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NewsHow to Avoid Christmas Debt

How to Avoid Christmas Debt

It’s finally December and that means one thing: the holiday madness has begun!

According to a recent article, the average holiday shopper plans to spend $776 this year, but it is possible to get through the holidays without it breaking your bank.

Here a Few Tips on How to Avoid Christmas Debt

Price Comparison Shopping: One of the easiest ways is to Google Search what you’re wanting to buy and let Google Shopping do the comparison for you. You can see the lowest prices on the item(s) you want all in one place. There are a multitude of other comparison apps and comparison shopping engines. Find one that you like and shop smart and hopefully cheaper.

Reduce Your Spend: We all pay for the price of convenience be it pre-cut fruit and veggies that cost more than the uncut version to the lazy man’s home food delivery, UberEats. Both conveniences can drain your budget quickly. Did you know the average food order for UberEats is $36.50? If you do this once a week, you’re spending $1898 a year. Think of how much you could save by cutting this cost down to once a month. There is also your daily coffee spend, but if you can’t begin to think of sacrificing your daily coffee, cooking your own meals could save you cash.

Make Extra Cash: Those gently used clothes, antiques collecting dust and more can easily be turned into cash by selling them on Gumtree or having a yard sell. If parting with your items is an absurd thought to you, join Airtasker and get paid for doing odd jobs that others can’t or don’t want to do. If you are heading off for the holidays, you can also consider renting out your place on Airbnb or advertise your pet sitting services on Mad Paws.

While we know the old adage of don’t spend more than you have, when it comes to Christmas giving, we all sometimes all give more than we should, but if you can, at least be smart and try not to spend beyond your means.

Any advice contained in this article is general in nature and does not take account of your particular objectives, personal circumstances or needs. If in doubt about your own situation you should seek appropriate advice.

Have a tip to avoid Christmas debt? Leave a comment below.

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How to Avoid Christmas Debt

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Brendan
Brendan from NSW commented:

The easiest way to avoid credit card debt for Christmas is to include those additional expenses in the annual budget. Of course, this requires that you actually have a budget and a special savings account into which you put a budgeted amount each payday. 

Brendan
Brendan from NSW replied to Brendan:

I am NOT Brendan! When will this site finally work out to use the CORRECT names of their members instead of picking incorrect ones! 

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