Originally written in 2011, this article captured early skepticism toward Blue Monday, a PR-driven concept that refuses to go away. Since then, the idea has been widely debunked, but January financial stress has only intensified due to higher debt levels, rising costs, and longer winters that feel emotionally and financially endless.
Christmas Financial Hangovers
It must be that the News Services really have nothing much to talk about in January. There seems to be a plethora of fluff out there. The new thing for January is Blue Monday.
To any Montrealer, Blue Monday means a particular game where the Expos lost the 5th (and final) game of the 1981 National League Championship Series, to a home run by Rick Monday (who played for the Dodgers). To others, it is a great Fats Domino tune or even a song by New Order. None of these is what the media is talking about.
Blue Monday Equation
As with all good Media Fluff (misinformation?), this Blue Monday started as a public relations campaign by Sky Travel. Sky Travel published a study done by Cliff Arnall where the following equation gives you the most depressing day of the year:
Let us not worry ourselves with this complex piece of pseudo-mathematics. Click on the equation to see the full explanation. The Most Depressing Day of the Year is on the Monday of the last full week in January. This year, that day is allegedly today. I would have assumed that if you booked a holiday through Sky Travel, you might beat blue Monday as well, but I guess that is me being a cynic.
I like this equation because it builds in an important Financial Portion, which is the lower case d in the equation, namely DEBT, and we all know how Christmas Debt Hangovers can ruin our January, if not our entire year.
Usually, you have received most of your Credit Card bills by this date. You now realize you may have overspent, and that the extra money you thought you had is now needed to pay off your debt. Worse, you will have to put together a debt-repayment schedule to address this new debt load.
Do you have a large Christmas Debt Hangover?
So beware of Blue Monday, don't let it catch you unawares. If anybody sees Rick Monday (the baseball player), tell him I still hold a grudge against him!
Blue Monday Redux
Blue Monday works as a concept because it piggybacks on existing trends. January is cold, dark, and socially miserable in much of the Northern Hemisphere. Add credit card bills, post-holiday spending regret, and short days, and you don’t need an equation to feel lousy.
The media version of Blue Monday wants you to book a vacation. The real financial version wants you to open your statements, wince, and start fixing the damage. That’s far less glamorous and far more useful.
The good news? January pain is temporary. The damage from ignoring it isn’t.
Blue Monday Quotes
Blue Monday math is about as rigorous as horoscope investing
I like that one.
Expos fans will never forget Rick Monday or Blue Monday
Very true.
