Podcast

How can you navigate the emotional complexities of the holiday season, set financial boundaries, and plan for a secure financial future after the loss of a spouse? In this insightful episode, Kim Murray, founder of Widow411, shares valuable financial strategies and emotional insights for widows. She discusses how to handle holiday spending, set healthy financial boundaries, and plan for long-term financial goals, all while coping with the challenges of grief.

You’ll hear them discuss:

• The emotional pressure to overspend during the holidays and making clear boundaries around gift-giving and social events are crucial. By being intentional about your spending, you can avoid financial stress and emotional burnout during a challenging time.
• How material gifts or excessive spending cannot heal emotional pain. Kim encourages widows to be mindful of emotional spending during the holidays and to focus on meaningful ways to celebrate without breaking the bank.
• The importance of “paying yourself first.” By automating savings (such as maxing out your 401(k) or contributing to an emergency fund), you ensure that your financial goals are a priority, even before paying other bills. This sets a solid foundation for long-term security.
• Having separate accounts for specific purposes—such as travel or holiday spending – gives you peace of mind. It helps keep track of your funds and ensures that you don’t overextend yourself financially while trying to fund multiple priorities.
• Planning for future expenses like car maintenance and retirement. Breaking down long-term financial goals into manageable chunks, like setting aside money for a Roth IRA or emergency savings, makes them feel more achievable.
• The importance of having an emergency fund to avoid relying on credit cards when unexpected expenses arise. This is an essential step in gaining control over your finances and avoiding unnecessary debt.
• Funding an HSA and how HSAs can be a valuable tool for saving money for medical expenses. HSAs grow tax-free and can also be used in retirement, making them a flexible savings option.

Resources

Kim Murray on the Web | LinkedIn | Instagram | Pinterest | Email

The Ultimate Survival Guide for Widows – helps widows manage and complete the crushing list of to-dos after a spouse dies. It offers step-by-step instructions for essential tasks like managing finances, closing accounts, and navigating Social Security benefits, taxes, and insurance. Practical tools like fillable templates, checklists, and worksheets to simplify complex tasks empower widows to take control and get things done.