10 Ways to Curb Your Christmas Spending

Ah, Christmas. That fabulously festive holiday where we gather with our friends and family and celebrate the joy of sharing with others. Regardless of how you choose to spend your Christmas, there is a good chance that you will be captured by the merriment of the season and find yourself over-indulging in drinks, food and gift-giving. Even if you think you can afford to be a little looser with the spending, chances are that you will still spend more than you intend.

Estimates out of ING bank showed that Australians spent over $400million on unwanted gifts during the 2018 holiday season. Topping the list of undesirables were novelty gifts, candles and underwear! So, let Premier Spending Planners save you from being THAT person this year. Here are our top ten ways to curb your Christmas spending this season:

  1. Write a list of who you are buying for and put a dollar value on the gifts. Think of this as Santa’s naughty and nice list. Not everyone has to get the same amount spent on them. 
  2. Shop around and don’t forget to haggle over the price. Many retailers will do a price match, particularly if you are purchasing more than one item in their store.
  3. Be aware of retailer ‘marking items down’. Just because they say items are on special, doesn’t mean they are.
  4. Try to avoid shopping sprees! This is the quickest way to get caught up in the gift-buying fever. Spreading the gift buying out over a few weeks will save you from impulse ‘momentum buys’, and it will save you stress.
  5. Speaking of impulse buys, allow us to remind you to Stay Strong! Retailers are smart and will work hard to trigger a consumer’s impulse buys, so avoid the pretty, well-lit displays and stick to your list.
  6. Make a deal with whoever you can to not buy for each other, i.e. only buy for your nieces and nephews, not your siblings. Believe us, they will be just as relieved as you by the suggestion.
  7. When buying online, factor in shipping costs. The $5-$10 may seem small but accumulated over several purchases, shipping can come back to haunt you.
  8. Don’t be ashamed to use coupons. Check the back of your supermarket receipts for deals.
  9. Think about personalised gifts. A thoughtful gift is often far more appreciated than an overpriced ‘gimmicky’ gift. And, as people get older, they usually welcome practical gifts. i.e. if you know someone who just purchased a house, why not buy them a voucher for a pest spray or air-conditioner clean?
  10. Don’t send yourself into debt just to impress people with gifts. This goes for your credit card as well.

 

Sticking to your guns by not getting caught up in the gift-giving frivolity will help you save money for the more important things during the holiday period, like entertaining the kids! And, it will also save you stress and help you avoid the Christmas present hangover. 

 

Curb Your Christmas Spending!

If you need help with compiling your spending budget, or simply need a coach to help you stay on track, get in touch with Premier Spending Planners.

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