Inflation and the Holidays

December 3, 2022 Elsa Orlandini

As the holidays approach, many are concerned about the rising cost of goods due to inflation. Psychologists and counselors have reported an increase in individuals seeking psychotherapy and couples counseling services in order to address stress related to inflation and financial planning. Although the holiday season is known as the most wonderful time of the year, many are worried that it is also the most expensive time of year. It comes with no surprise that this year’s holiday season may be more expensive than previous years, as the price of goods, groceries, airline tickets, and fuel have increased. Coping with higher prices may be especially difficult for families with children, as they want to keep the holiday spirit alive with traditions and gifts. Many parents seek help from psychologists and receive counseling services to help them navigate change and communicate with their children. More and more parents are realizing that cutting back on gift buying and expenses, does not mean a special and festive holiday season isn’t possible.

You are not alone if you are feeling overwhelmed this year due to the impact of inflation and wanting to have a special holiday season. Recent media sources have reported that approximately 2 in 5 Americans plan on cutting back on holiday shopping due to higher prices of goods. Psychologists have also reported that inflation has psychologically impacted our society as a whole. Americans are finding creative ways to celebrate this year with their loved ones and are more focused on spending quality time with loved ones, rather than spending exorbitant funds. The following are some tips that may help decrease stress and worries related to this upcoming holiday season:

Remind yourself that the holidays are about spending quality time with loved ones and creating memories for the young children around you. Planning activities, such as family game nights, walks around the neighborhood, DIY gift making, and baking holiday cookies together could be fun and affordable activities everyone may enjoy. Family counselors and child psychologists often emphasize the benefits of spending quality time with children during the holiday season.

Use time together as an opportunity to create new traditions with family and friends. For example, instead of buying gifts for everyone, consider participating in a Secret Santa with your loved ones. If you are hosting, it may also be helpful to host a potluck, which allows everyone to be in charge of a specific dish to share with the group. Asking for help and assigning tasks can significantly help in decreasing stress around the holidays.

Many psychologists and counselors also recommend that individuals are honest with family members about any financial struggles they may be facing. Not opening up to loved ones about any hardships may increase your stress and make you feel worse. Allowing loved ones to understand how you may be feeling, will help you set more effective boundaries and decrease pressure you may be feeling.

It is also common for couples to experience some conflict due to disagreements related to financial decisions during this difficult economy. Seeking help from a couples therapist and receiving couples counseling can help couples become more aligned and communicate financial concerns more effectively. Couples counseling provides couples with a space to discuss difficult topics while improving their communication skills.

The holidays may look different this year; however, there are effective ways to cope with change and maintaining the holiday magic. If you find yourself worrying excessively or feeling the pressures of the holiday session, then you may benefit from the help of a qualified psychologist. Individual or family therapy services with a licensed psychologist can help address concerns in a safe and therapeutic space. The Miami Psychology Group offers individual, family, and couples therapy services in the Miami and Miami Beach area.