Finances can be a touchy subject for many families, especially during the Christmas season. With the constant pressure to buy, buy, buy, many become strapped for cash quickly, particularly when holiday spending gets out of control. Below are some simple tips to help you save cash and make smart purchases come Christmas time.

Budget, budget, budget – Most of us cringe at the word, but in order to be smart holiday shoppers, we must be accountable for our spending. Set a realistic budget for Christmas—think about all the things you need to purchase, including food, decorations, gift wrap and presents. Track your spending in order to know if you are staying within your budget.

Invest in someone else’s future – Choose to be a constructive spender. Consider investing a small portion of your funds to help someone in a developing country. World Vision offers micro-loans to hardworking entrepreneurial people, giving them the chance to rise out of poverty, become self-sufficient and take better care of their families. With this money, they can start or improve small businesses such as sewing shops or family farms (see WorldVision.ca/gifts).

Open a holiday savings account – It’s hard to make rational decisions when the pressure is on. The holidays are a difficult time to be thinking about balancing a bank account. Planning ahead can be the answer. Many Canadians begin their Christmas budgeting early by setting aside money every month in a special Christmas savings account. This way, they avoid the stress of worrying about finances during the busiest shopping season of the year.

Don’t impulse shop –Make a list of the things you’re going to need during Christmas, and start early. Shop with a purpose and avoid the temptation to buy on impulse. If you don’t need the item, don’t buy it. This can also help you take advantage of sales, using coupons or getting discounts. Remember, by being prepared you can help reduce your shopping stress come December.

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Karen Flores, World Vision Canada
905-565-6200 ext 3497
416-277-5563 (cell)
karen_flores@worldvision.ca