How to save money
this holiday season and beyond

Do you find yourself financially stretched during the holidays? Do you throw out your budget in December only to start afresh in the new year? Interested in ways to stay on top of your finances without turning into Scrooge? Look no further. The following money-saving ideas will help you through December and serve you well throughout the new year.

Wise holiday shopping tips

There is no shortage of ways to save money during the holiday season. Here are a few ideas to get you started.

Make a list, check it twice. Write a list of everyone you need to buy for, what you hope to get each person on your list, and what you'd like to spend on the gifts. The list will help you stay on track and avoid the trap of impulse shopping.

Shop early. A good way to avoid panic shopping is to start as early as you can. The stores won't be as crowded, you can actually hear yourself think, and you may get some good prices.

Avoid busy shopping hours. Try to avoid gift buying during periods when malls and stores are likely to be swarming with shoppers - weekends, mid-December, Christmas Eve. During these times, it's tempting to spend quickly without thinking so you can flee the crowds.

Dress for shopping success. If you're wearing uncomfortable clothes - new shoes, heels, suit and overcoat - you may want to get everything over with quickly and may overspend. The same goes for shopping on an empty stomach, or when you're tired and cranky.

Shop online. You may be able to get some lower prices if you shop online, but make sure you start early: deliveries can get lost in the shuffle if you place your orders too deep into December.

Make your own gifts. If you have a talent for making things - baked goods, jams and preserves, arts and crafts, knitted items - why not personalize your gift giving? You'll save some cash, and the personal touch will go over well.

Use credit wisely. If you have a tendency to overdo it with your credit cards, use your debit card instead. The money comes directly out of your account, forcing you to spend only what you can afford.

If you do use credit cards, take advantage of the interest-free grace period (typically 15 days), and then pay your bill on time. Limiting yourself to one or two cards will reduce the temptation to abuse credit and make record-keeping simpler.

And while we're on the topic of credit, try to avoid department store credit cards, as they often carry the highest interest costs.

Think charitably. Why not opt out of the shopping spree by making a donation to charity in the name of a family member or friend? Ask them to do the same for you. Your favourite charity benefits, and you'll see a little tax break next spring.

Finding that extra cash

In spite of our best efforts to spend wisely during the holiday season, many of us will find ourselves short of cash come January. Here are a few ways to find that extra bit of cash you may need in the new year.

Cash in reward points. Had a look in your wallet or purse lately? No doubt you'd find a number of loyalty cards with all manner of reward features attached. Have you actually used any of the points you've been gathering? For instance, the travel points you've been diligently collecting may be enough for a new DVD player.

Use gift certificates. A large number of gift certificates are never redeemed (anywhere from 10% to 25%). Did you receive any gift certificates in the past year that you filed away? If so, make sure you use them before they expire.

Roll those quarters. Many of us throw our spare change into jars and then forget about it. You may be surprised how much you've gathered. Roll that spare change and put the cash into a high-interest savings account - better to earn some interest on that money than to leave it in the closet.

Trade in foreign cash. Have you been on a vacation recently and returned with traveller's cheques or foreign currency? Convert it into Canadian cash to help cover some of January's bills.

Entertain with imagination. A surefire way to save cash is to cut down on entertainment costs. If you're a reader, get books from the library or borrow them from friends instead of buying them. Used bookstores are also a treasure trove of delights. If you love movies, wait for the video. Most new releases quickly find their way to video and DVD.

Love getting together with friends over a good meal? Make dinner instead of going to that expensive restaurant, or have a potluck. If you're a coffee drinker, try the office brew instead of going for that double latte every day.

As you can see, the possibilities are endless. If you have any other suggestions or tips for saving money in small ways every day, let us know by email at enews@scotiabank.com. We'll compile a list and publish it in a future issue of The Vault.

In the meantime, you may wish to invest some of your savings in a high-interest savings account and see how quickly your money will grow in time for the next holiday season.

For more tips on day-to-day money savings, read our articles "How to budget for life: Parts I and II." Simply click on the Past Articles tab, above.

Need a great place to stash your cash and watch it grow? Scotiabank's Money Master® High Interest Savings Account lets you start earning more interest - today.

Your online safety checkup

Whether you are looking for a recipe, doing some research, conducting your banking, or sending an email, the Internet is a convenient and timesaving resource used everyday by millions of people around the globe. While the benefits of Internet usage are considerable, there are some online safety steps everyone should consider when making transactions or simply surfing.

Canadian banks, for example, have developed leading-edge security on their Web sites that allow customers to do all their transactions safely and securely. Standards are extremely high and customer protection is a priority. However, customers, too, have a responsibility to protect their personal information. To help keep your computing environment secure, ensure that you:

• Maintain control over access to your computer - whether at your home or office.
• Protect your computer with anti-virus software and keep the virus recognition data file up to date.

Following these other safety steps will also help.

Install a personal firewall

This is a software application used to protect a single Internet-connected computer from intruders. Personal firewalls work to protect the integrity of the system from viruses and hacking by controlling Internet connections to and from a user's computer, filtering inbound and outbound traffic, and alerting the user to attempted intrusions.

This will assist in personal computing security by blocking out attempts by hackers to look into your PC and steal data. This measure is especially important for users who have "always-on" connections, such as DSL or cable modem. Many firewall products are now available that are easy to install and provide reasonable protection.

Clear your browser's cache and history

Whenever you surf the Web, a record of the Web pages that you visit is kept in the "History" and in the browser's "Cache". This is done to speed up the display of the Web page that you may wish to visit again. In this case, the computer will be able to retrieve the Web page from the cache instead of downloading it all over again from the Internet.

This feature however presents a security risk as anyone who may get control of your computer can likewise open the cache and the history to look at all the pages that you recently visited. Therefore, it is important to clear your browser's cache and history after you have conducted any kind of transactions online - so that someone is not able to view this information later.

Depending on the Internet browser and computer there are a couple of different ways to clear your cache. The following link provides instructions on how to accomplish this using some of the most common browsers: http://www.scotiabank.com/cda/content/0,1608,CID5135_LIDen,00.html#q10

Disable the "AutoComplete" function in your browser

® Registered trademark of The Bank of Nova Scotia.
^TM Trademarks of The Bank of Nova Scotia.