With the flurry of shopping activity and expensive outings such as skiing at Christmas, it’s difficult not to think about money.
While it may be the season of wonderful sentiments, hugs and religious devotion, money plays a starring role in the holiday season. On gifts alone, British Columbians planned to spend $803.96 each this Christmas, according to a survey by Vancity. And that doesn’t account for the many other expenses associated with Christmas, including buying a new dress or shoes for a party, buying a turkey and wine for Christmas dinner, spending on decorations and expenses to travel to visit those you love. Then, once holidays arrive, there’s free time, which usually involves spending on pricey activities for the entire family.
You may be a little envious of people who seem to have the nicest outfits for the parties, buy the highest-end gifts and take the entire family to the slopes or on holiday, but unless they have their mortgage paid or have a family inheritance, it’s likely funded by credit card. Canadians currently have record personal debt levels and in B.C., they’re the highest in the country and climbing, according to the Chartered Professional Accountants of British Columbia. Real estate prices here are lofty but incomes are similar to elsewhere in Canada, so many people are house-poor, spending much of their monthly income on rent or mortgage payments. The exceptions may be entrepreneurs in the booming industries such as construction or health care.
For most, however, the elation of Christmas celebrations and champagne on New Year’s Eve is pricked sharply by the arrival of credit card bills in January.
It’s too late to avoid overspending on gifts but still possible to tame spending for the season and instead simply enjoy time with the people we love. In Squamish, we’re lucky. Hiking or walking the trails here is completely free and among the best experiences you can offer your family. Weather is likely to remain mild, so we can take the dog and children and simply enjoy time together as we gain fresh air and exercise. We have one of the nicest locations in the world, surrounded by spectacular mountain scenery and the ocean.
Here in Squamish, we’re all wealthy. And those who can be with their loved ones this holiday season and have some time off to laugh and enjoy time together are the wealthiest of all.
If you are with your family, nothing else really matters.
– Editor Christine Endicott
