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Make A List And Check It Twice Five Helpful tips to make your holiday shopping, not naughty, but nice

TORONTO, December 16, 2005 – If you want to ensure the “Ho Ho Ho” of holiday shopping doesn’t become an “Oh no no!” when January bills come due, follow the lead of most Canadians – set a budget. Last year, A Mosaik MasterCard Holiday Shopping Survey found that 52 per cent of Canadians polled established a holiday shopping budget. Of those that budgeted, almost half stuck to their limits or actually spent less than planned.

“If it’s worth doing once it’s worth doing twice,” says Mike Kitchen, Vice President, BMO Mosaik MasterCard, who urges shoppers to set a realistic holiday shopping budget. “Setting a budget and sticking to it,” says Kitchen, “is probably the single most effective way to avoid waking up to a post- holiday shopping hangover.”

Mr. Kitchen offers the following tips for this holiday season:

1. Get more bang for your buck – Overpaying is overspending. Comparison shop and look for store sales to ensure you’re getting the best price. Merchant ads and incentive promotions will help you build a shopping list of affordable gifts.

Even if you pay full price, you can maximize the value of your purchases by using a credit card that offers rewards for every dollar you spend. Some cards offer attractive ‘cash back’ options while others let you redeem your rewards for travel or merchandise. Mosaik MasterCard offers the best of both, with CashBack reward options and AIR MILES Reward Program options. With the AIR MILES options, cardholders can redeem reward miles not only for travel, but reward miles can be redeemed quickly and simply for movie passes, family attractions, CDs and DVDs, electronic merchandise, sports and recreation, travel and more. Any of these could make a great gift for family or friends.

2. Don’t get Scrooged– Shopping online can save you time and money, but stick to the reputable sites and beware of sites you don't know. Pay close attention to shipping dates and build in extra delivery time so you won’t be disappointed. For added protection, consider purchasing your gifts with a credit card that offers some form of insurance, which will cover you if gifts you buy get lost, stolen or broken.

3. Keep it simple – Stick with just one credit card. You’ll find it easier to track your expenses on a single bill at the end of the month. And if you’re a collector, putting all your purchases on a single card will help you reach your rewards goal faster and redeem sooner.

4. Paying the piper– January bills can bring February blahs. Don’t let interest charges on your credit card balances eat up your holiday shopping savings. Ideally, you should pay off your balance by the due date to avoid interest charges altogether. If you expect to carry a balance however, minimize your overall costs by making purchases with a low-interest credit card or by transferring your balances to a low-interest line of credit.

5. Protect yourself– Keep a copy of your credit card number and the contact information for your credit card issuer so that you can quickly report a lost or stolen card.

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Shoppers can get more out of their holiday spending by using a credit card with a loyalty rewards program, such as the BMO Mosaik MasterCard, which allows cardholders to double their rewards points when they shop at retailers who also participate in the AIR MILES rewards programme.