4 Life Expenses to Reconsider, from the Holidays and Beyond

by Obinna Morton

Last year we wrote a Medium post about why you should be mindful more than ever about your purchases during the holiday season. The Grinch may have stolen Christmas, but when it comes to debt, the Grinch can be all of us. And without paying attention to our finances, we are liable to steal away our own contentment and financial well-being.

So today, we thought we’d take a moment to add to the list of ways you can avoid the naughtiness of debt and be nice to your pocketbook or wallet — and future self — throughout the year.

Call it money management 365, and a quarter. We always count the leap year.

Here are some additional moments in life to really hone in on what you can afford and will spend to avoid unexpectedly going into debt: 1) Holidays and Birthdays 2) Vacations 3) Weddings 4) Tech.

Holidays and Birthdays

Christmas is right around the corner. Hanukkah, too. And for those who celebrate it, even Kwanzaa. Not to mention other times when we give and receive gifts such as birthdays.

Gift-giving costs, especially given that many have both friends and family members to account for. And what makes gift-giving particularly difficult is that it’s easy to equate what we give with the amount of love we have for a person.

However, for those in your circle, chances are they won’t love you less if you still give a gift of meaning that fits your budget. You can avoid suffering at the hands of a credit card by striking a healthy financial balance where everyone wins.

Give yourself the gift of financial planning this holiday season, and it could be the gift that keeps on giving, inspiring others to do the same with themselves.

Give gifts that are within your budget. You can still look your best to others, but without the silent financial stress. #financialplanning101


Everyone deserves to take a moment to rest and rejuvenate. But going into debt to do so would be anything but rest and rejuvenation.

What you make from work should also go toward saving, in addition to rest and relaxation. Because of the unexpected things that can happen, you want to be prepared just in case. People lose jobs, or have health scares all the time. So we at Qoins suggest tempering exorbitant plans with reality and preparation for the unexpected.


There is no price tag when it comes to love. Or is there? We should, in addition to the love we have for another person, also plan for a strong financial future on which the union can rest. Would you say so? We do.

And a study conducted by Emory University shows that a correlation exists between the amount spent on a wedding and marriage duration. So a high-cost wedding does not necessarily correlate to a long-lasting marriage.

Even when making plans for a wedding, make sure you’re on solid footing financially. Set a strong financial foundation for your marriage’s future.

Though each couple has its own plans, it’s always a good idea to begin on a solid foundation. Why not begin on a solid financial foundation by planning a wedding within your financial means, or by going over within reason? Just our two cents.

Gadgets and Gizmos

With some iPhones well over $1,000, someone can easily go into debt to have the newest and coolest tech item. Regardless of their utility, they are still items that could possibly have less expensive alternatives. And because of the cool factor involved, it’s more difficult to opt out of them. Our suggestion? See if an alternative or older version exists that works just as well if the newest version would require a financial sacrifice on your part.

So there you have it. Beware of the Grinch during Christmas. But even more, be careful that you don’t steal your own financial happiness in the process by going into debt unnecessarily even outside of the holiday season.

If you do have debt, however, and would like to start to tackle it, we can help you now, and well into 2019. Download the Qoins app on either iOS or Android, and we can work with you to make an extra payment at the end of each month to pay down your debt. We’ve paid off more than $3.5 million already.

Happy Holidays.