How to budget for the holidays and avoid debt

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How to budget for the holidays and avoid debt
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In his column for CTVNews.ca, personal finance contributor Christopher Liew Below offers some helpful tips and budgeting advice to help ease your financial stress during the holidays.

In his column for CTVNews.ca, personal finance contributor Christopher Liew Below offers some helpful tips and budgeting advice to help ease your financial stress during the holidays As kids, the holidays were full of fun experiences, excitement, and anticipation of the gifts we would receive. Once we grow up, though, the holiday season can take on a new meaning -- one that often brings financial strain and stress.

If you’re a gifted artist or crafter, consider making a personalized gift rather than buying something from a store.One of the worst things you can do during the holidays is to go into debt to impress others with gifts that are more than you can actually afford. Not only is it financially irresponsible, but it can sour the entire mood of the holiday season and lead you to resenting the gifts and people you’re giving them to.Open up a new savings account and designate it as your holiday savings.

Christopher Liew is a CFA Charterholder and former financial advisor. He writes personal finance tips for thousands of daily Canadian readers atThe Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop.

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