Expert advice for celebrating without breaking the bank

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Advice from&rsquo ;experts in celebrating without breaking the bank

Holidays bring their share of celebrations, but, for many, they are also synonymous with financial stress.

The holiday season is approaching and like every year, the budget may overflow. With inflation, how do you limit the damage of year-end spending? Personal finance experts give their advice.

The countdown is on and to avoid excess, one watchword: get organized, according to Laurie Campbell, expert in personal finance at Bromwich+Smith.

It's never too early to start. Plan locations, avoid peak hours, don't rely on the store with no queues, since prices are often more expensive there, take the day off and leave the kids at home. And once you've finished shopping, put your wallet aside.

Indeed, according to the expert, it is necessary to do this in advance, but also to know stop in time.

Lana Gilbertson, financial advisor at MNP, values ​​agrees. It is crucial to take the necessary time, especially to compare prices and not be fooled at the slightest opportunity, she explains.

It's during the shopping online that temptation can be the hardest to resist. One click and it's added to the basket. Except that, during the holidays, shipping costs are sometimes increased and the delivery ends up costing even more than the product itself, says Laurie Campbell.

The problem can become even more difficult to manage if shopping is done in the evening, when you are tired.

“The further the day goes , the more our decision-making capacity decreases and the next day we regret our compulsive purchases of the day before.

— Laurie Campbell, Director and Personal Finance Expert at Bromwich+Smith

Limiting online purchases also helps the local economy.< /p>

Planning a budget is essential and knowing how to stick to it is even more important, also underlines Lana Gilbertson.

Keeping track of all expenses helps prevent overspending. Whatever payment method you use, make a list of all accrued charges so you don't have any nasty surprises and get a better idea of ​​your budget, says Laurie Campbell, Advisor at Bromwich+Smith.

< p class="e-p">This solution allows you to better understand the sums spent, prevent unpleasant surprises and improve account management from year to year. Thus, at the next Holidays, it will be easier to plan the necessary savings for each of the planned expenses.

“Don't forget all the extras: extra food, decorations, dinner invitations, paper packaging…”

— Laurie Campbell, Director and Personal Finance Expert at Bromwich+Smith

Who says End of year celebrations also says the pressure to give gifts. Let's be honest, we all have our own financial limits, but we must not forget that the people to whom we give gifts also have their own limits, points out Laurie Campbell.

“Tip: start the conversation. »

— Laurie Campbell, director and personal finance expert at Bromwich+Smith

There is a certain social pressure regarding end-of-year gifts, when the memory of a good dinner sometimes stays in mind longer.

Setting a price limit in advance, choosing to offer gifts only to children, picking the first name of a single person blindly or distributing gifts wisely are some possible solutions. Talking about it with those affected, according to the finance expert, is avoiding the money pit and being honest about the current situation: prices have gone up.

For Lana Gilbertson, a successful gift is no longer synonymous with price, but above all with time offered and shared.

“Visit or call [someone], personalize gifts, offering a service, expressing gratitude or volunteering, these are all small things that can bring a lot of happiness.

— Lana Gilbertson, Financial Advisor at MNP

When we think back to the holidays, we don't think of gifts, but above all of memories , traditions, moments spent together, adds Laurie Campbell.

The two experts agree on one last piece of advice: the holiday season is above all the time to use your creativity and dare to be original.

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