EP011 Financial Fitness Tips for the Holidays
Are you prepared for a financially fit holiday season? Since Halloween, we have been bombarded with holiday decorations, advertisements, and sales to prod us into the holiday spending spirit. What does this mean for you, and what actions can we take?
On today’s episode, I share with you some key economic realities for Canadians and provide tips to help you prepare and maintain your financial fitness during this giving season. I’ll also explain what influences people’s spending decisions and why it’s important to create a list and maintain a budget, especially during the holiday season.
“Approximately 50% of Canadians are living paycheck to paycheck and if it was delayed, by even one week, it would be difficult for Canadians to meet their financial obligations.” – Tracey Bissett
This Week on Young Money:
- The reality of financial stability for most Canadians
- The evolution of gift giving
- Where the consumer’s money goes and how it breaks down
- What influences spending decisions, and shopping habits
- The importance of creating a list and a budget
- Looking for unforeseen costs
- What starting new traditions can provide
- Planning ahead and what pacing can do for you
Key Takeaways:
- Set a budget – and stick to it.
- Start a new tradition.
- Plan ahead.
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