The 'Stitch By Stitch' singer was mentored by Adam Levine on the first-ever season of the show, scooping the recording contract prize over runner-up Dia Frampton during the live finale in June.
Colon, who will perform on tonight's (November 30) festive Christmas In Rockefeller Centre special on NBC, told reporters on a recent conference call that this Christmas will be completely different for himself, his wife and their two daughters.
"It's amazing what can change in a short five or six months from how we were feeling last year at this time," he said. "Things were just tight, we were getting by but barely. We weren't going crazy on any Christmas gifts or anything like that.
"Our kids have always had everything they needed but you always want to be able to give your kids the world and that was something we weren't able to do in our financial state before The Voice."
He added: "It's amazing what a little time, luck and a TV show can do to turn things around! And not just to turn my career around, but to turn around the outlook of my family, turn around the path we were on. I'm so grateful to The Voice for really just changing not only my life, but all of our lives in my family."
Colon was joined on the call by Savannah Guthrie, who will co-host the one-hour Christmas In Rockfeller Centre special with Al Roker, and both expressed their excitement at being involved in the festive programme.
"I'm so excited to be part of the event," said Guthrie. "I'm a huge fan of the holidays and one of the memories I've always treasured is going to pick out the Christmas tree with my family, so to be part of the lighting of this extremely enormous Christmas tree is just amazing!"
Colon added that he is "honoured" to be sharing the stage with the star-studded lineup, which includes Justin Bieber, Michael Buble, Cee Lo Green, Tony Bennett, Carole King and Katharine McPhee, who will appear in the upcoming NBC show Smash.
"I'm a huge holiday person and this is a show I've been watching for years and years with some of my favourite performers performing and never thinking I'd have a chance to perform on a stage such as this one," he said.
"I'm absolutely honoured and when I look at the company I'll be keeping with the other performances, I'm floored by the opportunity and really excited."
As for who they are excited to see performing, Guthrie said: "Well, obviously I'm a huge Javier Colon fan! I would also say Justin Bieber, unless that is embarrassing for someone of my age! I'm excited about Katharine McPhee too. I think she has such a beautiful voice and I remember her from American Idol."
Colon added: "I'm actually a huge fan of Michael Buble and Tony Bennett. Cee Lo always does something extraordinary so I'm curious to see what he's gonna do for the special, and Justin.
"It's going to be a great show, I'm just really excited to share the stage with these guys."
Christmas In Rockefeller airs tonight (November 30) at 8/7c on NBC
Watch Javier Colon performing 'Man In The Mirror' during The Voice rehearsals below: