Michael BOLLARS AND SENSE EAT, SPEND and be merry! But do try to avoid the Christmas credit crunch so the new year won’t find you suffering from: “financial indigestion. Truth be known, even Scrooge Grenby doesn’t always follow his awn advice to stock up on gifts _ and decorations at post-holiday sales for the following Christmas. Nor does he always ser aside $50 or $300 a month during the year to fund a $600 or $6,000 spending splurge in December on presents, entertaining, new clothes and/or perhaps a ski or sun break. Of course we all want to help the economy get going again. And of course we’re going to do most of our spending in Canada, thanks to our spirit of patriotism (and the weak Canadian dollar). As I write this, interest rates are Avoid spending frenzy at Christmas crunch moving up. Hopefully, this will warn us to keep our finances in the black as much as possible, and limit the red ink that threatens to spill over the ledger around this time of year. Cleaning up that red ink will prove to be an expensive task unless rates fall back early in the new year. Motivate yourself with modera- tion. To paraphrase part of the seasonal saying: Yes, Virginia, there is a Spending Pause which can live happily side by side with the Holiday Spirit. The key is to stand back from any spending frenzy that might threaten to engulf you, to think for yourself and decide (1) how much money you are going to spend, and (2) where that money willcome from. - This should be a strictly indi- vidual (or at the very least, close family) choice. Resist social pressures and ‘‘what the (extend- ed) family expects.” When you make investments, you do so for your own reasons. So when you decide about spend- ing money, also make this a per- sonal decision. Unless you have already com- pleted all your shepping and other spending, you still have time to avoid — or at least minimize — any credit crunch. Rather than looking at how much you plan to spend, first look ai how much you are prepared — or can afford — to spend. Once you have set your limit, then go back to the spending. Write down al! your remaining plans. There’s only one rule: you can- not exceed the limit you have set. If expenses run over budget (as they almost certainty will, list those expenses in order of priori- ty. “hes a bit jike paring down wed- ding gtrest invitations. You have to eliminate names of people you'd like to have until you reach the reception location’s capacity — or, ugain, your budget limit. Review your holiday gift list. You can either cut the number of individuals or the amount you spend on each individual — or bath. Is it possible to give some people handicraft items or your own (babysitting, gardening, etc.) services instead of bought items? Review your entertaining ex- pense list. Again, what are the priorities? Can you separate “wants’’ (optional) from ‘‘needs’’ and either reduce/eliminate the “wants’? or at least reduce the money you spend on these func- tions? New clothes, holidays (for which you haven't already paid), other expenses — list them all and put them ‘through the priority process. Once you’ve hammered out a plan, help yourself stick to it by putting the allocated money (if you have it) into a special ac- count, or buy traveller's cheques up to the budgeted amount. When the money’s gone, your spending is ever. if you don’t have some or all of the funds, it will be in your inter- est to find the route of least inter- est. You might like to open a line of credit with a limit equal to vour holiday spending budget. Gr you could use credit cards. But most of them charge far more than a line of credit (as much as 32.9% a year on outstanding balance), And they tend to have higher limits, masking your spend- ing and allowing the red ink to run all too freely. Or you could take out a per- sonal loan with a fixed repayment Windscr House hosts fun day EVERYONE IS invited to the Winter Solstice Family Faire on Sunday, Dec. 6, from noon to 6 p.m., at 440 Hendry Ave., North Vancouver (North Van- couver YMCA building). The fair is a fundraising event for Windsor House Parent Participation School. The Winter Solstice Family Faire will be a fun event for all ages. Local crafts and gift items, plus quality good-as- new items will be on sale. There will be children’s on ys games and prizes, Celtic Rune readings, door prizes and raf- fles. Family workshops will offer candie-dripping, card print- making, musical instrument making, symbol decorations and winter bike nme-ups {bring your bike). The Tea Room will be a place to relax and enjoy delicious refreshments. For more information and to register for the workshops in advance, cal] 254-1293, Christmas comes schedule — as long as you then don’: run up the cards and line of credit again. Debt is part of life. But don’t Jet it spoil your life with an ex- pensive hangover after the festive season fades. - Copyright 1992 Mike Grenby is a North Shore-based columnist and in- dependent financial adviser who works with individuals; he will answer your questions as space allows — write to him c/o The North Shore News, 1139 Lonsdale Ave., North Vancouver V7M 24, | For more information, please call The North Shore’s only full Sesvice investment firm RBC BOMINION SECURITIES Member of te Royal Bek Group 925-3131 201-250 15th Street, West Vancouver ds The businesses below have generously offered to act as depots for donations for the West Van Santa Claus fund and the North Vanccuver Christmas Bureau. Donations by cheque can be made directly to: The North Van Christmas Bureau PO. Box 38568 North Vancouver, B.C. V7L 417 Information: 984-XMAS922-6522 Non-perishable food items only. Please give before December 17. NORTH VANC A Shade Better 1877 Marine Drive Beaver Lumber 915 West Ist Buy Low Foods 730 West 14th Capitano Suspensicn Bridge 3735 Capilano Ro: Grouso Mountain 6400 Nancy Greene Way North Shore Winter Club 1325 Keith Road NV. District Municipal Hail 355 West Queens Crest Realty 101-2609 Westview Dr. Shaw Cable 1471 Pemberton Save-On-Foods Park & Tilford Queens Cross 2989 Lonsdale OUVER Stong’s 415 Dollarton Hwy. Lynn Vailey Centre Sussex Realty 2996 Lonsdale The Blossom Shop 3077 Woodbine Wheels 1790 Marine Dr. ReMax Esplandade #109-267 W. Esplanade WEST VANCOUVER - Pharmasave Cauifeitd Village Stong’s Dundaraye 2491 Marine Drive Windsor Meats 1810 Marine Drive Sussex Realt 2397 Marine ad rive West Van Santa Claus Fund PO, Box 91114 \? West Vancouver, B.C. V7V 3N3 Information: 922-6522 All three donations may be made at: North Shore Credit Union 1100 Lonsdale 1080 Marine Dr. 399 N. Dollarton Lonsdale Quay Market 123 Carrie Caies Court 1247 Ross Rd. 3131 Ecgemont Park Roya! South North Shore News 1139 Lonsdale Ave. Please drop off any new or nearly new toys to any firehall on the North Shore. Toys should be clean and in gocd condition. * The North Vancouver Chastmas Bureau 3 a dwision of Narth Shore Family Services Society. Heh VOTE OF ORT Aieft WERE WACOUELR nae —_— Donations to the Chnstmas Bureau not required for the cursent vear wl be used to support chiiden’s, Programs throughout the year.