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As Andy Williams and Harry Connick, Jr. have proclaimed – it is the most wonderful time of the year.  The weather gets colder as our feelings toward friends and family grow warmer.  Before we plot our new year resolutions, we open our pocketbooks for our children, co-workers, and extended family.  It can certainly be stressful, but pour yourself a cup of eggnog and read up on a few yule-tide survival tips.

1. Credit cards – Even if you know this advice by heart, during this time of year it is always worth remembering…there are very few items being bought during Christmas worth carrying a balance on a credit card. Use credit cards only within your comfort zone and never carry a balance under normal circumstances. The terms are rarely fair to the consumer.
2. Extended Warranties – Understand that you are buying a non-regulated form of insurance when you purchase an extended warranty. If there is a time to mimic the scrupulous Ebenezer Scrooge, it would be when entertaining these contracts. You are essentially pre-paying for service that you may or may not ever need. Consider the specifics of what work would be covered, shipping costs, replacement costs, and things that could void the warranty. When compared to the cost of the covered item, you will find that they are often overpriced.

• Harvest losses – So 2022 wasn’t a great year for most investments. That does not mean you can’t make the best of it! If you have a position in a taxable account that can be sold at a loss (less than your net investment) then you may be able to offset gains or income by selling at a loss. Consult with your financial advisor or tax professional when doing so.

And a personal bit of advice – stop and smell the poinsettias. We get a finite number of years and that means a finite number of Christmases.  Use this time to show everyone near you how much you appreciate them. Make lists, check them twice, and get things done so you can be present for the most important people in your life when you get together. And when you are together, tell whoever made the gumbo that they did a good job.

Merry Christmas and a Happy New Year from us all at Schexnayder Wealth Advisors!

330 Belle Terre Blvd, Ste. 201

LaPlace, LA 70068

985-652-2877

Registered Representative offering securities through Cetera Financial Specialists LLC, member FINRA/SIPC. Advisory Services offered through Cetera Investment Advisers LLC. Cetera entities are under separate ownership from any other named entity.