Tips on budgeting for the holidays

Get tips on how to budget for the holidays, whether you're hosting the holiday feast or spending Christmas abroad.

The holidays are upon us and with holiday cheer comes holiday bills.

Luckily we’ve got some tips on how to balance the budget during this festive season.

The giving spirit

Rauni Naud, advisor at Sun Life Financial, recommends setting a per person dollar limit when budgeting for gifts.

“Or limit the gifts that you buy for each person,” she says.

Naud also recommends avoiding credit cards.

“Try to stick to your budget,” she says.

Banking on credit cards during the holidays just means facing the bills in January. Setting a budget that works within yourmeans will make for a happier new year.

And you can even get younger household members in on the act.

“You can help your children budget by setting them a dollar amount, and [then] helping your child pick out something forsomebody with that amount and sticking to that budget,” says Naud.

Home for the holidays

When shopping locally this holiday season, watch out for specials so you can spend less on gifts and treats.

“Use your local newspapers, local radio and Penny Wise for specials, and compare prices on chocolates and candies to get thebest deals,” says Naud.

When it comes to laying the Christmas feast, the best strategy is to plan ahead.

“Budget the cost for the extra expense for Christmas over the course of the month. Pick up non-perishable items early toavoid the bigger food expenses prior to Christmas,” says Naud. “Utilize the groceries in your pantry, and try to make thingswith ingredients that you already have.”

Christmas vacation

Sometimes the best Christmas gift is taking a little time away. If you’re traveling for the holidays this year, try looking foraccommodations that have the most to offer.

“When traveling out of town look for places that have hotel specials and if they’ve got breakfast included that really helpssaving money for that one meal,” says Naud. “Some hotels actually offer coupons so you can shop at other places and usetheir discount coupons.”

 

Just Posted

Province announces $23 million for upgrades at Kootenay Boundary Regional Hospital

West Kootenay-Boundary Regional Hospital District Board has yet to review the provincial proposal

UPDATE: Two-car accident closes Highway 3A at Thrums

Road expected to open for single-lane alternating traffic at 2 p.m.

OPINION: Florio Vassilakakis calls city tax increase ‘overly ambitious’

One city councillor’s take on the City of Castlegar’s proposed budget

Castlegar moves towards allowing more in-home childcare spaces

If passed, bylaw will increase the maximum number of children allowed to match provincial standards.

Call a foul on cancer with the Pink Whistle Campaign

Local basketball referees are raising money for cancer research

VIDEO: Canada’s flag turns 54 today

The maple leaf design by George Stanley made its first appearance Feb. 15, 1965

Eight cases of measles confirmed in Vancouver outbreak

Coastal Health official say the cases stem from the French-language Ecole Jules Verne Secondary

Plecas won’t run in next election if B.C. legislature oversight reforms pass

B.C. Speaker and Abbotsford South MLA says he feels ‘great sympathy’ for Jody Wilson-Raybould

Workshop with ‘accent reduction’ training cancelled at UBC

The workshop was cancelled the same day as an email was sent out to international students

Former B.C. premier Gordon Campbell accused of sexual touching

Accuser went to police, interviewed by Britian’s Daily Telegraph

Judge rules Abbotsford home must be sold after son tries to evict mom

Mom to get back down payment and initial expenses

Trump officially declares national emergency to build border wall

President plans to siphon billions from federal military construction and counterdrug efforts

Snow turns to slush, rain as it warms up across B.C.’s south coast

Some areas are already covered by more than half a metre of snow following three separate storms

Father to be charged with first-degree murder in Amber Alert case

11-year-old Riya Rajkumar was found dead in her father’s home in Brampton, Ontario

Most Read