Financial Refresh: How to Cut Back on Spending After the Holidays

December 2024

Front Page

Happy Holidays!
Please Note Our Seasonal Hours

Sales
Open Dec 22nd 11am – 5pm
Open Dec 23rd 9am – 6pm
Open Dec 24th 9am – 5pm
CLOSED Dec 25th
Open Dec 26th 11am – 5pm
Open Dec 27th 9am – 6pm
Open Dec 28th 9am – 6pm
Open Dec 29th 11am – 5pm
Open Dec 30th 9am – 6pm
Open Dec 31th 9am – 5pm
CLOSED Jan 1st
Open Jan 2nd 9am – 6pm

Service/Parts
CLOSED Dec 22nd
Open Dec 23rd 8am – 5:30pm
Open Dec 24th 8am – 5pm
CLOSED Dec 25th
CLOSED Dec 26th
Open Dec 27th 8am – 5:30pm
Open Dec 28th 8am – 5:30pm
CLOSED Dec 29th
Open Dec 30th 8am – 5:30pm
Open Dec 31th 8am – 5pm
CLOSED Jan 1st
Open Jan 2nd 8am – 5:30pm

Festive Window Painting!
Done by @graphicgarden

FREE Rock Chip Repair
Fix it Fast and for Free

Don’t let a small windshield rock chip turn into having to replace your windshield!

Colder Months are Coming
Book your Winter Tire Swap

As the colder months approach, it’s time to start thinking about winter tires. To ensure your safety on the road, we recommend scheduling your winter tire swap as soon as possible.

Build Your Deal
The West Coast Way

The West Coast Auto Group has been an integral part of the Pitt Meadows and Maple Ridge communities for nearly 60 years. We are proud to support various community organizations.

Financial Refresh: How to Cut Back on Spending After the Holidays
Simple Ways to Regain Control of Your Finances After the Holidays

The holiday season often involves a whirlwind of spending that doesn’t really hit you until the bills roll in. With some of the right strategies, you can help get your finances back on track.

Once the holidays are over, the New Year presents a great opportunity to reassess and reset your finances. If your credit card took a hit from all the gifting, feasting, and celebrating, then take it as a chance to reign in your spending and build some better habits going forward. Use these practical tips to help you get started.

1. Take a good look at your finances

The first step to cutting back on spending is to get a good overview of your entire financial situation. Review your bank and credit card statements to see exactly how much you spent over the holidays. It might be a bit of a shock, but understanding where your money went is key to reining in your expenses. Once you have a clear view of your finances, you’ll be better able to set effective goals.

2. Revisit your budget

With a good picture of your finances, you can revisit your budget more effectively. List out your necessary expenses, then look for places where you can cut back. To find these saving opportunities, be honest about your spending habits. For example, if you’re used to dining out several times a week, try limiting it to once or twice and opt for home-cooked meals on other days. Another easy place to save is to reduce your subscription services, which can quickly add up if you’re not keeping track of them.

3. Resist those post-holiday sales

It can be difficult to get out of a shopping mindset after the holidays, especially when outlets start advertising tempting post-season sales. If an item on sale is something you truly need and have budgeted for, then of course you want to take advantage of a fantastic deal. However, it is important to resist impulse purchases of things you would not have bought otherwise. If it’s an item you’re not sure of, then try to wait at least 24 hours before making your final decision. The thrill of finding a good deal might fade and you will decide you don’t really need it after all.

4. Practice a “no-spend” January

No-Spend January has become a trend in recent years as a way of helping people curb their spending habits after the holidays. Of course, it is impossible to not spend any money on essentials like groceries and bills. Instead, the idea is to entirely cut out non-essential purchases. Depending on your current spending habits, this can include not ordering any takeout, not visiting coffee shops, not buying any new clothes, and no activities like movies or concerts. Instead, focus on finding creative ways to enjoy free or low-cost activities, like visiting local parks, organizing a game night with friends, or hosting a movie marathon at home. Even a short no-spend period can help you realize how much you’re spending on things you don’t really need.

Ease your budget back into balance with some smart tweaks and mindful choices. By making changes to your spending practices after the holidays, you’ll quickly find yourself on firmer financial ground.

Published by VehicleSend on behalf of West Coast Ford Lincoln
Includes copyrighted material of VehicleSend and its suppliers.