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Financial anxiety spikes during the holidays: 6 expert coping strategies

The holidays, for all their warmth and connection, can push us over the edge in terms of financial stress. Despite dwindling savings accounts, we may not want (or feel able to) cut back on holiday travel or gifts for loved ones. According to , 79% of consumers have less than $1,000 set aside for the 2025 holiday season, and over half (52%) expect to incur debt that will take months to pay off.

Living in a state of financial anxiety—defined as persistent worry, dread, or stress about money—is becoming the norm. In , 80% of Americans reported feeling some level of anxiety about their finances, and 34% described their anxiety as “moderate” or “severe.” When asked about specific stressors, respondents pointed to inflation, everyday expenses, the state of the economy, and their income as their top concerns.

This year in particular, financial anxiety may be compounded by erratic economic headlines, job market concerns in response to at companies like Amazon and UPS, as well as ongoing questions about how AI will reshape or potentially eliminate a wide range of careers.

With that in mind, recommended six strategies for managing financial stress during the holiday season.

Financial Stress Can Impact Every Aspect of Our Lives

Anxiety about money can steal the joy from holiday celebrations or what could be cozy moments at home. When you’re feeling anxious for any reason, it’s natural to shift into “survival mode.” This may appear like pulling away, becoming short-tempered, or focusing on control (“We ������’t spend on that”) instead of staying connected. In these instances, the stress isn’t just about money—it’s about the fear, uncertainty, and insecurity underneath it.

A revealed the extent to which financial anxiety is impacting Americans’ lives:

• 25% of Americans say money worries keep them up at night on at least a weekly basis.
• 57% of those who are married or living with a partner say that financial uncertainty has impacted their relationship with their spouse or partner.
• 55% of Americans say they’ve missed out on social events due to financial concerns.
• 49% say money worries have affected their job performance.
• 40% of Americans say financial worries have made them physically ill.

The good news? Financial anxiety, while overwhelming, responds well to targeted strategies that address both the practical and emotional sides of money stress.

Therapist-Backed Strategies That Help You Cope with Financial Stress

Addressing financial anxiety during the holidays, or at any time of year, isn’t just about managing numbers on a spreadsheet. It’s about understanding the emotions, beliefs, and pressures that shape our relationship with money. If you’re experiencing financial stress, seeing a mental health therapist can be equally as beneficial as using a budgeting app or working with a financial advisor.

While working with a therapist who understands your unique situation will have the best outcomes, following these therapist-approved approaches can help you navigate this season with more clarity and less stress.

1. Get clear on what’s important to you.

What do you truly value during the holidays? It may be spending time with your kids, engaging in traditions passed down through generations, catching up with old friends, reconnecting with your childhood, or a chance to sit down and do nothing for a change. When you identify what’s actually important to you, it becomes easier to spend (and not spend) intentionally.

Put this value-based spending into practice by jotting down your top two or top three holiday priorities. Then test each potential purchase. Are you buying something that aligns with one of your top priorities? If not, consider putting your wallet away.

2. Fully explore the scary “what-ifs.”

Financial fears can feel vague and overwhelming. Instead of letting your worst-case financial scenarios swirl around in your head, try walking through them, step by step:

• What would really happen if your expenses or job situation changed?
• Who would be willing and able to support or advise you?
• How could you realistically downsize or cut back?
• What opportunities might you have for earning additional income?
• Which organizations offer resources and advice?

Talking through the actions you could take with a therapist, or someone else you trust, can be surprisingly reassuring. It helps shrink the sense that “anything and everything could happen” and gives you back a sense of agency and resilience. You may also realize that you have a social safety net and would be okay even if your financial situation were to worsen.

3. Challenge your anxious thoughts.

When thoughts like “I’ll never pay off this debt” or “I’m going to lose everything” show up, pause and ask yourself two helpful questions:

• What evidence actually supports that belief?
• What might be another, more balanced interpretation?

Anxious thoughts often present narratives as facts when they’re usually closer to assumptions or worst-case guesses. The simple—though not always easy—act of challenging them can reduce the intensity and frequency of those thoughts. Using a printed worksheet can help you take action.

4. Reconsider what “self-care” looks like.

It can be tempting to soothe financial anxiety by buying yourself something to “help you feel better.” This works temporarily due to the quick hit of dopamine and endorphins—and the illusion of control that comes from making a choice and taking action.

But there are many other ways to take care of yourself and still get that dose of feel-good hormones. When you’re craving self-care, try experimenting with other forms of comfort, such as walking outside, journaling, calling or seeing a friend, or setting one small financial boundary that will support you in really taking control of your money.

5. Set boundaries around holiday gifts.

The holidays don’t have to be about spending big to show you care. Have open conversations with family about budgets or gift exchanges. Suggest a price cap or set expectations that any presents from you will look different this year. Commit to making meaningful but low-cost gifts, like handmade cards, lovingly-prepared food, a shared experience, or helping someone with a task that’s been weighing on them.

You’ll likely be surprised by how much relief (and closeness) comes from simply being honest. Also, as evidenced by the statistics shared above, it’s unlikely that you’re the only one in your family stressed about money right now. Your loved ones may also be eager for new traditions that save everyone money.

6. Say “No,” even if it feels uncomfortable.

If a trip, gifts, or other holiday expenses just aren’t realistic this year, what if you let that be okay? Your loved ones may feel disappointed, but you need to do what’s best for you.

You can try saying something like, “Unfortunately, I won't be able to take part in [insert family tradition here] this year. I’m disappointed, but hopefully I can join next year.” Explain as much or as little as you want to about your reasoning.

You might assume that people’s reactions will be far worse than they turn out to be or that you won’t be able to handle the emotional fallout. Taking a chance with honesty can be a reminder that people are often understanding and generous and that you’re stronger than you think.

How a Therapist Can Support You Through Financial Anxiety

If persistent worry about finances is making it hard for you to function in your personal relationships, at work, or to feel good about yourself as a person, it’s important to see a therapist sooner rather than later. In addition to helping you understand and challenge the underlying beliefs fueling your financial anxiety, therapy provides techniques to calm your nervous system, allowing you to approach financial discussions and decisions from a place of clarity rather than fear.

The therapeutic process recognizes that financial wellness and mental wellness are deeply interconnected. By addressing both the emotional and practical aspects of your relationship with money, therapy can help you develop sustainable strategies for managing financial stress and building long-term financial confidence.

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