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6 ways to shop smarter this Christmas

6 ways to shop smarter this Christmas

The Australian Retail Association predicts Australians will spend $48.1 billion in retail stores this Christmas. If trends are correct, this is a 2.3% increase on last year. We all want to spoil our loved ones and show them how much we care, but it’s important to remember that once the holiday season is over, it’s time to face the debts and bills. Plus, if you go too berserk you’ll have no money left for those awesome Boxing Day sales!

If you’d like to stay out of debt this Christmas and cruise into the New Year feeling good about your finances, here are our tips to save money on your Christmas shopping.

Pay cash

Sometimes it’s hard to feel accountable for the money you’re spending when swiping plastic. It’s easy to lose track of how much you’ve spent and go over budget.

Instead, keep track of your money by paying in cash, you’ll probably be more frugal and find it harder to let go of those notes when shopping for presents.

Write a list and stick to it

Spur of the moment, unplanned shopping trips are the worst! Not only are you in a mad panic because you don’t know what to buy, you’ll often purchase gifts way out of your budget. Decide on a budget, and stick to it.

Prepare a list of the people you need to buy for this Christmas, allocating ideas and a budget to each individual.  That way your spending will be less spontaneous and more controlled.

Avoid the Christmas Eve rush

Give yourself enough time to shop so you can search for the best deal. If you leave your Christmas shopping to the last minute you risk running out of time and paying too much for your goods. Plus, we all want to avoid the shopping centre crowds in the days leading up to Christmas!

Shop as you go

There’s no need to leave all your Christmas shopping for one day. Rummage through the catalogues, wait for the sales and buy as you go to save money on gifts.

Shop local

Visit your local markets to shop for presents this Christmas. Markets are often much cheaper than your standard retail outlet or shopping centre, and you could walk away with a unique gift that your loved ones will adore, for half the price.

Secret Santa

We may all be a little scarred from the good old $5 work secret Santa, but it doesn’t have to be that cringe worthy. Talk to your family and decide on a budget. Everyone only has to buy one gift each and it takes the hassle and expense out of Christmas shopping.

In the end, buying Christmas gifts isn’t about how much you spend, but how much thought you put into it. Often simple gifts can mean the most. If you would like the Finance Detective team to help with your budget this Christmas, call us on (08) 9289 7777.