Hi Friends,
December brings a mix of celebration, reflection, and just enough chaos to make staying grounded feel like a full-time job.
In this month’s edition, we’ll explore how holiday emotions can quietly influence spending decisions, walk through a year-end financial checklist, and wrap up with a date-night restaurant that answers the question: what happens when Japanese precision meets Portuguese comfort?
The Holiday Spending “Halo” Effect
December has a way of softening our decision-making (and loosening our purse strings). We’re feeling generous, festive, a little nostalgic; and that emotional warmth often spills into our financial behavior. Psychologists call this the halo effect: when one positive feeling (like holiday spirit) makes everything else look more appealing or “worth it,” even when it stretches our budget1.
During the holidays, the halo effect shows up in subtle ways: choosing slightly bigger gifts than planned, upgrading travel or meals because it's a “special occasion,” or justifying last-minute add-ons because they feel thoughtful. It’s normal and well-intentioned, but it can derail even the most diligent spending plans.
How to Stay Grounded When the Halo Kicks In:
Set a per-person gift budget (not just a total). A single total budget is too easy to mentally reshuffle; overspend on one person, make it up somewhere else, and suddenly the whole plan dissolves. Creating a budget for each recipient helps you be intentional about how, and to whom, you give, while easing the pressure to “match” what others are doing. It also shifts your focus to the relationship itself, which naturally leads to more meaningful, thoughtful choices. And often, the best gifts aren’t the biggest ones, they’re the small, personal touches that make someone feel special.
Be intentional with all your non-gift holiday expenses. The halo effect doesn’t stop at presents. It shows up in festive outings, special groceries, hosting, travel upgrades, outfits, donation requests, and more. These “soft costs” often exceed the gifts themselves. Giving them their own line in your budget helps you make conscious choices instead of reactive ones.
Keep your budget realistic from the start. A too-tight number often backfires. If your budget doesn’t match your actual holiday habits, you’re more likely to blow past it and abandon the plan entirely. Create a budget that reflects what you truly intend to spend, not what you wish you would spend in a perfect world. A realistic budget is one you’ll stick to.
Benson Hotel Gingerbread Display – Step into the historic lobby of The Benson to marvel at this year’s magical, larger-than-life gingerbread masterpiece; complete with live music, a hot chocolate station, kids’ activities, and even a surprise Santa visit that makes this beloved holiday tradition perfect for a rainy December day. (Now - 1/2)
John Mulaney & Fred Armisen @ Moda – Kick off New Year’s Eve with big laughs as John Mulaney brings his sharp storytelling and wit to the Moda Center, joined by Portlandia star, Fred Armisen, for a night of comedy that will have you ringing in the New Year with a smile on your face. (12/31)
PBR Velocity Tour – If you’re craving high-adrenaline fun after the holidays, the PBR Velocity Tour brings world-class bull riders and powerful bucking bulls to the Moda Center for two nights of edge-of-your-seat action and unforgettable energy. (1/2 - 1/3)
Rose City Classic Dog Show – Calling all dog lovers! The Rose City Classic at the Portland Expo Center is a premier, family-friendly canine celebration featuring everything from breed judging and agility courses to obedience and “Meet-the-Breeds” fun, perfect for anyone who loves four-legged talent. (1/15)
Make It Make Cents
This is where I’ll answer your unfiltered, anonymous money questions. No judgement, no jargon, just clear answers to the things you’ve always wondered but maybe never asked.
Wrapping Up the Year: Your Financial Checklist
Review your retirement and HSA contributions. Make sure you're on track to max-out or hit your goal amount for your 401(k), IRA, and HSA contributions before year-end. These accounts can lower your taxable income today and minimize tax on earnings over time. Sticking to your contribution strategy can significantly strengthen your long-term savings.
Review your asset allocation and rebalance your portfolio. Market movements throughout the year may have shifted your mix of stocks, bonds, and cash, this is known as “drift”. Rebalancing includes selling investments that have outgrown their target weight and buying those that have become underweight to bring your portfolio back to its intended asset allocation. This practice helps ensure your portfolio still aligns with your risk tolerance and long-term goals.
