Friday December 23, 2011
The Last-Minute Club
According to the BMO Holiday Spending Survey, fewer Canadians are waiting until the last minute to cross names off of their holiday shopping list, with the majority planning their shopping weeks or months in advance (44 per cent and 37 per cent respectively).
However, one-in-ten (11 per cent) still don’t begin their holiday shopping until the last minute, leaving themselves only a few days to wrap up their gift giving.
“With Canadian families balancing busier schedules more than ever before, it’s no surprise that a few shoppers will be rushing around at the last-minute. However, this last-minute rush can often cause people to make impulse decisions and sometimes over-spend extend themselves on gift buying,” said Su McVey, Vice President, BMO Bank of Montreal. “Planning ahead and establishing a budget early on to cap and track holiday spending can help avoid last-minute spending pitfalls.”
Ms. McVey added that online banking features, including tools such as BMO MoneyLogic(TM), allow Canadians to set spending limits and get immediate insights into whether or not they are staying on track.
So as Canada’s last-minute shoppers rush to cross names off their shopping lists, BMO Bank of Montreal offers the following Do’s and Don’ts for the frantic, time-crunched holiday shopper:
Don’t Panic – You still have time to get everything done. Keep your shopping list handy at all times and try to pick up one or two items when you can – either during your lunch hour or after work. A call ahead to the retailer can confirm whether or not your item is in stock. Ask them to hold it for you so you can get in and out of the store quickly. (Source: Marketwatch)