The financial pressures of the holiday season can leave a lasting impact, and a recent article from GoBankingRates explores why. The article, published on January 15, 2025, highlights findings from a Beyond Finance survey of 2,000 Americans celebrating the winter holidays, revealing that 76% experience emotional distress—‘money wounds’—triggered by financial pressures.

The 4 Most Common ‘Money Wounds’

The GoBankingRates article breaks down Beyond Finance’s research, identifying four emotional spending triggers that often contribute to holiday debt:

  • Poor Self-Esteem (26%) – Feel the need to overspend to impress others or compensate for insecurities.
  • Habitual Overspending (21%) – Struggle to set financial boundaries during seasonal spending.
  • Shame Over Past Financial Decisions (21%) – Carry guilt from previous financial missteps, leading to avoidance or excessive spending.
  • Lack Mentality Toward Money (20%) – Feel like there’s never enough, which can drive impulsive financial decisions.

The GoBankingRates article also includes expert insights on how people can recover from holiday debt and regain financial control. By addressing money wounds, people can heal and pave their way towards a more secure financial future.

To read the full GoBankingRates article, visit https://www.gobankingrates.com/net-worth/debt/frequent-money-wounds-might-have-caused-holiday-debt-how-to-financially-recover/

About Beyond Finance, LLC

Beyond Finance, LLC, is one of the nation’s largest debt consolidation companies. In its commitment to providing clients with a personalized approach to move beyond debt, Beyond Finance provides simple and transparent solutions that help consumers lower their monthly payments, reduce the impact of interest, and reach a debt-free life sooner. Beyond Finance holds an A+ rating with the Better Business Bureau and was awarded with 3 ConsumerAffairs’ inaugural “Buyer’s Choice Awards” in 2024 for Best Customer Service, Experience with Staff, and Transparency within its category. Beyond Finance has offices in Chicago, Atlanta, San Diego, and Houston. For more information, visit BeyondFinance.com.

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