Enjoy Christmas free of debt

December tends to put a lot of pressure on family budgets. Is it possible to get through the silly season and actually save money this year?
Uniting Care Queensland Child and Family Services has released its list of financial tips to help families keep debt under control this holiday season. UCQ Statewide Manager Financial Resilience and Wellbeing Service Jodie Logovik said feeling
the pinch at Christmas time was not uncommon.
“We always say, try to keep in mind that Christmas is just one day of the year and it’s about sharing time with family and friends, not feeling pressured into buying lots of things.
“There are several strategies people can employ this Christmas season to keep their spending in check and some great steps on how to still enjoy the festive season without taking on additional debt,” she said.
“You don’t have to buy someone a gift, make them a voucher for babysitting, mowing the lawn or washing the car instead – gifting your time can be more valuable than purchasing an unwanted gift.
“Setting up a Secret Santa within the family and buying non-perishable food items early will all contribute to creating savings at Christmas time but most importantly budgeting early will result in the biggest cost saving during what is a very expensive time of year,” Ms Logovik said.
UCQ Child and Family Services Financial Tips for Christmas:
* Think forward to February and how it feels to have not added to existing credit card debt.
* Remember, Christmas is about sharing time with family and friends, not gift giving.
* Plan ahead and early – creating a budget and following it will bring the greatest reduction in financial costs this Christmas.
* Consider starting a money plan and saving a small amount each week for next Christmas.
* Make a list of all the people you intend to buy gifts for and allocate what you can afford to spend on each as well as listing costs for food, travel and other expenses.
* Set up Secret Santa wherever possible or combine with others to purchase gifts, this will reduce the number of gifts you have to give.
* Give the gift of time – make a voucher to babysit, wash the car or mow the lawn.
* Set aside an amount for Christmas lunch and then ask all family members to bring a plate of food to share.
* Pay an extra $5 or $10 per week on your rent throughout the year, that way when Christmas comes around you are a week in advance and can use the extra rent money for presents.
Call Queensland’s National Debt Helpline on 1800 007 007 and speak to a UCQ Child and Family Services financial counsellor or make an appointment for a face to face meeting if you need advice about your financial situation.