Avoiding Debt Regret in January

Posted by Rob Chaloner
Fri 04 Dec

Rob Chaloner

When the silly season comes to a close, there's one headache you don't want to wake up to – the post-Christmas financial hangover.

The festive season always seems to sneak up on you, but that doesn't have to mean scary surprises when your credit card bill comes in January. Here are a few tips to manage your money wisely.

Write a list and set a limit on how much you'll spend per gift

When your Christmas shopping list includes buying for everyone from your mum to Aunty Susan you see once a year, it pays to plan your spending well in advance. If you have a list of what you want to buy, or a limit for each person, when you eventually brave the crowds at the department stores you can get in and get out with as little fuss as possible - and without having to fear looking at that receipt when you get home.

Start saving early

One paycheque won't cover presents, the Christmas ham and the tree, so start putting a little bit away every week a few months in advance. Then when December hits you know how much you have to spend, and won't be lured into putting it all onto the credit card and letting 'future you' have to deal with it.

Shop around

Use the power of online shopping to your advantage and shop around the web for the best deals on your Christmas presents. When you shop online, you won't be pressured by the shop assistants into making a purchase, plus you'll have it delivered straight to your door. No searching for a car park or wrestling for the last Frozen DVD for your niece.

Use your creativity

Not everything has to come from a shop this Christmas. Sometimes when you make your own presents it can mean a whole lot more to the ones you love. Frame a family photo for your mum, or get your kids to make the Christmas cards for the relatives.

Boxing Day Sales

Not seeing someone till after the big day? Use the Boxing Day sales to your advantage. The price drop and sales on Boxing Day can save you a heap! Or buy small gifts to open on Christmas Day and save buying the bigger ticket items until Boxing Day – it will seem like the gifts just keep coming for you and your wallet.

At stratton, we know the value of shopping around. We've found great deals on finance for over 60,000 people just like you. We can access great rates and a range of finance options from our panel of lenders.

If you're shopping for a new car, boat, motorbike or other present that won't fit under a Christmas tree, kick-start some smarter money management this holiday season – speak to a stratton consultant on 1300 STRATTON (1300 787 288) or submit an online enquiry to discuss your finance options.

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