CANADIANS’ BIGGEST SOURCE OF HOLIDAY STRESS: MONEY
By Masalamommas Team
Even though some of us may not necessarily celebrate the Christmas gift-giving season like other moms, still, it seems holiday time is plagued with stress. Financial strain seems to be high during this time of year. Many of us may be juggling in-laws, parents, kids, work and some of us might have left budgeting for the end of the year.
In fact, a Survey for President’s Choice Financial shows budgeting tops the list of causes for Canadians’ stress during the holiday season, and a surprising number of people plan to use loyalty points as a money-saving solution, according to a Leger survey conducted for PC Financial®.
According to the survey:
- 41.3 per cent of respondents list budget as their top source of holiday stress, followed closely by choosing gifts (41 per cent), time management (31 per cent), paying post-holiday bills (29 per cent) and watching calorie consumption (25 per cent). A small number (four per cent) suffer from so much stress that they “hate the holidays.”
- 46 per cent plan to cash in their points from various loyalty programs to stretch their holiday dollars (20 per cent “definitely” and 26 per cent “probably”).
- Among those who will use their points during the holidays, 48 per cent will use them to buy gifts, while 37 per cent of those people will opt for gift cards. However, since 81 per cent of respondents report collecting loyalty points, many may be missing out on this possible money-saving solution.
“While most of us love the holidays, our bank accounts take a hit during this time,” said Barry Columb, President of President’s Choice Bank. “PC Financial’s no-fee bank account and PC Financial MasterCard help our customers give more joy and experience less stress on their wallets. Customers can redeem their PC points in Loblaw banner supermarkets for virtually anything in store.”
So what’s a smart way to use loyalty points?
Customers with PC® points for example, can redeeem points for holiday gifts, such as gift cards or even a prepaid mobile phone, in addition to everything you need for holiday entertaining and meals.
“Using my PC points for holiday purchases is my secret to bringing
less stress and more joy to the holiday season,” said author and TV personality Kathy Buckworth, Chief Family Advisor for President’s Choice Financial® and a mother of four.
How do you stack up against the rest of the country?
• Atlantic Canadians (57 per cent) and Ontarians (54 per cent) are more likely to consider using their loyalty reward points for holiday-related purchases compared to the rest of Canada (38 per cent).
• Canadians in Ontario (46 per cent), the Prairies (46 per cent), and Alberta (47 per cent) are more likely to enjoy
holiday traditions than those in British Columbia (34 per cent).
• Atlantic Canadians are more stressed about paying the bills after the holidays (42 per cent) compared to Ontarians
(29 per cent), Albertans (23 per cent) and those from British Columbia (29 per cent)
About the survey
About this survey: The President’s Choice Financial® survey was completed online using Leger’s online panel, Leger Web, with a representative sample of 1,515 Canadians between November 4 and November 7, 2013. A probability sample of the same size would yield a margin of error of ± 2.5%, 19 times out of 20.
This post was sponsored by PC Financial
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