How to plan a trip to a Christmas market

How to plan a trip to a Christmas market

by | Oct 17, 2022 | Pursuits, Travel

The year has flown by.  It’s hard to believe, but the holidays are just around the corner.  If you’re looking for a unique experience or just a great way to get in the Christmas spirit, consider planning a trip to a Christmas market.  Here’s how to do it.  

What are Christmas markets?  Christmas markets originated in Europe during the Middle Ages as a way to usher in Advent and the Christmas season.  The tradition has since made its way to many US cities.  They are generally held in a city’s town square and feature festive decorations and a number of open-air stalls that offer food, drinks and unique seasonal gifts or souvenirs.  In addition, many markets have things like music, dancing and ice skating to help you get into the Christmas spirit.

Why is now a good time?  Yes, it has been a rough year in the financial markets and budgets are tighter, but there are several reasons why now might be a good time to plan a visit to a Christmas market.  First, if your city (or a nearby city) is putting on a market, a visit can be an inexpensive experience.  Admission is usually free, so you can enjoy the sights and sounds and browse all you want without ever reaching for your wallet.  Unless, of course, you find the perfect gift or treat.  And if visiting one of the European markets is an option, the dollar is the strongest it has been in decades against the euro and the pound, so your money will go a lot further than in years past. Also helping: airfares have dropped significantly from their summer peak and winter is generally the slow season in Europe so prices are lower than during the peak season.  Bottom line, travel timing is never perfect, but before dismissing a trip out of hand, think about what options might work.

How do I plan the trip?  I think a Christmas market trip can be one of the easiest trips to plan because they’re usually held in the town square of a major city.  That means lots of flight and hotel options and you can skip the rental car and just use public transportation.  Once you decide which market you want to visit (see some options below), all you need to do is book a flight and a room.  And it’s even easier if you’re going to a local market or one within driving distance.  Just pick a day and show up.  For more info on trip planning, see my article A Practical Guide to Planning and Packing for Trips.

What are some of the main markets in the US?  Below (in no particular order) are a few of the main markets in the US with links to their official websites.  For more cities with markets just Google “US Christmas Markets.”  And don’t forget to check for markets in your hometown.  No flight or hotel required.

What are the main markets in Europe?  Below (in no particular order) are a few of the main markets in Europe.  For more cities with markets just Google “European Christmas Markets.” 

Note: Many of the European Christmas Markets don’t have their own websites so here is a link to a Times of London article that contains info on the markets listed below as well as many more. 

  • Vienna, Austria: November 19 – December 26
  • Budapest, Hungary: November 18 – January 1
  • Cologne, Germany: November 21 – December 23
  • Brussels, Belgium: November 25 – January 1
  • Bruges, Belgium: November 25 – January 8
  • Strasbourg, France: November 25 – December 26
  • Gothenburg, Sweden: November 19 – December 30
  • Copenhagen, Denmark: November 18 – January 1
  • Basel, Switzerland: November 24 – December 23
  • Edinburgh, Scotland: November 19 – January 3
  • Seville, Spain: December 5 – January 5

Just imagine.  With a little planning, six weeks from now you could be sipping hot cider as you stroll through the market in Denver or buying a pair of hand knit socks from a local vendor in Belgium.  Where would you go if you had the chance?  Who would you take?  Why not give it a try?  Do some research, make a plan and go.  After all, life is short, so…

Be Intentional,

Joe 

Why inflation is so dangerous

Why inflation is so dangerous

by | Oct 2, 2022 | Investing

If you’re at all familiar with investing, you’ve probably heard of the rule of 72.  Basically, if you divide 72 by the rate of return you get on your investments, the result will tell you roughly how long it will take to double your money.  For example, if you’re getting a 6% rate of return, your investments will double in approximately 12 years (72 / 6 = 12).  If you get a 10% rate of return, your investments will double in about 7 years.

Just like investment returns can grow your money, inflation can shrink the purchasing power of your money. So in a high inflationary environment like we’re in now, it’s good to pay attention to how quickly inflation can erode the value of your money.  To see the effect, you can use a modified Rule of 72.  Think of it as the Reverse Rule of 72.  Instead of dividing 72 by your rate of return, divide it by the rate of inflation.  If inflation is 2%, like it was until recently, the purchasing power of your money will be cut in half after 36 years.  But if inflation is 8%, like it is now, then the purchasing power of your money will be cut in half in 9 years.  That means in 9 years, you’ll need twice as much income to buy the same goods and services that your current income is buying today.  When you look at it that way, you understand how important it is to get inflation under control and why the Fed is willing to raise rates and risk a recession to do so.  

That tug of war between the Fed and inflation has been roiling markets all year.  When markets are volatile, it’s natural to look for ways to reduce risk.  Nothing wrong with that.  Managing your risk and allocation is important.  Just don’t forget about the risk of inflation.  It’s less obvious in the short term, but it can often do more damage in the long-term.  Moving your portfolio to cash can feel safe, but safe can be risky if you trade long-term purchasing power for short-term stability.  By investing in a well-balanced portfolio that is designed to keep pace with inflation, you can help improve the odds that your money not only lasts for your lifetime, but also provides you with the income necessary for security and independence during retirement.  But it also means you’ll likely need to ride out volatile markets every now and then.

Be Intentional,

Joe