{"id":324788,"date":"2025-12-19T14:42:07","date_gmt":"2025-12-19T14:42:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/324788\/"},"modified":"2025-12-19T14:42:07","modified_gmt":"2025-12-19T14:42:07","slug":"if-you-want-to-stress-less-about-money-in-2026-make-december-your-reset-month","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/324788\/","title":{"rendered":"If you want to stress less about money in 2026, make December your reset month"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Dilys D\u2019Cruz, Meridian\u2019s vice-president of wealth, suggests saving up for Christmas gifts throughout the year to make the holiday season less stressful.Mark Blinch\/Reuters<\/p>\n

Oh, hi again. It\u2019s getting to that point in the month where your credit card bill starts reaching an unsavoury number as holiday gifts pile up. We chatted with Dilys D\u2019Cruz, Meridian\u2019s vice-president of wealth, about how to do a financial reset even in the middle of the holiday spending rush.<\/p>\n

Set your (financial) house in order for the new year <\/p>\n

Many Canadians promise they\u2019ll get serious about money come the new year. But waiting until Jan. 1 may be part of the problem why this resolution often falls by the wayside.<\/p>\n

A recent Meridian survey<\/a> found that 64 per cent of Canadians feel stressed about money, even though most are tracking their spending. \u201cThey\u2019re feeling anxiety, they\u2019re feeling stressed,\u201d said D\u2019Cruz, adding that 54 per cent of Canadians are \u201cspending without a plan.\u201d By the time the holidays roll around, that stress often gets worse, not better.<\/p>\n

That\u2019s why D\u2019Cruz says December is actually the perfect time to hit reset. \u201cNow is a great time rather than waiting till Jan. 1 to make New Year\u2018s resolutions on how you\u2019re going to manage your money differently,\u201d she said. \u201cYou have an opportunity to do things differently in the next few weeks.\u201d<\/p>\n

One of her most practical tips is what she calls \u201cthe big pause.\u201d <\/p>\n

With online shopping, personalized ads, and impulse buys everywhere, she says it\u2019s \u201charder and harder to say no.\u201d Her advice: Slow down. \u201cPause before you make that impulse purchase,\u201d she said, and ask yourself a few questions: \u201cDo I really need this? Am I overspending on gifts? Is this aligned to my values?\u201d When online shopping, try leaving items in your cart for 24 to 48 hours before hitting buy. Often, you\u2019ll realize you don\u2019t really need them, she said.<\/p>\n

Next, she recommends looking at your relationship with money. \u201cMoney is emotional,\u201d she said. Habits are often shaped by stress, anxiety or experiences from earlier in life. \u201cAre you repeating the same behaviours over and over and understanding what those triggers are?\u201d she said. \u201cIdentify what\u2019s important to you. What are my values, and is my spending in line with my values in terms of, am I spending on the things I want to, or am I just spontaneously spending?\u201d<\/p>\n

Finally, she suggests planning ahead for next year\u2019s holiday shopping. Set up a dedicated account and add a little each month. \u201cI love pre-authorized payments, so just transfer money out into a gift account, so that come December next year you\u2019ll have money saved up,\u201d she said.<\/p>\n

Setting yourself up for financial success now, D\u2019Cruz says, can make January feel a lot lighter. \u201cThis is the season to pause and understand where your money behaviours come from and what can you do to make some small changes in the new year.\u201d<\/p>\n

Subscribe to the Retire Rich newsletter<\/p>\n

Are you reading this newsletter on the web or did someone forward the e-mail version to you? If so, you can sign up for Retire Rich here<\/a>.The Calculator <\/p>\n

A recent study<\/a>, published by Toronto-based human rights organization Maytree, found that people aged 55 to 64 are over-represented among low-income Canadians, particularly those with disabilities, according to data from Statistics Canada. Often, these workers are forced into an early retirement because of health issues, but don\u2019t yet qualify for federal benefits.<\/p>\n

Have Your Say<\/p>\n

Are you a baby boomer who put downsizing plans on hold to accommodate an adult child living at home, or to preserve your kids\u2019 ability to come back home if they need to? Journalist Kelsey Rolfe is looking to speak with retirees and preretirees who are hanging onto the family home for these reasons, for a story for The Globe. Her e-mail is kannerolfe@gmail.com<\/a>.<\/p>\n

The Retirement Receipt Open this photo in gallery:<\/a><\/p>\n

Sammy Kogan\/The Globe and Mail<\/p>\n

How should Jodi, 74, draw down her savings without leaving a huge estate?<\/a><\/p>\n

The numbers: Jodi has a $2-million home in Toronto, a $2.4-million stock portfolio, $60,000 in a TFSA, and $346,000 in registered accounts. She wants to spend about $90,000 a year after tax, rising later if she moves to a top-tier retirement home.<\/p>\n

The situation: Jodi doesn\u2019t want to leave a large estate, but she also wants to enjoy her retirement without running out of money. She\u2019s invested mostly in stocks and is concerned about taxes and market volatility.<\/p>\n

Key steps, from a financial planner: Jodi will take the minimum from her RRIF and supplement her spending from her non-registered portfolio. She can gradually shift to a balanced mix of stocks, bonds, and cash to reduce risk. By keeping a few years of withdrawals in cash, she\u2018ll avoid selling stocks during a market downturn, and her withdrawals are structured to minimize taxes while maintaining her lifestyle.<\/p>\n

Best of the Rest <\/p>\n

\ud83d\ude97 Downsizing to one car doesn\u2019t mean giving up comfort or safety.<\/a> For seniors, experts suggest looking for a vehicle that\u2019s easy to get in and out of, has a higher ride height, and features such as a heated steering wheel. The key is picking a car that fits your lifestyle, keeps driving enjoyable, and meets your practical needs without compromise.<\/p>\n

\ud83d\udcc8 Dividend-focused portfolios don\u2019t need constant tinkering to perform well.<\/a> Recent analysis shows that rebalancing once a year, particularly in the fall, can sometimes beat more frequent adjustments, while quarterly or monthly tweaks may add costs without improving returns. <\/p>\n

\ud83d\udcaa You don\u2019t need a gym or fancy equipment to get stronger.<\/a> Calisthenics uses just your bodyweight and gravity to build muscle, endurance, and confidence, whether it\u2019s push-ups, squats, or more advanced moves like the human flag. It\u2019s scalable for all ages and abilities, so beginners can start small and progress safely, while competitive athletes can push limits.<\/p>\n

\ud83d\udca1 How you draw down your savings in retirement matters more than you expect.<\/a> In this video, Fred Vettese, former chief actuary at Morneau Shepell, shows how the right strategy can boost your annual income by thousands while reducing investment and inflation risk.<\/p>\n

Try This <\/p>\n

\ud83c\udf34 The best places for Canadians to retire list is here.<\/a> International Living\u2019s 2026 Global Retirement Index names places such as Greece, Panama and Costa Rica, as top spots for Canadians to retire next year. Canada isn\u2019t on the list, but these options provide plenty of inspiration for your next chapter (or even just a list of possible travel destinations for the new year).<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Dilys D\u2019Cruz, Meridian\u2019s vice-president of wealth, suggests saving up for Christmas gifts throughout…\n","protected":false},"author":2,"featured_media":324789,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,4174,4175,69186,56,54,55],"class_list":{"0":"post-324788","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-personal-finance","11":"tag-personalfinance","12":"tag-retirementnewsletter","13":"tag-uk","14":"tag-united-kingdom","15":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/324788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=324788"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/324788\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/324789"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=324788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=324788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=324788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}