With Christmas just over a month away, residents are likely planning their holiday purchases.
WOODSTOCK - With the holidays around the corner, it's easy to over spend -- especially on the kids.
Financial Advisor at the Investment Planning Council Melissa Pike says it's important to know how much you have to spend in order to avoid breaking the bank.
"The best way to do that is to make a list of those items. Number one, who you have to buy for this year and then allocate how much you want to or are able to spend on each person. Total that up and find out if that total number is feasible and if it's not then it's time to adjust that to bring it back into line with your budget and make sure it's feasible and something you can afford." Pike continues "The key is to stick to your plan and stick to your budget and an easy way to do this is to make all of your purchases in cash. It's very easy and very convenient to swipe those debit and credit cards but it's also a very easy and quick way to rack up debt that's going to follow you into the new year."
Pike says watching flyers and purchasing items in the off season are just some ways to make the dollar stretch further. "Going forward, it's also important to start saving early for next Christmas. You can do this either by using cash that you hide away at home in a safe or keep in an envelope somewhere or even setting up a separate bank account to stash away that extra cash throughout the year so come next Christmas, you have the funds available."
Pike says it's also a good idea to have a buffer zone in your holiday budget for any unexpected parties or gifts that come up.
Ingersoll Candidate Profile - Fred Freeman
UPDATE: Fog Advisory Cancelled but Heat Warning Remains
Theatre Woodstock Celebrates 80 Years
Operation Safe Start Hitting Oxford County
Landfill Not Accepting Blue Box Materials
Yellow Warning for Heat Issued in Oxford County
Norwich Candidate Profile - Lacey Hird
Final Whales Transferred from Marineland
SWPH Investigating Dog Scratch in Tavistock
Terry Fox Flag Raising in Woodstock
Stolen Vehicle Found in Oxford County
Woodstock Candidate Profile - Daniel Leduc
Interview with a City Councillor - August 31st, 2026
Upcoming Bridge Closure in Otterville
Weapons Charges Laid in Ingersoll
Unifor Ratifies Contracts with General Motors
Significant Rain for Oxford County
Charges Laid After Traffic Stop
Zorra Township Candidate Profile - Adam Skeggs
Ontario Toy Show Celebrating 41 Years
Comments
Add a comment