As the old saying goes, it’s better to give than to receive, but if you’re one of thousands of Australians up against credit card debt, this may not ring true.
The silly season is notorious for burning a hole in your back pocket, but you can avoid overspending and still enjoy the season.
Here’s some tips to help you shop smarter this Christmas:
1. Create a strategy
Carefully consider your budget and what you can afford after all of your expenses are taken care of. Make a list of the people you need to buy for, and set yourself a limit per person.
2. Shop in advance
Buying staple items such a mince tarts, panettone and fruitcake well in advance can relieve some of the financial stress of stocking up for lunch on the big day. Shopping at local farmer’s markets is a great way to save, and asking guests to bring a plate can relieve the pressure of producing an extravagant spread on your own.
3. Buy online
You can often find more variety and much cheaper prices online, if you know where to look. If you find an advertised item cheaper, see if a physical store can price match to what you’ve found online. Remember to factor shipping times into your purchases.
4. Make a donation
Not everyone appreciates material gifts. For kids, it’s nice for them to have something to unwrap under the tree, but for adults you may be better off making a donation to a charity in that person’s name and giving them a card showing what their donation went towards. Whether it’s giving access to clean water or a goat for a family, improving someone’s life is more important than giving away trinkets.
Christmas doesn’t have to be expensive. A little research can be the difference between a debt free Christmas and one that you’ll be paying off longer than you need to.
Source: Yahoo Finance