Christmas is commonly referred to as the silly season. And afterwards when are tummies and full and families happy with their gifts, we might feel silly for having spent so much money celebrating. Each year Australians spend billions of dollars for Christmas and a lot of this is spent on credit cards which start attracting interest when bills aren’t paid in full in the New Year. However you can manage how big your bills are taking into account the following simple recommendations that can hold you in check, while still enjoying your Christmas with your friends & family.
1) Set a Christmas Spending Budget
It’s the obvious thing to set a total, maximum budget that many of us don’t do. If you apply a budget, for example for maximum amounts to spend on gifts or the total amount you’ll spend on food & drinks, you will be more likely to spend around that amount. Not having a budget essentially means you go into the Christmas period with an ‘unlimited’ amount to spend. And this can sometimes land you in trouble afterwards with less savings and/or a big credit card debt.
2) Avoid Going to the Shops
If you find it difficult to resist going overboard when you are out shopping, then consider doing all your Christmas shopping online. While, yes, its exciting to get caught up in the atmosphere of Christmas in the busy cities and towns however there is also a lot of marketing going on to encourage you to buy more.
Buying things online reduces the temptation. You will find yourself searching for the gifts you really want for others and don’t end up spending on other things. Its also a lot more comfortable to shop from home and have all your items delivered by Australia Post.
These simple two tips could help you save this Christmas, while still enjoying yourself and sharing all of the joy with your friends and family. It will also help for the joy of this fun time of year not turning into a debt hangover and regret when the New Year arrives shortly after.
If you do find yourself in big debt after Christmas, don’t worry there’s options for you and you’re not certainly alone!