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Saving Money This Holiday Season

Tuesday, 11 December 2018 05:56

Stock photo - Pexels.com

If you're looking to save over the holiday season CPA Canada has some helpful tips that you can follow.

OXFORD COUNTY - Holiday shopping is underway for some and its important to stay on a budget while you're looking around for gifts.

According to a national survey conducted by CPA Canada, the average Canadian will spend $643 on gifts for their family members over the Christmas season. 

CPA Garth Sherriff says choosing days like Boxing Day and Cyber Monday are good ways to save money.

"The survey showed that 64% of Canadians will actually be looking at Black Friday,Cyber Monday (and) Boxing Day as time to spend their money, and that's a good idea if you're looking to save money, to actually choose those days."

The survey also found a large majority of people will spend less then $1,000 on gifts, 13 percent will spend more then $1,000 on presents and 5% will spend nothing on gifts

Sherriff adds budgeting and not overspending are other ways to buy gifts to save.

"Planning would be a big part of this. It might be using, again, Cyber Monday, Black Friday, but the other part to this is also looking at alternative ways to provide gifts and show gratitude for the holiday season."

The survey also saw 64% saying they do not save money over the holidays. 69% said that they would likely exceed the budget on their kids or their significant other. A bulk of Canadians don't believe that they'll over spend in entertaining and gifts. 
 

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