Easy ways to lower your Christmas spending splurges this year

BUYING Christmas gifts can be stressful but there is some festive etiquette that is OK to ignore.

SAVVY shoppers say avoiding family and friends until after Christmas just so they can snap up cheaper presents in the Boxing Day sales is absolutely fine if it means spending less.

And two in three Australians think there’s no harm down in regifting unwanted presents and handing them onto others because they simply don’t like what they received.

Lender ME’s Christmas Money Manners research has also found most people think asking for cash is absolutely fine instead of getting a present you don’t really want.

Rising cost of living pressures, particularly escalating power bills, has put extra budgetary pressures on families ahead of Christmas, but ME’s spokesman Matthew Read said there are ways avoid a budgetary blowout.

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Lender ME’s spokesman Matthew Read said some people are prepared to back Christmas present protocol.

“There are ways to get through Christmas and not get into trouble with those social faux pas that people could do,’’ he said.

“Saving ahead of time and setting limits on how much you want to spend is a good idea and keep in mind that the right present for the right person is always better.”

AMP financial planner Dianne Charman urges Aussies not to forget Christmas “is just one day and not a four-week feast” and to tell the truth if you are regifting a present.

Australians are being urged to watch their spending this Christmas period.

“Be honest about it otherwise it takes the fun out of Christmas and it can end up being a real fizzer,’’ she said.

Mother-of-two Lauren Sammartino said she’s always on the hunt for gifts throughout the year and often snaps up bargains in the Boxing Day sales for gifts for the following Christmas.

“I buy my presents through the whole year for the kids and it means I’m not spending all at once near Christmas,’’ she said.

“And with so many sales like the Black Friday sales and Click Frenzy deals I wait for those and purchase the last of what I need to in sales because the pre-Christmas sales are good.”

While she said she’s never regifted items, her family do Secret Santa for the adults to keep costs down.

Regifting presents can be problematic if you get caught out.

Financial Counselling Australia’s chief executive officer Fiona Guthrie said the National Debt Helpline which assists people with financial woes goes quiet in December before “all hell breaks loose in February.”

“The cost of electricity and gas has increased significantly and incomes have stagnated so something has to give,’’ she said.

“We will see a big spike in January and February of people needing help once people go back to school and credit card bills roll in.”

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AVOID A CHRISTMAS SPENDING BLOWOUT

1) Write a list of people who you are buying presents for.

2) Set a limit on how much you will spend.

3) Work out if you can do Secret Santa among family and friends.

4) Do your research before you buy to find the best price.

5) Look for discounts and specials to reduce your costs.

6) Try and pay with debit not credit.

7) Don’t leave it to the last minute as you’ll be likely to spend more and buy in a rush.