The mistakes that we need to avoid during the holidays

How many of you are so excited about the holidays? I can sense the energy that’s a little bit laid back and scattered from everybody, including myself. There’s a lot of stimulation going on, so I would like to talk about the mistakes we need to avoid during this holiday season.

1. Health

Many of us, during the holidays, would tell ourselves, “It’s the holidays, I’m gonna eat everything I want, drink everything I want, and stop working out for now”, “I would start eating healthy in 2021” and completely let go.

I want you to think about last Christmas when you said the same thing to yourself and go back to how long it took for you to pick up your momentum. Momentum is very hard to build but very easy to lose, just like muscles.

I am very grateful that I have an accountability coach. Here’s what I did – I still work out, however, because of the holidays my mind is focused on the fun and pleasure, so I couldn’t do a lot of intense workouts. I do not want to completely drop the habit, so we adjusted the intensity and reduced the frequency of my workouts.

I still work out so I keep the momentum and keep my healthy habits. Don’t lose the momentum you have built for yourself.

Don’t wait until January 1st to write down your 2021 goals. At that point, it’s already pretty late.

I’m a big believer in health. I am a big advocate of having a healthy lifestyle because I have seen so many people who have lots of wealth, but not a healthy body. Set health as a priority for yourself in 2021.Without a healthy body or enough energy, how do we show up for our business, family, friends, or our community?

2. Excessive Spending

During the holiday season, people keep buying everything they see. I’m not against consuming. I’m not an advocate of living within your means and I always encourage people to have a lifestyle, however, that’s on the foundation of you taking care of your personal investments and finances.

Before 2021 comes, I have a session with my husband. We sit down and we look at our overall financial picture for 2021. We project how much money will be coming in, how much we can set aside, and how much our expenses will be. We have a big picture of the financial goal we want to achieve, including the family vacation we want to have.

We still have fun, but we also want to take care of our foundation, which is our retirement and investments. We project how much money is coming in and I set aside the portion that I want to invest in 2021, and the rest is for our lifestyle.

You can have everything. You just need to be prepared. You need to plan and always pay yourself first. Investment is your number one priority because if you don’t, how will you build passive income by the time you retire?

Money takes consistent compounding. During this beautiful holiday season, while we’re spending and buying gifts for our family, don’t forget to plan for 2021 finances too.3. Mismanaging Your Finances

A lot of people do not know how much money comes in and how much comes out.

Personally, I wrapped up my income and expenses for the whole year of 2020 so that I can have an idea about how much I spend on different categories such as food, mortgage, car, shopping, vacation, etc. This way, I get an idea and I can adjust my spending habits. You get to have some clarity on your finances and you are not kept in the dark.

Before 2020 ends, sit down and take a look at your finances. See where you spend a lot of money, and adjust that to build smarter spending habits.

I hope all of you have an amazing holiday and that you get to connect with your friends and family. I hope you all enjoy it and you get to rejuvenate yourself and be prepared so we can walk into 2021 with energy, focus, and a lot of mental clarity!

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