5 Christmas financial tips those loving in Simcoe Cunty
Traditionally during the Christmas season, people spend more money or want to at least. At the same time, there can be increased pressure and bills that come in.
Here at Experior Financial, we take a holistic approach to managing your money. If you would like help in moving to financial
success, click here for free resources receive our Free Expert financial analysis.
5 Christmas Season Financial Tips
1)Tell your money what to do.
Use a budget; yes, everyone says to do this. The reality is money is not infinite. So you have to manage it. You have to know where to say no and where to say yes. Using a budget is about empowering you to master your money instead of it mastering you. Here is your challenge this year – Don’t take on debt this season
2)Consider an RESP Loan –
December 31 is the last opportunity to contribute to an RESP in a given year. Remember, the more you invest in that RESP, it opens you up to Government grants. Those grants increase the value of the RESP, and you can then earn more in the investment.
Some calculations will need to be figured out in learning what you can take out as a loan. The goal is to borrow what you would receive in tax returns and deposit that into the RESP. Thus, it increases the value and gets more matching grants from the government.
3)What is important this Christmas season?
My family has often kept things simple; there are many free things one can drive to, or inexpensive activities. For my family, it has always been about community. We gather with family or gather with friends. Many times those gatherings are cost-shared and straightforward across the group. You do not have to spend a lot to create some good memories. Don’t worry about keeping up with the Joneses.
4)Save those points for the Christmas season.
It could be PC points or RBC points; there are different ones out there. Over the years, just from spending what we would have done already, we have racked up points given by various companies. We then use those points to help in our Christmas celebration. We have done this to buy Christmas gifts for our kids and provide a bigger Christmas meal for Christmas day.
5)Give
I know perhaps you came here to look for ways to keep the money. However, I have a philosophy that part of managing your money and finding financial success is learning to be generous. Generosity can take many forms and does not always have to cost a lot. One of the significant assets is time. Perhaps you serve a group or just one person. Generosity starts now, not when you have more. If you can not do it now, you will not do it when you have more. How could you or your family bring joy, gladness to just one person?
May you have a great Christmas season.