"Tis the season for racking up debt. The accountants at BDO Canada say it happens every year, so they're offering the gift of free advice. They came over to KelownaNow to offer up a few tips on how to avoid overspending over the holidays.
The majority of Canadians (52%) live pay cheque to pay cheque, meaning they have no buffer to take care of expensive surprises or loss of employment. The advice is to plan ahead and avoid getting wrapped up in the commercialism of the season. And before it starts, prepare to fight off the FOMO (fear of missing out).
"Entertaining can be a big one," said Kelowna BDO manager Dustin Joslin. "Try hosting a potluck," he suggested. Joslin told KelownaNow that with a little forethought, people can find memorable ways to celebrate and connect with loved ones without spending a lot of money. Good advice for anyone who doesn't want to take the "Happy" out of the New Year.
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