In a time of increasing financial pressures, deciding what and how much to give your loved ones can be a thorny issue.
This holiday season, 65% of adults say it’s “nearly impossible” to know how much they can safely spend, according to a recent survey of more than 2,000 adults by Beyond Finance.
“People feel torn between wanting to create joy and the guilt of knowing they can’t afford it,” Erika Rasure, chief financial wellness advisor at Beyond Finance, said in a press release. “When cultural norms, family traditions, and social media all amplify that pressure, overspending becomes emotional, not rational.”
Overspending isn’t the goal, but generosity often is. Still, that generosity shouldn’t cost you your financial wellbeing, she tells CNBC Make It.
“Being generous shouldn’t make you feel bad,” Rasure says. “We take care of other people by being generous, but we also have to remember to do that for ourselves.”
