VIDEO: Tips to avoid overspending this holiday season

It’s easy to get swept up in the holiday spirit and find yourself in debt in the new year.

The holiday season comes every year and so too the warnings of overspending, but the consequences of a financial hangover this year are growing compared with just a few years ago.

READ MORE: ‘Bait and switch’ warning ahead of Black Friday, Cyber Monday

As the Bank of Canada continues to raise its key interest rate target, the cost to borrow using variable-rate loans like home-equity lines of credit has climbed higher and is expected to continue to rise next year.

TD Canada Trust’s Jennifer Auld shares things to consider when managing your holiday spending.

The Canadian Press

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Coastal GasLink breaks ground on meter station in Kitimat

Meter station marks final point on pipeline that stretches from Northeast B.C.

Mayoral nominations open Sept. 1

Deputy Mayor Gladys Atrill confirms she will be running for the top job

Brucejack mine fatality identified

Patrick Critch was from Newfoundland

Friendship Centre optimistic MMIWG mural will be painted this year

Following trauma-informed healing workshops, project is now in the design phase

Canada to match donations to Lebanon relief

Canada is directing all of its aid for this crisis directly to humanitarian organizations, not the Lebanese government

$45K in donations received after couple’s sudden death in Tulameen

Sarah MacDermid, 31, and Casey Bussiere, 37, died August long weekend

Famous Yukon-based bhangra dancer brings movements of joy to Long Beach

Infamous dancer is exploring Vancouver Island, visiting the B.C. Legislature and other destinations

Battle of Fairy Creek: blockade launched to save Vancouver Island old-growth

‘Forest Defenders’ occupy road to prevent logging company from reaching Port Renfrew-area watershed

COVID-19 could mean curtains for film and TV extras

Background performers worry they’re being replaced by mannequins on film and TV sets

Laid-off B.C. hotel workers begin hunger strike demanding job protection

Laid-off workers not sure what they’ll do when government support programs end

‘Huckleberry’ the bear killed after B.C. residents admit to leaving garbage out for videos

North Shore Black Bear Society said it was local residents who created a ‘death sentence’ for bear

Researchers find cannabis use in pregnancy linked to greater risk of autism

Researchers caution findings only show association — not cause and effect

Small Manitoba town mourning after well-liked teens killed by tornado

Melita residents feeling profound grief after the deaths of Shayna Barnesky and Carter Tilbury

Most Read