VIDEO: Tips to avoid overspending this holiday season

It’s easy to get swept up in the holiday spirit and find yourself in debt in the new year.

The holiday season comes every year and so too the warnings of overspending, but the consequences of a financial hangover this year are growing compared with just a few years ago.

READ MORE: ‘Bait and switch’ warning ahead of Black Friday, Cyber Monday

As the Bank of Canada continues to raise its key interest rate target, the cost to borrow using variable-rate loans like home-equity lines of credit has climbed higher and is expected to continue to rise next year.

TD Canada Trust’s Jennifer Auld shares things to consider when managing your holiday spending.

The Canadian Press

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