Saving for Christmas?
Christmas is such an amazing time of the year, whether you celebrate Christmas religiously or just enjoy the time off with family and loved ones. As a financial adviser, it really bothers me that Christmas can be a financial strain for some people. What should be a special time with family and loved ones shouldn’t be delaying us from reaching our financial goals. According to a 2017 survey by comparison site Finder, 1 in 6 people who used credit for Christmas purchases will still be paying it off 4+ months later. That’s nearly halfway to the next Christmas!
I’m a firm believer that family and friends who love you would not want you going into debt to fund their Christmas presents. I’m also a firm believer in the value of spending time with those that you love while you have the opportunity. Christmas shouldn’t break the bank – the financial planner in me cringes at the thought that it could. At Genki Finance we’re all about financial wellness, and going into debt over Christmas and waking up in the New Year with a debt hangover is definitely not
what we consider to be “financially healthy”.
So please carefully consider your priorities and financial goals this Christmas and get your Christmas budget organised early – and then stick to it! Perhaps consider discussing Christmas gift arrangements with family, or maybe there are some ‘outside the box’ Christmas gift ideas that would cost much less but be just as appreciated. It’s quite possible that in the future your loved ones won’t remember the things you gave them, but rather the time that you spent with them.
Wishing you a stress-free and budget conscious Christmas shop.
Alison Kaigan - Your Canberra Financial Adviser
Source: Finder reference