Retail relief - how to make serious savings this silly season

Analaura Luna

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Most kids believe in Santa Claus – but most parents would really like to believe in the elves! Christmas is just weeks away, and we all know that we really should be getting ready for the festive season – but with seven official interest rate increases since October last year, the latest adding an estimated $90 per month to an average $300 000 mortgage, budgets are tight. Aussie shoppers are taking a cautious approach this year – a recent survey discovered that one-third of households plan to reduce their Christmas spending, and 57 per cent of respondents intend to spend under $500. It would be really nice if, like Santa, you could rely on a team of elves to put your Christmas shopping together free of charge, but since they’re all under contract at the North Pole, Australian families are going to have to find different ways to keep their Christmas spending within their budget!

Fortunately you don’t need a pointy-eared workforce to have a great Christmas that doesn’t leave you with any financial headaches. There are loads of ways you can get more for your money this Christmas … starting with these handy hints:

Make a list, check it twice
It’s reported that only 20 per cent of people plan their shopping trips, so it’s unsurprising that almost 75 per cent of shoppers end up heading home without buying anything, making Christmas shopping time-consuming and stressful – and if you haven’t got your family’s Christmas list in order it’s all too easy to go over budget. Your best saving strategy is to take a tip from Santa and plan ahead by writing lists, ‘window shop’ online to locate items you want at the best price, and save wasted trips by calling ahead to make sure that what you want is in stock.

Sleighs are great, but surfing’s better
It’s estimated that online spending will account for over $12 billion in retail sales in 2010, and with a strong Aussie dollar online saving rates are some of the best to be had. Shop safely by only dealing with reputable sites, remember to factor in shipping costs, watch the exchange rate on credit card purchases, and ensure that items you purchase will work in Australia (especially things like DVDs, games and electricals).

Go crazy for coupons
Google ‘discount coupons’ to find an incredible range of websites offering discount deals, online discount codes and vouchers delivering some of the best saving rates on all kinds of items, including loads of family holiday activities. Remember to check the back of your shopping dockets as well – they often have great local deals that can save you a bundle.

Shop anytime
A lot of the stress and expense of Christmas shopping comes from doing everything at the last minute. On Christmas Eve you might be prepared to pay anything to fill those stockings in time, but the items you’re after may have been available at a lower price earlier in the year. Keep an eye out for sales and special deals on things you know you’ll want to give at Christmas and stock up early to save your wallet and reduce your stress levels.

Bulk up
Presents are only one part of your Christmas expenses – you might be surprised how much of your budget goes on cards and wrapping paper, and how much more Christmas-themed items can cost. You can buy plain cards and wrapping paper from your local $2.00 shop and fill in your own messages – they’ll be more meaningful and free up more money to spend on presents. Another alternative to consider is e-cards – there are some great sites out there that let you create personalised e-cards, and even videos, for next to nothing (we found one site that offers 12-months unlimited use for under $15.00 – which is about the same price that you’d pay for two or three traditional cards and postage). If this is something that appeals to you, it’s a great way to save money and the environment at the same time!

Christmas is supposed to be a time to enjoy with your family, not the cause of a nasty budget blowout. By checking out all the options out there and always keeping your eyes open for better deals you can save yourself a fortune and help ensure that you have the merriest Christmas you could ask for. And if you’d like to write to Santa to ask if he’d mind letting you have the elves for a week or two – well, it couldn’t hurt, could it?

If you liked this article you might also be interested in these articles:

How to benefit from a strong Aussie dollar

Born to be financially free

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Tags: online discount codes, saving rates, best saving, online saving rates, best savings rates, money management

Author's Biography

Analaura Luna is an author, wealth adviser and founder of Your Family Your Money. Your Family Your Money’s goal is to simplify traditionally complex financial strategies, demystify financial jargon and debunk common financial myths, becoming every family’s first stop for financial advice, information and inspiration.

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