If you’re considering spending less on gifts this holiday season, you’re far from alone. About a quarter of shoppers have had or plan on having a discussion with friends or family members about cutting back on spending for holiday gifts this year, according to NerdWallet’s annual holiday shopping report. It might be comforting to know you’re not the only one who’s going to be wrapping fewer gifts or gifting less extravagant items, but it can still feel awkward to dial things back—especially if you wind up receiving more (or pricier) items than you were planning on giving.
“It absolutely can affect your self-esteem, it can affect your self-worth, and it can affect your self-image,” says psychotherapist Adrine Davtyan, LCSW, of the financial need to scale back holiday gift-giving or worse, accept an expensive present while you’re in the fiscal trenches. And yet, you shouldn’t feel bad about drawing a line in the sand (or snow, rather) when it comes to gift expenditures, given the importance of prioritizing your financial well-being.
To get ahead of uncomfortable g
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