Thriving, Not Just Surviving: How Black Women Are Reclaiming Joy Amid Financial Shifts

The holiday season often promises warmth and celebration. Yet this year, many Black women feel burdened by uncertainty and stress.

Just weeks before the holidays, major tech companies like Amazon, Meta, and Synopsys announced thousands of layoffs, upending plans and financial security. Earlier this year, over 300,000 Black women were pushed out of  the labor force, a staggering shift with far-reaching impact. Coupled with the longest government shutdown in U.S. history, furloughed workers went weeks without pay.

“My recent layoff has affected every facet of my life,” says Danah Montgomery, a 30-something nonprofit leader out of work since June. “My health concerns have worsened, likely due to stress, but I am unable to address them without health insurance.”

Sentiments were similar among furloughed federal employees. “The furlough created uncertainty that affected both my finances and emotional well-being,” says Elike Jones, a 40-something federal researcher. “I’ve had to become more mindful of spending, focus on essentials, postpone bigger purchases, and find simpler, lower-cost ways to enjoy the season.”

The financial realities created by these shifts have forced everyone, especially Black women, to rethink holiday spending, family gatherings, and gift-giving traditions.

“When you fly, they always tell you to put on your own oxygen mask before helping others,” says Alanna Anthony, CPA and founder of Financialdemics. “The same applies to your finances. No one is requiring you to stretch yourself this holiday season; your goal is to make sure you and your family can get through it.”

For many Black women, this starts with a clear look at their numbers. Do you have money left over for holiday dinners or gifts after meeting your basic needs?

If the answer is no: Seek assistance. Charities such as The Salvation Army and Catholic Charities provide holiday food and gifts. Dialing 211 can also connect you to local programs offering support.

If the answer is yes, set a cash budget for food and gifts. Anthony suggests breaking down gift spending per person and starting purchases early to avoid overspending.

Montgomery, who was in the middle of purchasing a home at the time of her layoff, had to course-correct quickly. With home buying on pause, she’s finding ways to appreciate the space she already has and inviting loved ones into her home instead of going out. She’s focusing on creating meals with items she’s already bought and on low-cost or no-cost gifts.

Similarly, Anthony suggests Black women consider smaller holiday meals or ask relatives to contribute via potluck. “Start looking for deals on ingredients now, and really evaluate the dishes your family actually eats,” she says. “It reduces waste and keeps costs manageable.”

When it comes to gifts, a major holiday budget buster, Anthony emphasizes creativity over cost. Personalized or handmade items—like baked goods or small crafts—can feel more meaningful than expensive purchases.

 If regifting is a strategy you’ve considered, proceed with intention: “If you are going to regift, make sure the item still looks new and unused. It should also be in its original packaging so the giftee doesn’t realize it’s a regift,” advises Anthony. “Also, make sure there’s enough separation between the person who originally gave you the gift and the person you are regifting it to, so you avoid hurt feelings.”

And don’t forget: Families have the liberty to create rules around holiday spending that work for them. “Depending on your family dynamic, you can discuss whether you give gifts to the kids, everyone just purchases gifts for their immediate family, or you don’t give gifts at all,” Anthony explains. “You can also consider a gift exchange where everyone picks a name and sets a dollar limit, so you still exchange gifts without straining your pockets.”

Anthony emphasizes that focusing on holiday activities—like cooking together, game nights, or volunteering—can be just as meaningful as exchanging presents.

Given the tenuous financial climate, this holiday season may ironically be the ideal time to broach conversations about budgeting, estate planning, and career searches within a larger family setting. Since many may already be feeling the pinch, these conversations can lower guards and reduce stigma or shame around money and unemployment.

“You can even form financial accountability groups where family members check in on goals, set monthly or quarterly challenges, and support each other’s progress,” says Anthony.

And while you’re at it, reevaluating and reassessing your relationship with consumerism won’t hurt. “The consumerism of the holidays has persistently disturbed me, so I find solace in decreasing my spending and finding creative ways to celebrate—like deleting Amazon, attending free local events, and writing letters to loved ones,” says Montgomery. “In many ways, this layoff is forcing me to live more in alignment with my values.”

Shania Jackson, a marketing executive in her 30s, affirms this: “I’ve become more appreciative of what I already have and work with what I’ve got. It can be tempting to buy a new outfit or splurge on a fancy dinner because you’re used to splurging.” She continues, “Being laid off means spending a lot of time reflecting and charting your next >The Frugal Feminista and author of heal your relationship with money and Unmasking the Strong Black Woman. 

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