Christmas tips
Smart money tips for the silly season
With Christmas and the summer holidays just around the corner, now is a good time to start planning ahead and preparing for the silly season.
Spending
To help you avoid the financial hangover of credit and debt, and to possibly benefit from the Christmas season, try these tips:
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Plan ahead
- Write a list of presents/people to buy for, to avoid impulse buying
- Start saving now for that Christmas present
Do you really need to use credit?
- Avoid credit if you can by using lay-by
- If you need to use credit, shop around for the best deal first – you could save a lot with lower fees and interest
Consider other members of your family
Working
Are you doing casual work over Christmas, or taking on extra hours in your existing job over summer? If so, boost your long term savings by checking your eligibility for super contributions from your employer.
Find out more about super entitlements for casual and part-time staff
Travelling
Planning an adventure holiday? Make sure you're familiar with the terms and conditions of your travel insurance policy in case the unexpected happens.
Read more about what to look for in a policy and common reasons why travel insurers deny claims
Planning for next year
After Christmas in 2009, you might like to consider how you can be better prepared next year by starting well in advance. Things you might like to consider include:
What will I be planning for?
It could be a holiday, a more expensive gift, or shopping in the post Christmas sales, whatever your goal, it pays to plan ahead so you're not out of pocket when Christmas comes around again.
Draw up a budget of what you can afford and stick to it. See FIDO's budget planner for help.
How can I increase my savings?
Shop around for a savings account with lower fees and higher interest. It may mean you can't withdraw funds until Christmas, which gives you more incentive to concentrate on your goal.
For more tips see Managing your money
FIDO Website: Printed 03/16/2010
