Loading...
HomeMy WebLinkAboutClinton News-Record, 1987-12-02, Page 535 ff Page 23 Set a budget for Christmas spending each year If decking the halls has you ducking the bills until April, it's time to take a hard look at Christmas spending habits, say consumer experts. "Unless you look great in red velvet and make a living working with elves, Christmas costs you money," says Roberta Allan of the Ontario Ministry of Consumer and Commercial Relations. "But it really isn't necessary to amortize Christmas ex- penses through till Easter every year. Two key things can help keep costs under control — a simple budget and aiew lists. Make that three things. I forgot determination." A household budget is indispensable at any time of year. At Christmas, it can be a lifeline, Allan says. Unless you know how much money you can afford to spend, it's a simple matter to slip into serious debt. Budgets are basically lists of expenses — summaries of how much it costs to live every month. First set out all the necessary expenses such as the cost of rent or mor- tgages, insurance, food, and anything else that cannot be avoided. Expenses for hob- bies, savings or activities you refuse to give up should be listed next. Finally, include costs for extras such as dining out, entertainment, personal allowances or anything that could be cut down or deleted entirely if necessary. Add up . the total monthly expenditure and compare it to your net income. "This will give a good picture of your financial situation," Allan says. "If you're already spending more than you make, Christmas could cause serious problems. Some people who go into the holidays in this kind of financial situation end up with debt collectors at the door or worse." Credit Counselling Bureaus located across the province offer free help to con- sumers facing serious difficulties with debts. Counsellors can help set up practical, realistic budgets and debt management pro- grams. When necessary, they can try to ar- range loan consolidations and negotiate manageable payment plans with creditors. "If you really need help, get it now, in- stead of waiting for Christmas to put you over the edge," says Allan. "The number for the nearest bureau will be listed in your phone book under Credit Counselling." Using your budget, figure out how much you can afford to spend on Christmas without stretching the payments on for months. Holmesville we can lend a helping hand. Are You PLANNING YOUR WEDDING over the holidays? Take advantage of our DECEMBER HOURS Monday - Friday 1 p.m. - 5 p.m. Saturday 10 a.m. - 5 p.m. 10% off any item in book 30°A off 0 we do your Bridal Arrangement Milena Lobb 482.5700 Res. 482-3062 "That figure is the bottom line — this is where the determination comes in. Commit yourself to holding that line on spending or you'll be in debt until March again this year. You'll be back on the merry-go-round — always playing catch-up and never able to save for the coming Christmas." Take 10 per cent of the total "Christmas budget" and set it aside for unexpected or forgotten expenses. Next list all necessary purchases such as a tree, decorations, wrapping paper, cards, and any other items that come to mind, along with approximate prices. Add up these costs and subtract the total from the Christmas budget. The final list should include the names of everyone who will get gifts from you. Divide up the remainder of the Christmas budget for the gifts. "You might be looking at spending only 25 per cent of your usual Christmas costs, so you'll have some tough decisions to make," Allan says. "Some people may have to fall off the gift list or maybe you could make a few presents this year. But ask yourself who is really going to suffer because you've had to cut back — you're probably taking it harder than anyone else will." Other friends and relatives may well be trying to cut costs too. Perhaps this year, everyone would be happy to set a limit on how much gifts can cost. Some large families draw names Think of it a Christmas Gift Every driver on your list will appreciate a C.A.A. Membership. What a great way to tell someone how much you care! When you give a C.A.A. Membership. your friends and relatives will enjoy Personal Travel Counselling, Ex- clusive C.A.A. Tour - books, Triptiks and Maps, dependable m Emergency Road Ser- vice and American Ex- press Travellers Che- ques fee -free. Enroll now as a new master member or give a Gift Member- ship and receive a Free 101/2" C.A.A. Bear. s CAA Gift Membership Only s45oo '8M 'Design FAMILY HAIRSTYLING 482.7711 ON"AR O 4 i STOCKING STUFFERS Paul Mitchell Travel Paks Haircare Products, Combs, Brushes, Earrings and Fashion Hose! Special Suggestion — Give GIFT CERTIFICATES! Call for more details: 482-9300 From Marlene, Pat, Ann and Bonnie " * Book early to avoid disappointment 7 RATTENBURY ST. EAST CLINTON