Anyone else get anxiety about all the end of year expenses?

[Anonymous]

I feel like December comes around every year and there are SO many expenses. Christmas is a big part of it, but definitely not the only part.

It gives me quite a bit of stress and anxiety.

Does this happen to a lot of people? How do you deal?

[Anonymous]

No anxiety here, and the majority of my major big-ticket expenses (auto and home insurance premiums, half of my yearly property tax, HOA dues, etc.) come due mid-Nov. to mid-Dec. That’s because when preparing my annual budget at the beginning of each year I account for 1/12 of these expenses each month. When the bills arrive, I’ve got the funds already “escrowed.”

[Anonymous]

Yes. Not so much end of this year but next.
DH retired. I never kept a budget and didn't know how much we spend. I finally just added up all our checking account debits and checks for the last 2 years, figure that covers it. Worry about how to get our money out of TiAA. They really don't make it easy or transparent,

[Anonymous]

I budget on an annual basis using a zero-dollar budget which means I know where every dollar is going. I increase the budgets for groceries, entertainment, and gifts dramatically in Nov and Dec so the money is waiting for me when they arrive. We used the Entertainment dollars to buy tickets to the Nutcracker and Wicked: For Good. We'll use the rest for the Brookside Gardens Light Show. I've started my Christmas shopping, too. Groceries will naturally increase when I shop for family dinners and bring hostess gifts. I find that having a plan lowers my stress. I still stress about the actual stuff, but not about the money to pay for it.

[Anonymous]

Yes and I can easily afford it. Still stresses me out. Probably because my parents always worried about money.

[Anonymous]

You Need A Budget.

https://www.ynab.com/

This is the answer to your anxieties. I have spending categories at up for absolutely everything, including "Christmas" to which I allocate $200 every month. When December rolls around each year, I have $2400 waiting for me to spend.

Highly recommend!

[Anonymous]

No, because I don't have end of year expenses.
I don't do parties as a single person (my partner passed away) and wouldn't even have the space.
My kids are taken from me by relatives almost every holiday and school break. Nobody expects anything from me. They know I can't cook or host.
The thought of having to work full time until 62 stressed me out previously. I fixed it by investing the minute I could. I do work, but very part time.
I budgeted even as a kid. I enjoy cutting expenses more than adding work days. Both can be done easily.
Next stressors might be my health as I'm nearing 48. I don't like weight training.

[Anonymous]

It seems end of year expenses are unique to each person.

Other than Christmas gifts, which we don’t go crazy with, my end of year expenses aren’t really different than any other month.

I am curious what your end of year expenses aren’t outside of holidays.

[Anonymous]

Yes, both of my kids have birthdays in late fall as well so basically Halloween through Christmas is parties and presents. I was quite stressed about it while I was on furlough and worried about getting laid off. Now that it looks like I'll have a job through January at least, we should be fine as long as we spread out the gift buying from now through Christmas (huge extended family).

[Anonymous]

Anonymous wrote:I feel like December comes around every year and there are SO many expenses. Christmas is a big part of it, but definitely not the only part.

It gives me quite a bit of stress and anxiety.

Does this happen to a lot of people? How do you deal?

I do. Same with back to school, birthday season, anytime we do a small house project, etc.

And it’s ridiculous because we have plenty of money and live well beneath our means. It’s just a personal issue I have.

[Anonymous]

Yes. The only expenses I have control of are the fixed ones. But when it comes to holidays, im generally opposed to all the added expenses such as buying gifts for every person in existence - teachers, coaches, relatives, etc. And then having or attending all these get togethers and so on. But i have a spouse and 3 kids and my being a frugal, anti-social being wont deter them. I hate when cash flow is tight, but once it cuts too deep I will speak up and get the household to cut back.

[Anonymous]

Quite the opposite actually. By early fall, I’ve met my heath insurance deductible, maxed out my 401k, and met the social security tax limit, so my paychecks go up and insurance cover more of our services.

I am a HARD CORE Target reward seeker throughout the year, so by Christmas I have hundreds of dollars worth of gift cards and Target Circle rewards. This covers Christmas for the kids and then some.

All of this above resets January first so things go back to being a bit stricter.

[Anonymous]

I am the never had a budget person.
At year end we get pre pay invoices for yard care, HVAC maintenance.

[Anonymous]

No. I spend less than $500 on Christmas expenses.

[Anonymous]

Anonymous wrote:You Need A Budget.

https://www.ynab.com/

This is the answer to your anxieties. I have spending categories at up for absolutely everything, including "Christmas" to which I allocate $200 every month. When December rolls around each year, I have $2400 waiting for me to spend.

Highly recommend!

Not OP, but I definitely do. Thanks for the link.