If you love the holiday season as we do, you probably go all out to make sure that everyone around you has a jolly good time. There are the decorations, the food, the events, the travel, and of course, the gifts. Family gifts, friend gifts, client gifts, work gifts, pet gifts, the service people in your life gifts, the dreaded “oh-no you gave me a gift and I need to get you a gift” gift among the seemingly endless list of gifts.

Tips to help keep your bank account healthy:

• Make a list with a budget and put that list in your phone so you have it with you and can refer to it at all times. This could go a long way to cutting down on those impulse purchases;

• Add 10-15% to your initial budget because you are probably going to exceed your budget;

• Use cash or debit online and in-store to shop within your means;

• Cut out your online subscriptions, your daily snack and/or fancy coffee for several weeks. Use the money saved to buy a gift or two.
  • Pro tip: after the holidays, stick with this strategy and save that extra money. It could easily add up to hundreds of dollars in monthly savings;

• If you must use a credit card, use it for smaller purchases and pay it back asap;

• Shop online for special sales and take advantage of free shipping deals.
  • Pro tip: leave your purchase in the shopping cart for a day. When you go back to it, examine each item and decide if you really need all the items in your cart;

• Take advantage of price-matching offered by many retailers especially electronic and furniture sellers to get the best deals

• Black Friday has become a big deal in Canada too. Though you may have missed out this year, there are many retailers still offering similar marked down sales throughout the season.

• Get several extra small gifts for that unexpected gift(s) you may receive; 

• Use the dollar store for wrapping, decorating and other disposable throw-away items;

• Enjoy the spirit of the season by giving back to others – volunteer or donate money and/or your time.

Will you end up in the red?

To learn more about debt consolidation, visit with Dave to learn how to do the debt-free dance!

The new year is a good time to look at your financial goals to get firmly yourself firmly in the black! Ready to start? Call us today at 1.800.288.2764 to speak with one of our debt-consolidation experts!