Episode: 369 - Stop the Year-End Money Spiral: 6 Steps to End Strong Instead of Stressed
Let’s be real. By this time of year a lot of people have mentally checked out. Pumpkin spice is everywhere, Christmas decorations are already in stores, and many are saying “I’ll start again in January.”
But here’s the truth. You still have time to make real progress.
Sixty days is more than enough time to make changes that will help you walk into the new year feeling proud instead of regretful. You don’t need perfection. You just need a plan.
Here are six simple steps you can take right now to finish the year strong.
- Get honest about where you’re at
Avoiding your finances doesn’t make things better. It keeps you stuck. Open your bank accounts, look at your balances, and face the numbers. When I was deep in debt, I avoided looking for months because I was scared of what I’d see. But once I finally faced it, I stopped feeling powerless and started feeling like I could actually do something about it. You can’t move forward if you don’t know where you’re starting. - Pick one goal to focus on
Don’t try to fix everything at once. Just choose one goal that would make you proud by December 31. Maybe it’s paying off one credit card, saving $500, or finally sticking to your budget for the next two months. When you focus on less, you achieve more. - Rebuild or boost your emergency fund
If you dipped into it this year, that’s okay. That’s what it’s for. But now’s the time to rebuild. Having $500 to $1,000 tucked away helps you avoid turning to credit cards when life happens. And let’s be honest, the holidays are full of “life happens.” - Cut or pause one expense
Pick one thing you can pause until January. Maybe it’s a streaming service, eating out less, or taking a break from impulse shopping. Even freeing up $100 gives you more room to breathe, and that extra cash can go straight to your goals or your holiday budget. Small wins add up fast. - Make a plan for holiday spending
If you don’t plan your holiday spending, it will plan you. Write down who you’re buying for, what events are coming up, and how much you’ll realistically spend. Then divide that total by how many paychecks you have left this year.
And remember this. The people who love you don’t need expensive gifts. They’d rather see you less stressed than maxing out your cards. Be realistic, not guilty. - Celebrate progress, not perfection
You’ll have weeks where your plan falls apart. That doesn’t mean you failed. It means you’re human. Every small win counts. Maybe you paid cash for gifts this year. Maybe you opened your budget again after ignoring it for months. That’s progress.
You don’t have to wait for January 1 to feel proud. You can start now.
If you follow these six steps, you’ll walk into the new year with momentum instead of money regret. The next two months are your opportunity. Make them count.
And if you need help finding that first bit of progress, check out our free workshop Find Your First $100 (or more) FAST! It will show you exactly how to start saving money right away and build confidence with your finances again.
Resources Mentioned
Subscribe to Simplify My Money: https://www.debtfreedad.com/newsletters/simplify-my-money
The Totally Awesome Debt Freedom Planner https://www.debtfreedad.com/planner
Connect With Brad
Website- https://www.debtfreedad.com
Facebook - https://www.facebook.com/thedebtfreedad
Private Facebook Group - https://www.facebook.com/groups/debtfreedad
Instagram - https://www.instagram.com/debtfreedad/
TikTok - https://www.tiktok.com/@debt_free_dad
YouTube - https://www.youtube.com/@bradnelson-debtfreedad2751/featured
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Transcript
Amber Taylor:
Let's be honest. We are almost at the end of the year. Pumpkin spice is in full swing. Christmas stuff is already on the shelves. And a lot of people have mentally checked out of their goals. You might be thinking, I'll just start in January. But listen, you still have time to make real progress before the year is over. 60 days is plenty of time to turn things around.
Announcer:
You're listening to the Debt Free Dad podcast with Brad Nelson. Brad and his co-hosts experience the anxiety of living paycheck to paycheck before learning the fundamentals of financial success. They are now on a mission to empower regular people to pay off their debt for good and enjoy happier, less stressful lives. Keep listening for inspirational interviews, tips, tricks, and practical advice to gain financial freedom.
