5 Ways to Manage Holiday Spending
For Print Only Logo
Insights and Market Perspectives

5 Ways to Manage Holiday Spending

Author: Sound Choices

November 30, 2018

Follow these tips to avoid the January (and beyond!) blues.

This past week, Black Friday and Cyber Monday may have tempted many folks to overspend.

Here are five tips to help you spend reasonably for the rest of the holiday season so you don’t have regrets – or large amounts of long-term debt – in the new year:

1. Create a spending strategy.

You might think it kills the spirit of the season, but planning a budget and carefully considering who receives gifts and how much you’ll spend on them is a smart way to manage your expenses. Using debit or cash when possible also helps avoid the shock of huge credit card bills.

2. Secret Santa, One and Done, etc.

Whatever you call it, many people who are watching their spending or simply don’t like mass consumerism will agree with others in their circle to buy gifts only for one person. You can still have fun doing this and you won’t be stuck with a bunch of gifts that aren’t necessarily what you need or want.

3. Reconsider gifts for coworkers.

Some workplaces have a gift exchange, be it informal (e.g., buy a few things for close colleagues) or formal (like the Secret Santa concept above). People may do this out of obligation or to avoid looking like a “Scrooge” if they don’t participate. Casually ask around to gauge interest in gifting and, if many people prefer to opt out, then everyone can help their budget this season. Maybe you can get together for a nice lunch, instead.

4. Challenges with international purchases.

Retailers bombard you with tempting sales, especially around the holidays. Sometimes the deals are great, but beware of buying from outlets outside of Canada. Shipping fees can be high and you may also pay duty on your purchase. The exchange rate between the Canadian and U.S. dollar is another factor to consider. Suddenly, that great deal becomes expensive, so be careful when buying from foreign sources.

5. And a little something for yourself.

When shopping for family and friends, chances are you’ve spotted something that you’d like as well. It’s okay to treat yourself once in a while, but don’t overindulge and put your disciplined budget in jeopardy. Whether you’re buying for yourself or others, the bills keep coming just the same.


Talk to your financial advisor about effective ways to keep your holiday budget under control, so you can continue investing in your financial future.


The information contained in this brochure is based on material believed to be reliable and is provided as a general source of information and should not be considered any personal investment or tax advice. Every effort has been made to ensure accuracy at the time of publication, however AGF Management Ltd. and its affiliates cannot guarantee 100% accuracy of this information, and is not responsible for the development and creation of this material. It is important for investors to consult with their financial and tax advisors before making any investment or tax planning decisions. 
The contents of this Web site are provided for informational and educational purposes, and are not intended to provide specific individual advice including, without limitation, investment, financial, legal, accounting or tax. Please consult with your own professional advisor on your particular circumstances.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

For further information, please visit AGF.com.

© 2018 AGF Management Limited. All rights reserved.

More articles like this.

2018 year-end financial checklist

2018 year-end financial checklist

Add these items to your December to-do list to make sure you’re set up for 2019.

Read More
5 reasons to reconsider emerging markets

5 reasons to reconsider emerging markets

What are the emerging markets and how are they driving the global economy?

Read More
RESP vs TFSA: what else should you consider?

RESP vs TFSA: what else should you consider?

Education Savings: Which registered plan should you use? Also consider taxation, carry-forward, withdrawal options and age restrictions.

Read More