Chris Worby is a Trusted Regina-based financial advisor and Wealth Management services provider. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners in Regina and area. Worby Wealth Management listens and provides a personalized financial plan. In their latest Worby Wealth Management Trusted Regina Financial Tip, Chris Worby provides 9 smart strategies for controlling holiday spending.

9 Smart Strategies for Controlling Holiday Spending

The holiday season is undoubtedly the most wonderful time of the year, but it can also be the most expensive. The costs can quickly add up between gift-giving, decorating, entertaining, and travelling. However, with a little planning and discipline, it’s possible to enjoy a festive Christmas without breaking the bank. In this blog post, we will explore some smart strategies to help you control your holiday spending and make the most of this joyous season without accumulating excessive debt.

1. Set a Realistic Budget
The first step in managing your holiday spending is to set a budget. Look closely at your financial situation and determine how much you can comfortably afford to spend without jeopardizing your financial well-being. Consider all aspects of your holiday expenses, including gifts, decorations, travel, and special events. Having a clear budget in mind will keep you on track and help you avoid impulsive spending.

2. Make a List and Prioritize
Once you have your budget in place, list the people you want to buy gifts for and the items you plan to purchase. It’s essential to prioritize your spending by allocating more money to loved ones and less to acquaintances or co-workers. Be thoughtful and practical when selecting gifts to ensure your money is well-spent.

3. Embrace Homemade Gifts
Making homemade gifts is one of the most heartwarming ways to control holiday spending. Handcrafted items, like homemade candles, knitted scarves, or baked goods, save money and show the thought and effort you’ve put into creating something special for your loved ones.

4. Take Advantage of Sales and Discounts
Keep an eye out for holiday sales and discounts in stores and online. Black Friday, Cyber Monday, and other seasonal promotions can help you stretch your budget. Planning ahead, creating a shopping list, and sticking to it when hunting for deals to avoid impulse purchases is essential.

5. Utilize Cash and Debit Cards
Credit cards can make holiday spending easy but also lead to overspending due to the allure of deferred payments. Instead, opt for cash or debit cards when shopping. This way, you can’t spend more than what’s in your account or within your set budget.

Spent too much on gifts 6. Track Your Spending
Keep a record of your holiday spending by maintaining a spreadsheet or using a budgeting app. This will help you stay accountable and prevent exceeding your budget. Regularly reviewing your expenses can also alert you to any areas where you might need to cut back.

7. Plan Your Meals and Entertainment
Holiday feasts and gatherings can put a significant dent in your budget. Plan your meals and entertainment well in advance, making a shopping list and seeking out affordable recipes. Consider potluck-style gatherings to distribute the cost among your friends and family.

8. Set Limits on Decorations
Decorations can be beautiful but costly. Consider limiting your spending on holiday decor, or make it a tradition to reuse decorations from previous years. DIY decorations can also be a fun and cost-effective way to add festive flair to your home.

9. Consider Charitable Giving
The holiday season is a time for giving, and it doesn’t always have to be in the form of material gifts. Consider allocating a portion of your budget for charitable donations to positively impact those less fortunate.

The holiday season is a time for joy, togetherness, and celebration. While gift-giving is a cherished tradition, it’s essential to do so in a way that aligns with your financial reality. By setting a budget, making a list, and being mindful of your spending, you can enjoy the season without accumulating excessive debt. Remember, the true spirit of giving is about love and connection, not the price tag of your gifts.

Contact Worby Wealth Management Regina so we can review your personal finances and estate planning needs today.

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The comments herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice in the context of your particular circumstances. This Blog was written, designed and produced by Chris Worby for the benefit of Chris Worby, a Financial Advisor at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc. The information contained in this article comes from sources we believe are reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the publication date and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell securities. Mutual Funds approved exempt market products and/or exchange-traded funds are offered through Investia Financial Services Inc.

Meet Saskatchewan IT Experts -Anchor Managed Solutions

The Trusted Regina community is thrilled to welcome a new business-to-business partner to our thriving business ecosystem.- Anchor Managed Solutions, established in 2014, has quickly risen to become one of North America's leading IT companies, specializing in supporting small and medium-sized businesses in the Saskatchewan region. With a dedicated team of experts and a commitment to providing top-tier IT solutions, Anchor Managed Solutions has proven itself a trusted partner for businesses needing tech support and guidance.

Meet the Visionaries: Andrew, Pat, and Shawne

Behind the remarkable success of Anchor Managed Solutions Ltd. are three passionate and dedicated local founders: Andrew Ouellette, Pat Kolysher, and Shawne Hancock. These leaders have collectively brought a wealth of experience and expertise to the company, making Anchor a standout choice for businesses seeking IT excellence in Saskatchewan.

Andrew Ouellette's extensive experience in IT spans a wide range of industries. His profound knowledge has been honed through numerous projects, including designs for prominent organizations in Saskatchewan, such as mining, telecom, and health regions. Andrew has earned the trust of technical leads throughout the area and has a well-deserved reputation for delivering exceptional IT solutions.

Pat Kolysher’s versatility in the IT field is impressive. He excels in software programming, IT recruitment, business development, and account management. He holds a Six Sigma Green Belt Certification, showcasing his commitment to excellence. His history of providing software support to healthcare institutions, including the U.S. Department of Defense, demonstrates his dedication to developing innovative programs that meet the specific needs of businesses in our province.

Shawne Hancock's journey in the IT industry dates back to the late 90s and has taken him through various roles, from desktop support to managing one of Saskatchewan's largest help desks. His exceptional leadership and time management skills, shaped by his experience in the Canadian Forces, have been invaluable. Now, as the Chief Operating Officer of Anchor Managed Solutions Ltd., Shawne uses his expertise to ensure efficient operations and services for their clients.

Anchor Managed Solutions has brought a wave of change to many businesses in Saskatchewan, serving as a guiding light through the complex world of technology. Their award-winning Help Desk operates 24/7/365, providing the support you need whenever you need it. But Anchor offers more than just tech support. They provide a range of professional services, including project management, scoping, and planning. Their advisory services help with policy development and compliance, ensuring your business stays on the right track.

What their clients say…..

“ We have been with Anchor Managed Solutions since their early beginnings. In the area of IT there can be so many things that come up and there have been bumps in the road but they have always made things better. I really feel like they have our backs. They will get to work when issues arise and do whatever it takes to take care of things as quickly as possible. I am pleased with our partnership with Anchor Managed Solutions and that is why we have been with them for so long.”
- Diana Perviera.

In addition to their comprehensive IT support, Anchor Managed Solutions offers their clients procurement services. Whether you need hardware, software, or online store membership and discounts, Anchor has you covered!

Anchor Managed Solutions is a proud Indigenous-owned Saskatchewan company. This distinction signifies a commitment to diversity, inclusion, and empowering Indigenous peoples in business. As an Indigneous-owned enterprise, Anchor Managed Solutions contributes to the region's economic development and promotes cultural awareness and social responsibility. It is a testament to the potential for success and collaboration in an increasingly diverse and interconnected global economy. It demonstrates that when businesses prioritize Indigenous ownership and values, they enrich the fabric of their communities and foster a more inclusive and equitable society.

But what truly sets Anchor Managed Solutions apart is their teams’ proactive approach to IT and cybersecurity. They are dedicated to taking the burden of technology management off your shoulders so you can focus on what truly matters – growing your business. Their tagline, "IT Done Right," reflects their commitment to excellence and their promise to deliver IT solutions that truly work for you.