Why the Christmas Season Is a Great Time to Review Your Finances and Set New Goals

Published On: December 11th, 2025

Author

danielw

The Christmas season often brings a welcome pause from the busyness of everyday life. Many people take time off work, slow their routines, and spend more moments at home with family. This break provides something rare that can be incredibly valuable for your long term financial health. You gain time to reflect, reset, and take stock of where you stand financially as the year comes to a close.

For individuals, families, and business owners, Christmas is one of the best seasons to review finances, update goals, and prepare for a successful new year. Here is why.

You Finally Have Extra Time During the Holidays

The biggest barrier to financial planning is often time. During the year, work obligations, family commitments, and daily routines make it easy to delay important financial decisions.

The Christmas season allows you to:

Look at your budget without rushing
Review investments and savings progress
Reevaluate financial goals for the coming year
Update insurance plans or beneficiary details
Organize documents you have been putting off

A quiet holiday morning or afternoon creates the perfect environment for clear thinking and long term planning.

A Natural Transition Point Before the New Year

The end of the year is a natural milestone. It gives you a clean point of comparison and a fresh starting line for new financial goals. Reviewing your financial situation at Christmas makes it easier to set realistic plans for the coming year.

This is a great time to:

Review contributions to RRSPs and TFSAs
Reassess your emergency fund
Evaluate debt repayment progress
Plan for major life changes coming in the new year
Adjust investment strategies based on your risk tolerance and goals

When January arrives, you start the year focused and organized.

A Chance to Revisit Life Insurance and Protection Needs

Christmas brings family together, which also makes it a meaningful time to reflect on long term protection. Many people wait too long to update their life insurance or disability coverage, even when life circumstances have changed.

During the holidays, consider reviewing:

Current life insurance policies
Mortgage protection needs
Income replacement options
Coverage for new family members
Whether existing coverage still fits your lifestyle

This ensures the people you care about are protected as you move into a new year.

Business Owners Can Reevaluate Employee Benefits and Budgets

For employers, Christmas provides downtime to review benefit plans, payroll budgets, and coverage gaps. It is an ideal moment to decide whether your current employee benefits package still supports your team effectively.

This may include:

Assessing group insurance performance
Reviewing renewal dates and premiums
Identifying new benefit options to add in the new year
Planning for employee growth or restructuring

Thoughtful adjustments during the holidays can strengthen retention and workplace satisfaction in the year ahead.

A Great Time to Meet With a Financial Advisor

The holiday season is not only a good time to review things on your own. It is also one of the best times to sit down with a financial advisor. With more free time and fewer work commitments, you can have meaningful conversations about your goals and receive guidance that sets the tone for the year ahead.

A financial advisor can help you:

Build or update your financial plan
Confirm your investment strategy
Review insurance needs
Align your finances with your long term vision
Prepare for upcoming tax deadlines and contribution dates

This type of review can create clarity, reduce stress, and set you up for a strong financial start in January.

Make Christmas a Season of Connection and Clarity

The holidays are about more than gifts and gatherings. They offer space to reflect on what matters most. By taking time at Christmas to review your finances, update your goals, and prepare for the new year, you set yourself and your family on a stronger, more intentional path.

If you would like support with financial planning, insurance, or employee benefits as you head into a new year, Kranzler Financial is here to help.

Get financial advice