Financial Experts Offer Guidance for Recovering from ‘Maycember’ Overspending

The term “Maycember” — a blend of May and December — has gained popularity on social media to describe the financial and emotional strain many families experience during May.

Packed with graduation celebrations, prom expenses, end-of-year school events, and summer camp payments, the month mirrors the financial intensity of the holiday season.

Person taking money out of his wallet | Source: Pexels

“May often feels like a second December because so many expenses pile up at once,” said Isabel Barrow, executive director of financial planning at Edelman Financial Engines. “Graduations, school events, weddings and summer travel plans all converge, creating a storm of financial stress.”

Inflation has further heightened the pressure, raising costs across these seasonal commitments. However, Barrow advises against panic. “It’s important to remember that a long-term plan requires long-term perspective, and one month of overspending doesn’t have to derail your financial goals.”

To recover financially, experts recommend reassessing your budget. “The first step towards recovery is to take the time to review your spending and reassess your financial plan,” said Barrow. For those with credit card debt, she suggests selecting a repayment strategy such as the avalanche or snowball method.

Couple counting money and calculating | Source: Pexels

Barrow also recommends automating savings through recurring transfers or paycheck splitting to help rebuild financial stability. Certified financial planner Lazetta Rainey Braxton encourages scaling back costs by seeking free activities and considering seasonal side gigs like babysitting or tutoring.

“Know that Maycember is a stretch month that doesn’t represent the pace of your entire life,” Braxton said. She suggests creating a dedicated “Maycember fund” by setting aside $25 or more each month to ease next year’s expenses.