More jingle, less juggle, this Christmas

Author: ME

Published at: 1/19/2017 2:36:19 PM

More Jingle Less Juggle

Manage spending wisely this Christmas to avoid juggling New Year debt.

A merry Christmas doesn’t have to leave you out of pocket. Take a look at our quick tips to enjoy the festive season jingle without hitting next year strapped for cash.

Double the struggle to repay debt

Getting caught up in a spending frenzy at Christmas could leave you financially skewered, and for some Australians the risk of festive season overspending poses serious side effects.

According to our latest Household Financial Comfort Report, 65% of the nation’s households have outstanding debt, and one in ten don’t expect to be able to meet their minimum repayments in the next six to 12 months.

So it’s worth trying a few simple strategies to navigate silly season spending.

Get cracking!

Don’t leave your festive shopping too late - the early bird always picks up the best bargains. Draw up a list of those you plan to buy gifts for, allocate a value for each gift, and aim to stick to it.

DIY gifts can say plenty

Homemade gifts like a prettily wrapped box of cookies can show more thought than store bought items, and they’re far kinder on your wallet.

If crafts aren’t you’re thing, offer your time. Give your sister with the new baby a voucher for free babysitting (what a chance to bond with the latest family member!). Or give Great Aunt Ethel a voucher for free lawn mowing. She’ll be delighted.

Check your credit card is up to the job

Check too that your credit card is up to the demands of Christmas. Credit cards can be very handy over the silly season, letting you score discounts at online stores, or provide gifts that just aren’t available in high street outlets.

But do check you’re paying a low rate and zero annual fees. It’s a great way to keep your finances out of the red and in the black this Christmas..