How to Celebrate Mother’s Day When Your Wallet Says No

The average Canadian will spend $63 on their mother this year according to a recent poll

TORONTO, ONT, May 05, 2016 – Mom is the rock of the family. She remembers everything from first baby steps to things everyone would want to forget. Mother’s Day is Sunday May 8 and most Canadians cannot wait to honour their mom.

Mother’s DayMother’s day marks the official start of a busy gift-giving season for many Canadians; as well as Father’s Day, summer weddings, and birthdays  According to a recent poll by Ebates.ca, Canadians will spend on average $63 on their mother’s this Mother’s Day because she simply has everything she needs.  It doesn’t stop with Mother’s Day, the same poll says Canadians will buy two gifts per month and spend $166 on average for multiple occasions this spring and summer.

“The poll clearly indicates Canadians are in a gift giving-mood,” says Jeffrey Schwartz, executive director, Consolidated Credit Counseling Services of Canada. “However when you are strapped for cash – spending almost $200 on multiple gifts for a variety of occasions this can break the budget if you haven’t accounted for it.”

Because consumers enjoy spending money on their mom, some Canadians may be relying on credit to purchase the perfect gift.

“There is nothing wrong with buying your mom that special gift. What many Canadians have to realize is they have to budget for their Mother’s Day gift as well as factor in whatever other gifts they have to buy too,” says Schwartz.

As Canadians enter the second busiest gift-giving season of the year, Consolidated Credit Counseling Services of Canada recommends the following tips for the perfect Mother’s Day gift for a cash-strapped budget:

  • Mother’s Day is about honouring mom, it is not about creating debt. Create a budget and stick to it.
  • Serve mom her favourite meal for breakfast in bed. That will get her day off to a great start!
  • Whether you are crafty or not, show your mother that you care by creating a scrapbook with some of your fondest memories together.
  • Do all of the chores in the house for the entire day on Mother’s Day. Mom will enjoy taking a break to catch up on some of the shows she has missed.
  • Write your mom a poem or letter. Sharing how you feel about her on this special day will last forever.
  • Whether it’s on the phone, the computer or in person, bring the family together to spend some special time with mom.

“Canadians can honour their mom on Mother’s Day without going into debt. Remember, Mother’s Day is about showing your mom how much you appreciate her, not about overspending on a material gift,” says Schwartz.

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About Consolidated Credit Counseling Services of Canada, Inc.:

Consolidated Credit Counseling Services of Canada is a national non-profit credit counselling organization that teaches consumers about personal finance.

For more information or to request an interview with Jeffrey Schwartz, please contact:

Natasha Carr

Manager of Community and Public Relations

Consolidated Credit Counseling Services of Canada, Inc.

T: 416-915-7283 ext 1041

C: 416-830-4720

F: 416-915-5200

E: ncarr@consolidatedcredit.ca

www.consolidatedcredit.ca

 

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