The excitement is over, decorations have disappeared, and celebrations have faded into a dull remembrance. Another festive season has come and gone – in its wake, often leaving overwhelming and defeated emotions. Whether it’s buyer’s remorse after overspending, the emotional exhaustion of social gatherings or the challenges around extensive travels, moving back into routine often brings feelings of vulnerability and discomfort. Let’s explore a few common reasons and possible remedies for the post-holiday New Year’s blues.

Embarking on a Sobering Reality Path

The Financial Aftershock

The Regret of Overspending

Backed by artificial intelligence and continuous algorithm advancements, we should never underestimate the subtle power of persuasion to spend our money. This situation especially rings true when it taps into our emotional susceptibility during the holiday season. While the reasons for abnormal spending may vary widely, they often spring from within the deeply rooted realm of human psychology.  And even as the ability to give remains a gratifying gesture, we are continuously and collectively nudged toward a staggering rise in the already astounding levels of consumerism. The ripple effect, of course, comes with many devastating consequences – with none of us strangers to the concept of unwelcome, additional financial strain.

The Road to Financial Recovery

The best place to start is to make peace with the situation. As the old saying goes, ‘no use crying over spilt milk’, and never a more accurate expression. That is,  as long as we have learnt to keep a watchful eye on our financial balancing skills by starting to improve our financial literacy levels. Accepting the situation and bypassing the guilt, a clear view of the economic situation could be liberating. At the very least, this may provide a starting point for better planning going forward, which allows for taking back control. Create a budget for January, make a concerted effort to prioritise non-negotiable expenses and reconsider or cut back on non-essential spending. These may sound like small steps, yet consistent financial self-discipline can make a huge difference.

The Psychological Aftermath

The Emotional Ebb and Flow

The concept of gravity suggests that what goes up must come down, and this reality presents itself over and over in almost every area of our daily lives. Sadly, the consequences of the prolonged festive season also don’t always go easy on our emotional and mental well-being.  Family expectations, social pressures, and gift management can be exhausting, and when all over, the sudden quiet can leave us feeling entirely out of sync. These emotional or mental shifts can severely affect how swiftly we can transition into a new year that often brings brand-new or increased challenges.

Taking control of the Transition

Gradually ease into the routine.  Starting with more minor, achievable goals is much more sustainable than grand plans that require radical and unrealistic levels of self-discipline. The latter carries the potential to turn into resentment soon enough, undoing the initial efforts of growth and short-lived achievement. While planning is essential, we should refrain from dwelling too much on thoughts of how to control every potential eventuality. Life always happens, and things rarely turn out exactly as we initially thought. Instead, the more productive use of energy is to reflect on the times when things worked out way better than we ever thought they could – with gratitude remaining the magic word.

The Economics of Merrymaking

Commercialisation and Consumerism

We often associate the festive period leading up to New Year’s with considerable large-scale shopping activity. However, taking into account global diversity, there are approximately 30-50 prominent annual celebratory days worldwide. Quite a number of these occasions may be celebrated over extended periods, some even spanning a few weeks, with consumers continuously being artfully nudged into buying more and more. Today, this ever-growing consumer culture overshadows the deeper meaning and spirit of most of these joyous occasions.

Two Sides of the Festive Economic Coin

Some economic sectors and industries, like retailers and delivery services, thrive during these times. Yet, the New Year often arrives to find many households experiencing grave financial stress – mainly caused by overspending. The study of the human psyche, combined with the advanced use of artificial intelligence and technological algorithms, has progressed to a level few pause to consider. The negative externalities of consumerism during festive periods add to the existing detrimental effects on the environment. Discarded wrapping paper, plastic products and packaging, unwanted gifts and trinkets – they all contribute to the further pollution of poorly managed water resources and threaten wildlife conservation. In summary, the economic benefits of the festive season come at an astronomical price.

Consumption: New Year, New Perspective

Ruminate. Reflect. Action.

January brings the perfect opportunity to start afresh. Maybe strive to apply the energy, consumed by memories of regrettable spending, toward constructive personal growth opportunities by acquiring a basic, yet broad understanding of economics. Ponder on what you have learned from the overspending experience. Could you consider a shift from material gift-giving, to sharing unforgettable moments and significant experiences with loved ones? After all, the gift of time remains priceless. The dawn of a new year brings an opportunity to realign and readjust. Refrain from regrets of past spending and instead focus on lessons learnt. You may be surprised by the impending moments of epiphany once you take the time to consider ways to improve your future financial situation.

Forming Manageable & Sustainable Habits

Whether splashing on material gifts or not, we spend more during festivities. This year, start early by setting a monthly savings goal. Plan your budget for the following holidays and review them periodically. Make a concerted effort toward taking longer to decide whether an item is genuinely needed,  and avoid impulsive purchases. Reprogram your mindset about money, consciously striving to break free from the cycle of materialistic consumption patterns.

Conclusion: Consumerism – Let’s Do Better

For the most part, life remains a challenging journey. That said, we also have the power of choice, rooted in our ability and willingness to learn from past mistakes. There is no doubt that times of festivities still bring the occasional splashes of colour to our lives amidst the often prolonged periods of dull grey. So let’s continue to celebrate, unwind and be merry, yet now with a refreshed approach of clarity and purpose. Collectively, we can once again allow a wholesome sense of balance, higher purpose, and fulfilment back into our busy lives.