Consumers faced with the high cost of living in Canada may be looking to cut back wherever they can — including activities like office Secret Santa, holiday parties and gatherings.
Whether it’s with family and friends or a workplace context, simply making an appearance can sometimes be a challenge if finances are already stretched thin.
But even if opting out entirely isn’t an option, experts say there are ways Canadians can try to limit the financial impact of those extra gatherings during the holidays if they’re feeling the pinch.
“The high cost of pretty much everything is putting us in a difficult situation where we have to make choices. We have to prioritize,” says Julie Blais Comeau, a workplace and business etiquette expert.
“We are now on the countdown — two weeks away from Christmas. So now is probably the time to pick up your courage, have those conversations. The earlier, the better to set the expectations.”
Pulling back on spending has been a general theme of Canadian consumers as high prices, especially for food, are eating into household budgets.
On Monday, the latest Consumer Price Index measured food inflation at 4.7 per cent in November — the highest monthly increase in almost two years.
A report from Bank of Montreal showed 41 per cent of respondents planned to spend less on holiday shopping this year.
Some analysts refer to the “k-shaped” income economy as lower-income households pull back on spending while higher-income households increase their purchasing power for luxury and other high-priced items.
As many holiday parties and gatherings involve bringing a gift, spending on a secret Santa or having a potluck assignment, they may leave some consumers feeling strained amid those broader economic pressures this year.
“When we are invited, whether it’s just a holiday cheer, an office function, going to the neighbours, or something with family, it’s always OK, and I’m going to repeat that — it’s always OK to say no,” says Comeau.
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“The most important thing is to RSVP in a timely manner. Then we want to be gracious and thank our host for inviting us. And we don’t always have to justify. It depends.”
When it comes to office and work gatherings around the holidays, those considerations can be trickier.
Depending on the circumstances, an office gathering may be about more than gathering for some food, drinks and holiday cheer.
“Office holiday parties sit at this weird intersection of professional obligation and personal finance,” says Shannon Terrell, a personal finance expert at NerdWallet Canada.
“When politely opting out isn’t an option, there are ways to participate in a meaningful way without adding to the already considerable costs associated with the holidays.”
With office gatherings, most workers will have a rare opportunity to spend time with colleagues in a non-working context while maintaining a degree of professionalism.
Matt Aldolphe, a workplace culture consultant, says these events can be both an opportunity to have fun but also act as a personal “investment.”
“It’s important to think about whether it’s also a good investment of your time. If this event is planned well in advance, you have a lot of opportunities to network, meet people in other parts of the organization, potentially have conversations with decision makers, with ideas that you have,” says Aldolphe.
“So before we go and say, ‘Wow, it’s a little too out of my price range. I don’t think I can attend it,’ maybe we look at it as a bit of an investment and maybe if you know ahead of time that this is going to happen and it really is important for your career growth within that organization, perhaps we can budget for it.”
Adolphe says part of the responsibility falls on the workplace to offer holiday events and gatherings that are accommodating and minimize the pressure on workers and make them feel comfortable.
“It’s always important that managers and leaders are in touch with their employees, knowing what they’re going through, listening to them,” says Adolphe.
“If things come up that are a little bit costly for people, the organization’s aware of that and they’re creating events and functions that people can attend without any stress.”
Adolphe also says that in a perfect world, most employers will lay the groundwork early on for employees to feel comfortable approaching their managers and leaders.
When these types of work environments exist for workers, then the most important thing, Comeau says, is to have these conversations early and in-person whenever possible.
“Most people will show that little element of vulnerability with their superiors or human resources. Most of them are very understanding,” says Comeau.
“And should you have to be absent for economic, personal (or) difficult situation, your boss is the person that’s going to protect you, and your reputation and your image.”
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