6@A=6 H9@ H:== 766= E96 >@DE 42=> 23@FE E96 9@=:52JD 2C6?’E ?646DD2C:=J E96 @?6D H9@ ?6G6C @G6CDA6?5] %96J 2C6 E96 @?6D H9@ =@@< 324< 9@?6DE=J 2E H92E 24EF2==J 92AA6?65 2?5 E96? D6E FA 2 D>2== 2FE@>2E:4 EC2?D76C DE2CE:?8 :? y2?F2CJ] %92E H2J s646>36C :D?’E 2 =2DE\>:?FE6 D4C2>3=6 E@ 7:?5 E96 >@?6J E@ A2J 7@C E96 9@=:52JD] k^=:mk^@=m

k9bmw@=:52J $A6?5:?8 up"Dk^9bm

kAmkDEC@?8m(92E :7 J@F 2C6 2=C625J :? 2 DA6?5:?8 A:?49nk^DEC@?8mk^Am

kAm%96 7:CDE E9:?8 E@ <66A :? >:?5 :D E92E J@F 2C6 72C 7C@> 2=@?6] %96 2H2C6?6DD @7 E96 AC642C:@FD D:EF2E:@? :D 2 3:8 DE6A >@G:?8 J@F :? E96 C:89E 5:C64E:@?] #68C6E 2?5 7CFDEC2E:@? 23@FE >@?6J 2C6 4@>>@? 766=:?8D 5FC:?8 E96 D62D@?[ 2?5 E96J 2C6 @7E6? 3FC:65 ;FDE 36?62E9 E96 DFC7246 @7 D>:=6D 2?5 9@=:52J 4966C] %96 8@2= ?@H :D?’E E@ D64@?5\8F6DD 6G6CJ AFC492D6 @C 766= =:<6 2 72:=FC6 3642FD6 J@F 5@?’E 92G6 E96 7:?2?4:2= C6D@FC46D E@ 3FJ 6G6CJE9:?8 J@F H2?E E@ 92G6 7@C J@FC 7C:6?5D 2?5 72>:=J] $E@A 2?5 C62DD6DD 367@C6 J@F DA6?5 2?JE9:?8 6=D6] {@@< 2E H92E :D =67E @7 E96 D62D@? 2?5 AFE :? 4=62C AC@E64E:@?D 2?5 8F2C5C2:=D 7@C H92E J@F 5@ 92G6 =67E] &?56CDE2?5 H96C6 J@F H:== 36 7:?2?4:2==J[ 6G6? :7 :E :D?’E 2 AC6EEJ A:4EFC6] $66:?8 2?5 2446AE:?8 C62=:EJ :D @7E6? =6DD DEC6DD7F= E92? 2G@:5:?8 :E 2?5 :>28:?:?8 E96 H@CDE]  k^Am

kAmkDEC@?8m(92E A6C46?E286 @7 J@FC :?4@>6 D9@F=5 8@ E@ 9@=:52J DA6?5:?8nk^DEC@?8mk^Am

kAm%96C6’D ?@ D:?8=6 C:89E ?F>36C[ 3FE 2 4@>>@? 36?49>2C< E@ <66A :? >:?5 H@F=5 36 C@F89=J `T–`]dT @7 2??F2= :?4@>6 7@C E96 H9@=6 D62D@?] %92E :?4=F56D 8:7ED[ 7@@5 2?5 EC2G6= 6IA6?D6D] %92E D2:5[ J@F 2C6 J@FC @H? 64@?@>J @7 @?6[ 2?5 J@F D9@F=5 AC@24E:G6=J E9:?< 23@FE H92E :D E96 C:89E ?F>36C 7@C J@F] (92E >2EE6CD >@DE :D E9@F89E7F==J A:4<:?8 2 ?F>36C :? 25G2?46 2?5 EC62E:?8 :E 2D 2 C62= 46:=:?8 C2E96C E92? 2 G28F6 DF886DE:@?] k^Am

kAmkDEC@?8mxD :E 325 E@ AFE 9@=:52J DA6?5:?8 @? 2 4C65:E 42C5n k^DEC@?8mk^Am

kAmxE 56A6?5D] x7 :E :D >2<:?8 :E E@@ 62DJ E@ DA6?5 >@C6 E92? J@F :?E6?565[ E96? J6D[ 4C65:E 42C5D 2C6 ?@E E96 36DE 49@:46] z66A :? >:?5 E92E :7 J@F 5@?’E A2J @77 E96 32=2?46 H96? E96 3:== 2CC:G6D[ :E H:== EFC? :?E@ ?6H[ @7E6? 9:89\:?E6C6DE 563E] w@H6G6C[ :7 J@F 42? A2J E96 32=2?46 @77[ 2?5 E96C6 2C6 C6H2C5D =:<6 42D9 324<[ FD:?8 2 4C65:E 42C5 42? 36 2 D>2CE >@G6]  k^Am

kAmk2 9C67lQ9EEADi^^HHH]244C65:E65563EC6=:67]4@>^3=@8^9@=:52J\DA6?5:?8\CF=6D^Qmk6>m%9:D DE@CJk^6>mk^2mk6>m H2D AC@5F465 3Jk^6>m k2 9C67lQ9EEADi^^HHH]244C65:E65563EC6=:67]4@>^Qmk6>mp44C65:E65 s63E #6=:67k^6>mk^2mk6>m 2?5 C6G:6H65 2?5 5:DEC:3FE65 3Jk^6>m k2 9C67lQ9EEADi^^9F3D]=2^"_b<=8$#_Q C6=lQ?@7@==@HQmk6>m$E24<6Ck^6>mk^2mk6>m]k^6>mk^Am