Think about tax-loss harvesting. If you have investments trading at a loss, harvesting those losses may help offset realized capital gains. Be mindful of wash-sale rules if you're considering a similar replacement position.2 Losses can also offset up to $3,000 of ordinary income on your tax return, with any remainder carried forward for use in future years.
Review your charitable gifting strategy. Having a charitable gifting strategy can help you support the causes you love while also optimizing your tax situation. To make the greatest tax impact, consider donating appreciated assets rather than cash. When given to a qualified 501(c)(3) charity, you can avoid capital gains taxes on the appreciation while also receiving a potential income tax deduction.
FSA “Use It or Lose It” reminder. Many flexible spending accounts require you to use your remaining balance by year-end or lose it. Check your plan’s deadlines and consider eligible expenses you may have overlooked.3
Review your family gifting strategy. If you plan to utilize the annual gift exclusion, now is a good time to finalize those transfers. Thoughtful timing can help support loved ones while also fitting into your broader estate planning goals. The 2025 annual exclusion amount is $19,000 per recipient.4
Review your insurance coverage. Evaluate whether your life, disability, home, auto, or umbrella policies still reflect your current lifestyle and financial responsibilities. This is also a great time to confirm that your beneficiary designations are up to date.
Review your financial plan and consult a professional. A year-end check-in helps ensure your savings, spending, and investment strategies still align with both your short- and long-term priorities. If any major life changes occurred this year, professional guidance can help you adjust your plan with confidence.
Taylor’s Table
Located inside the Cascada Hotel on the east side, Terra Mae immediately sets the mood with its lush, greenery-filled space that feels like a jungle bungalow overlooking Portland. It’s intimate, transportive, and an ideal date-night spot.
We started with cocktails, sampling the Quincy Jones, Silk Rush, and Rajah, with the Rajah standing out thanks to its beautifully balanced mix of gin, passionfruit, and bitters. The flavors were layered, complex, and not overly sweet. For salads, the Wasabi Salad was the clear favorite. A simple base of fresh pea shoots let the bold wasabi dressing shine, delivering strong flavor that was never overpowering. The Octopus Salad was bright and citrusy with lots of tender octopus, though the frisée felt like an unexpected pairing and the octopus got a bit lost in the zingy dressing.
From the small plates, their insta-famous Mentaiko Udon lived up to the hype. The creamy garlic sauce, mentaiko (pollock roe), and soy-cured egg yolk created deep umami flavor, paired with perfectly chewy udon noodles. It’s rich and indulgent, so I’d recommend sharing with the table. The Bluefin Otoro (tuna belly) from the raw bar arrived beautifully presented atop an ice block and served with a serrano black sugar tamari that was so good we kept it for other dishes. The tuna was high quality and generously portioned, though the cut could have been slightly cleaner for smoother bite.
For large plates, we shared the Alcatra (beef cheek) and the Scallops Mozambique, a new menu item. The Alcatra was braised until fall-apart tender in a tomato sauce spiced with cloves. It’s the perfect winter dish and one of my favorite cuts of beef done right. The scallops were seared perfectly with rare, buttery centers, and the lobster beurre monté grits actually delivered on lobster flavor, with a touch of spice to balance the richness.
Terra Mae delivers both atmosphere and substance, pairing thoughtful execution with a space that feels truly special. It’s already earned a reputation as one of the best new spots of 2025, so reservations are highly recommended.
Wasabi Salad
Octopus Salad
Bluefin Otoro
Mentaiko Udon
Scallops Mozambique
Alcatra
A Final Note
Thanks for reading and supporting this new adventure—I’m so glad you’re here.
Until next time,
Cheers to making money less stressful and life more fun.
Financial Advisor
Investment advisory services offered through Concurrent Investment Advisors, LLC (SEC Registered Investment Advisor). Securities offered through Purshe Kaplan Sterling Investments (PKS), Member FINRA/SIPC. PKS and Concurrent/Columbia Associates are not affiliated. This material is for informational purposes only and is intended for the recipient(s). It is not investment advice or a recommendation to buy or sell any security. For full disclosures, please visit www.columbiaassociates.com
1 www.thedecisionlab.com, The Halo Effect, explained.
2 www.fidelity.com, Wash sale: Avoid this tax pitfall.
3 www.fidelity.com, “HSA- and FSA-eligible expenses.
4 www.irs.gov, Instructions for Form 709 (2025).