Enjoying A Debt-Free Christmas

Less than four weeks until Christmas may seem a long wait for kids, however for adults it will be there before they know it.


The great news is that there is still some time to get things organised so budgets are not missed. Doing it late can result to impulse buying and stress.


Australians are going to splurge 9.77 billion dollars on their Christmas gifts this year which is up 28% from 2015. This is according to a 2000-person survey done by Finder.com.au, a comparison site. Each person is set to spend $539 on average, and this is up from 2015’s 419 dollars.


It will not just be about gifts only. There is also food and alcohol for entertainment, decoration, new clothes for Christmas parties in Sydney or anywhere in the country, and the summer holidays after.


A money expert from Finder, Bessie Hassan says that the since unemployment is at its all-time low in the 3 year period and the interest rates are at its lowest too, the Christmas shoppers are feeling the confidence. She adds that this should also not be the reason why shoppers are bamboozled by the hype and sales prior to Christmas.


Experiences are important


Santina Gambrill does most of her family’s Christmas planning and shopping. She buys gifts at sales. She also likes using a lay-by for her to manage cash flow.


Lay-by is where a person continuously pay the price in a 12-month period. The product is then taken into possession after the final payment is done.


She and her husband Aaron try to not spend too much. Aaron mentions that he has 19 nephews and nieces in his extended family. For him, there is that understanding among parents to not overspend on gifts too much.


Budgeting tips


Early preparation gives one a better chance to stick to a budget. When a person knows which gifts to buy and there is time, he or she can take advantage of the pre-sale opportunities.


David Rankin has a financial coaching service named Sort My Money and expresses how it is truly important to allot money in advance to be used during the most expensive time in the year.


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