How to have fun while getting out of holiday debt
The holiday season is a time of great joy for many Canadians, but it’s also a time of year where concerns over mounting debt and overspending come to the fore. In 2019, Canadians spent an average of $1,593 over the holidays, and nearly one in five of us had concerns about how credit card debt would increase during the holiday season. If your New Year’s resolutions include sticking to a financial plan in 2020, you are not alone. Getting back on track in this new year will certainly require some corrective measures, but you can do that while still taking the time to enjoy budget-friendly winter activities.
Cheap winter fun
When trying to get out of holiday debt, a trip to a warm sunny destination isn’t an option, but enjoying the great outdoors is still a possibility. If you’re not sure how to get started on the hunt for fun things to do that don’t cost a lot of money, we have some ideas.
When you are trying to get your finances back on track, it’s easier to stick to a budget if there is some room built in for fun activities to make cutting back seem less like a chore. If those fun activities also include time outdoors, it can be beneficial for your mental health too!
Resetting finances in the new year
To help make the fun manageable next year, be sure to keep our recommendations for holiday budgeting handy as you make a plan for more financially responsible spending this year. The start of a new year presents an opportunity for a fresh start — make the most of it.
If your holiday debt is more than you can manage, you may want to consider consolidating that debt to lower your total cost of borrowing. Try our savings calculator to see how much you could save by consolidating your debts.
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