‘Stop spending money you don’t have,’ warns financial advisor Larry Short.
Are you stressed out about how much you spend during the holidays?
Financial advisor Larry Short has some blunt advice.
“Stop spending money you don’t have on things you don’t need, trying to impress people who don’t matter,” he told CBC’s St. John’s Morning Show today. “You’ll be able to sleep a lot better at night.”
A new study by the Chartered Professional Accountants of Canada found that the average person plans to spend $643 on gifts. The study also found just over half of Canadians, 52 per cent, set a budget for holiday spending, and while 67 per cent of us say we don’t expect to overspend, when we do go over budget, 69 per cent of us do it for our children or significant others.
Short, the spokesperson for the Chartered Professional Accountants of Canada, said it’s important for people to keep an eye on their Christmas budget, because people often find themselves getting in over their heads.