MEDIA RELEASE

FOR IMMEDIATE RELEASE:
November 27, 2007

Christmas. ‘Tis the season to spend wisely.

By Laurie Campbell
Executive Director, Credit Canada

Christmas and money. They needn’t be a source of worry and stress this year. In fact, with a little foresight and imagination, you really can make this the season to be jolly, even if, like many Canadians, your finances are such that you’re living payday to payday.

Start by taking a little advice from Stompin’ Tom Connors. As the celebrated Canadian folk singer says in one of his songs, “You gotta tune your attitude in.”

For all the emphasis that’s put on buying things for others at this time of year, just remember that the true spirit of Christmas is sharing the warmth and company of family and friends.

That said, be realistic about what you can spend over the holidays -- and take steps accordingly – so you aren’t faced with massive credit card bills that take months to clear in the New Year.

Right now, you can work out a budget of expected Christmas costs. Consider the following: 

•  Calculate how much money you can set aside for Christmas based on what’s immediately available and/or how much you can painlessly draw from credit or savings, if at all.

•  In addition to the cost of gifts, calculate hidden costs such as food and beverage bills, long-distance phone calls and the price of decorations.

• Stick to your overall budget.

Gifts are always the big concern. And here you can keep your spending down by reminding yourself that – as the old saying goes – it’s the thought that counts.

Too many of us believe the price associated with a gift makes the gift more meaningful. Not so.  First, think about inexpensive gifts that can have real meaning to the people who will receive them. Here are some tips:
 
• Some of the best gifts are simple things, like homemade gift baskets, baked goods, old photographs or colorful drawings by the kids that you can easily mount on hardboard (check the Internet for home-made gift and arts and crafts ideas).

• Spend extra time with the kids. Create events around the holidays that are a meaningful act of giving in themselves. Treat children to a day of skating or a day at the movies, followed by hot chocolate and games. Bake stuff together. Decorate the house together. Time, love and laughter are the greatest gifts of all.

• If money is extra tight, think about services you can offer to others. How about a gift certificate of your time to help with, say, cleaning, yard work, car maintenance (if hubby has the skills), shoveling snow, etc? The gift certificate is limited only by your imagination and sense of fun.

For both home-made and store-bought gifts, create a list of materials and items. I repeat, calculate the cost to make sure it fits your overall budget. And keep some important points in mind when you get down to shopping:

• Make sure you make time for price comparisons, so you get the best deals.

• Do your shopping well before Christmas, to avoid bad decisions made in a rush.

• Avoid shopping when you’re hungry or tired. Consider leaving the kids at home so you can stay focused.

• Think about buying gifts over the Internet (i.e. songs for 99 cents a piece). Some companies will even gift wrap and post your presents for a small additional fee. You can also purchase low-cost and interesting Internet services for others (i.e. subscriptions to cool sites).

Above all, don’t leave yourself off this year’s gift list. Give yourself a wonderful holiday season.

Meanwhile, for those who need help developing a personal budget or who wish to receive financial counselling assistance, Credit Canada is standing by.

Credit Canada is a non-profit, charitable organization that provides credit counselling and education programs to financially troubled individuals. The agency has been serving the community for more than 40 years and is an accredited member of the Ontario Association of Credit Counselling Services and a member of Credit Counselling Canada.

To schedule an appointment or to speak to a counsellor immediately please contact Credit Canada at 416-228-3328 or 1-800-267-2272.  Also, visit www.creditcanada.com for free online assessments.

Contact:

Laurie Campbell
Executive Director
Credit Canada
416 228 2526
lcampbell@creditcanada.com