We're about to enter that critical last-minute shopping phase of the holiday season. But have no fear. Just remember your budget and don’t be led astray by the siren song of holiday commercials.
A well-known electronics store boasts about their wide selection of gifts…at $100. Seriously? Is that really the going rate for a gift in 2011? Or is this just their clever way of getting Canadians to spend money?
There are all kinds of surveys out there this time of year telling us the best way to buy presents and how much we should spend.
Fifty percent of Canadians plan to buy their presents online. Will you be one of them? Men appear to have embraced this way of shopping faster than women, but women are catching up this year. At least, that’s what the results of one online survey revealed.
Another online survey revealed that respondents plan to spend an average of $100 more during this year’s holiday season, compared to the 2010 survey.
Don’t budge from your budget
However, yet another online survey revealed that Canadians will be spending an average of $700 on presents this year, which is less than in previous years. Have you set a budget for your shopping, like close to half of the people who responded to this survey? Are you committed, like them, to sticking to this budget by spending more time shopping around and comparing prices? That could be the silver lining to this story: More and more people are now convinced it’s important to set a budget to keep their finances in check.
And as for electronics? The survey indicated that clothing, DVDs, CDs and books still top the list of popular gift items. But tablets are up there too, with one in four people considering buying one.
A time for sharing
The holidays are also a time for sharing, as we are reminded by the many organizations that help people or families in need. Perhaps you can save a little space in your gift budget for a donation.
On that note, the ActiLife newsletter team and Desjardins Financial Security would like to wish you all health, happiness, and financial security this holiday season!
Questions? Comments?