Don’t let the Easter Bunny hop through your bank account

Toronto ON – Only 16 more days until the Easter long weekend is upon us. Some see Easter as an excuse to buy a new bonnet, and for others it’s a time to indulge their children in another gift-giving holiday. Toys “R” Us says Easter is the second biggest holiday of the year for gift-giving.

In addition to gift-giving at Easter, consider the cost of decorations, toys and sweets to fill the Easter basket, the cost of creating a more elaborate meal, and even a mini-vacation.

According to a recent survey, there are Canadians who have planned a four-day Easter vacation to a major North American city. With hotel rates ranging from $81 to $180 per night, says these are “fantastic deals.” They are only deals if you can afford to pay for them within a reasonable period of time.

Whatever your plans are to celebrate Easter, make sure you have enough eggs in your Easter basket and are not using credit to pay for your fun.

“It looks like any holiday is a good reason to buy gifts or take a vacation, and Easter is no exception,” says Jeffrey Schwartz, executive director, Consolidated Credit Counseling Services of Canada, Inc. “If we continue on this holiday spending trend, we run the risk of putting ourselves deeper into debt.”

Our paycheques don’t grow based on how much we spend; they are the same from month to month. The best way to keep money in the bank is by living within our means. “Our trained credit counsellors speak with clients regularly about budgeting for every occasion so they aren’t caught without any eggs in their Easter basket,” continues Schwartz.

When you create your household budget remember to include these calendar events as expenses so you won’t need to use credit as the method of payment:

  • Family Day
  • Valentine’s Day
  • March Break
  • Easter
  • Mother’s Day
  • Victoria Day
  • Father’s Day
  • Canada Day
  • Labour Day
  • Halloween
  • Thanksgiving
  • Hanukkah
  • Christmas

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