Prince George, BC – Shopping Days Till Christmas: 22…

Yes, it is THAT time.  And with the countdown on, there are some steps you can take to keep the red in your holiday trimmings, and out of your budget book.

First and foremost, says the President and CEO of the Credit Counselling Society is to set an overall holiday spending plan that encompasses not just what you plan to spend on gifts, but also entertainment, new outfits, babysitting, transportation, and all those ‘extras’.

Scott Hannah says, "Oftentimes, it’s those other things that people don’t count in their budget that really have a dramatic impact."  He says it’s crucial to determine at the outset how much you can afford to spend, then decide how much of that will go towards gifts and who you’re going to put on your ‘nice’ list.

Other tips to keep you on top of the receipts this holiday season:

• do some research before wandering aimlessly in the malls – compare prices online, find discounts and coupons and have a real plan of attack before hitting the stores
• keep a running tally of how much you spend as you go – if you over-spend on one gift, decide what other section of your budget will compensate for that amount
• don’t do one big shop – Hannah says this causes stress and fatigue for many and suggests breaking it down into two or three smaller shopping sessions
• it’s like preparing for a marathon – stay hydrated with a water bottle and eat well before heading out, so you don’t spend $10 or $20 unnecessarily on snacks

"It’s all those types of little cracks that break up our budget and really have an impact," Hannah adds.

For those who haven’t been able to set aside funds throughout the year and are considering using credit over the holidays, Hannah says setting a limit is crucial.  "As a guideline, we recommend: ‘Don’t spend more in credit than you can comfortably re-pay within the first two or three months of the new year.’" The Credit Counselling Society President says no one wants to spend all of next year re-paying last year’s Christmas gifts and then have the cycle repeat again. 

The key to untangling holiday spending appears to be simpler than unwinding the Christmas lights: budget, budget, budget.