Amber Taylor:
Hi, I'm Amber, today's host for the Deb Free Dad Podcast. My husband and I saved and paid off $54,000 in just 20 months. And we have been living debt-free outside of our mortgage since 2018. Today I'm walking you through six simple steps to finish the year strong, even if you've fallen off track, spent too much, or haven't looked at your budget in months. No guilt, no perfection, just simple steps to help you feel proud by December 31st. Step one, get honest about where you're at. You've got to look at the numbers. I know, I know. It's not fun. But this step alone gives you power to pull up your bank account, your credit card statements, all of it. Face it head on instead of guessing. When I was deep in debt, I avoided looking at my balances because I didn't want to see how bad it was. But once I did, something changed. I stopped feeling scared of this unknown number of what was to come. And I started feeling like it was something that I could actually fix. You can't move forward if you don't know where you're starting. Step two, pick one goal to focus on. Just one. You don't need to fix everything before the ball drops. Just choose one thing, one small goal that would make you feel proud to say, I did that this year. Maybe it's paying off a credit card. Maybe it's saving $500. So you're not using debt for the holidays. Maybe it's simply sticking to your budget every week through December. The trick is focus. When you stop trying to do everything, you finally start to see results. Step three, rebuild or boost your emergency fund. If you had to dip into it this year, no shame. That's what it's built for. But you have to rebuild it. Having $500 to $1,000 tucked away will keep you from adding more debt when life happens. And let's be real the next couple of months are full of life happens. Holiday invites, travel, random gifts, all of the little extras that sneak up. You don't need a perfect emergency fund right now, just a small cushion that gives you a little bit of breathing room. Step four cut and pause one expense. Just one. This one's a quick win. Look at your spending and pick one thing that you can pause until January, or even altogether, because you haven't been using it for a really long time. Maybe it's a streaming service, eating out less, skipping those impulse Amazon orders. You're not canceling it forever, of course, unless you want to. Even freeing up an extra hundred bucks can go straight towards your goal or your holiday budget. And if you want a little extra help finding that first bit of progress fast, grab our free workshop, find your first hundred dollars. It's going to show you exactly how to free up cash, start saving, and building confidence with your money again. You could sign up by using the link at the top of the show notes. Step five, make a plan for holiday spending. If you don't plan it, it will plan you. It's gonna happen whether you're ready or not. Write down who you're buying for. We literally just did this this week, my husband and I. We planned who we were buying for. We planned how much we were spending in total. And now we just gotta focus on sticking with the budget. So, what events do you have? And roughly how much is it gonna cost? Then divide that total by how many paychecks you've got left this year, even if you can't cover it all, having a plan stops you from using credit cards in panic mode. And let me say this the people who love you don't need expensive gifts. I'm gonna repeat that. The people who love you do not need expensive gifts. They're still gonna feel loved, regardless of what you get them. They want you to be happy, they don't want you to be stressed about money. So be realistic, not guilty. Set boundaries that protect your budget and your peace. Heck, you could even give holiday gifts that are homemade. Get creative. Look into experiences that don't cost a lot of money and plan for that over the holiday season with your friends and family. And step six, celebrate your progress, not perfection. This one matters the most, I think. You're going to make mistakes. You're going to have weeks where your plan just falls completely apart. That doesn't mean you failed. It just means you're human. Every little win counts. Maybe you paid cash for gifts this year instead of swiping a card. Maybe you finally opened up your budget again. Maybe you just showed up to listen to this podcast. That's progress. But I challenge you to pick one more outside of getting to the end of this podcast. You don't have to wait for January 1st to feel proud. Start right now. So here you go. Six steps to finish the year strong. Let's recap. Number one, get honest about where your numbers are. Number two, pick one goal to focus on. Number three, rebuild your emergency fund. Number four, cut out one expense. Number five, plan your holiday spending. And number six, celebrate progress over perfection. If you do these six things, you'll walk into January with momentum instead of regret. So you've got two months left. Make them count. Remember, you don't have to be perfect, just consistent.
Brad Nelson:
Now listen, if you're ready to break free from living paycheck to paycheck, which if you're listening, I hope you are. You want to reduce financial stress, you want to build savings, you want to finally pay off debt for good, but you're not sure where to get started. Don't worry. We've got to cover here at Deaf FreeDad. Simplify My Money is sent each Sunday to your email. We make it easy. And Simplify My Money, it's your step-by-step roadmap to better financial control. And you're also going to learn easy to follow strategies to manage your money effectively. You're going to get stress-free money decisions that will help you simplify your financial life with proven tips that actually work. You're also going to gain the tools and the confidence to tackle your financial goals head on. You can sign up for Simplify My Money by clicking the link at the top of the show notes. Thanks for joining us on today's show, and we will see you guys on the next episode.
Announcer:
Thanks for listening to the Debt Free Dad podcast. Connect with us on Facebook, TikTok, YouTube, and Instagram. Just search Debt Free Dad. If you found value in today's episode, please leave us a rating and review. We so appreciate it. For resources, show notes, and links mentioned in today's show, visit debtfreedad.com. Catch you next week.
