TORONTO — Mother’s Day is this Sunday, in case you’ve forgotten. If you haven’t bought anything yet for the woman who gave birth to you, it’s not too late. But be aware that procrastination can lead to overspending, according to experts.
Surveys show Canadians spend around $100 on Mother’s Day. And not that your mom doesn’t deserve to be splurged on — but if you’re not in the greatest of financial situations, you might be better off putting three-quarters of that money toward paying down your credit card debt or building your savings, said Jeff Schwartz, executive director of Consolidated Credit Counseling Services of Canada.
“For Mother’s Day, it certainly is the thought that counts.”
“Think carefully about what your mom would truly appreciate, and it will be easy to find a happy medium between skimping and splurging,” Schwartz advised.
After all, the last thing your mom would want is for you to blow away money on a thoughtless gift, which only puts you deeper in the hole.
While the idea of a $25 budget might sound a bit tight to some, the team at Consolidated Credit has put together the following list of five options that make it doable:
Hand-made cards are always a nice touch. And sometimes, nothing beats a home-cooked meal. You can find some recipe ideas for what to whip up this Mother’s Day below:
WATCH BELOW: Winnipeg blogger and mom Natalie Bell offers some tips on good gifts for the moms in your life this Mother’s Day
© 2015 Shaw Media