The Christmas season has one last gift to give that most people don’t want to open – and that’s their credit card bill.
John Maisey is the senior advisor for Maisey Financial Services and he says people do tend to overspend during the holiday season but he says sitting down and creating a budget is vital because it gives you an idea of where your money is going.
“Once we figure out where the funds are going then we can tweak from there and try to put a plan in place to cover off the debt we incurred,” says Maisey. “But as well make sure we set up a savings plan for any of the short term and long term goals we want going down the road.”
Maisey adds the school system lets Canadians down by not teaching them financial literacy – but he says the important thing to remember is that at the end of the day money is a tool and has to be taken care of and used properly.
“It is a scary time for most folks,” says Maisey “So I would link up with a financial advisor and make sure you find somebody that’s got your best interests at heart and develop a plan that suits you and find an advsior that can put it in terms that you understand.”
Maisey ends by saying it’s not about what you make, it’s about what you save – and saving is easier than ever with things like the Tax Free Savings Accounts.
