A cautionary tale
The Financial Grinch who Stole Christmas
CHRISTMAS is coming and, with it, comes Christmas cheer, time spent with family and friends and an abundance of food; leaving us happy and content in the moments of joy – until reality hits.
Once the festivities conclude and the silly season is over, we realise what we have done financially and Christmas remorse sets in.
Australians spend billions during the holiday season and a whopping 40 per cent of people use credit cards or loans to pay for Christmas presents. It is all too common to get caught up in the whirlwind of Christmas, then start the new year remorseful and in debt.
How can we cut down on spending and enjoy Christmas with a stocking full of presents – not debt?
Fabulous festive tips to get you through the silly season: Christmas lunch – not a four-week feast
Christmas brings an endless barrage of lunches, parties, gatherings and family get-togethers giving us plenty of opportunity to overindulge and stuff ourselves silly. To cut down on spending, make your own food instead of buying out if you’re asked to bring something and, if you’re hosting your own lunch, remember that it is just that – lunch; not a feast with enough food to last you into February.
Festive trimmings – re-use and upcycle
Each Christmas we are treated to a never-ending supply of new decorations and trees, tempting us to forsake the perfectly good decorations and tree we have at home. Instead of buying new decorations, try making your own or upcycle old decorations into something new. School’s back in January
Have your future self thank you by preparing back-to-school lists now and putting aside funds to pay for books, uniforms and fees.
Having fun doesn’t need to cost $$$
During the Christmas break there is always an abundance of activities to do and places to visit that are free; hiking, art galleries, farmers’ markets, beaches, lagoons, parks, museums – where possible, take your own food and drinks to save even more money.
Make a list and check it twice
Write down a list of people you plan to buy gifts for and how much you want to spend. Use cash to keep your spending within your budget. Look online to find the best prices or get creative and make your own gifts.
Be festive within your budget.