UQWellness eMag Nov 25 - Flipbook - Page 33
The Cost of
䌀栀ristmas
Research shows that
gi昀琀s are the biggest
expense, making up
around 40% of fes琀椀ve
spending, followed
by food and alcohol
(30%), travel (20%)
and decora琀椀ons or
entertainment (10%).
Worryingly, Finder
reports that around
35% of Australians put
Christmas expenses
on credit cards, with
many taking up to six
months to pay them o昀昀
— cos琀椀ng hundreds of
dollars in interest.
Overspending can lead
to 昀椀nancial stress, which
impacts mental health
and rela琀椀onships. The
Na琀椀onal Debt Helpline
o昀琀en sees a surge in
calls every January from
people struggling with
post-Christmas debt.
Common Christmas
Spending Mistakes
Impulse Buying
Leaving shopping to the last minute o昀琀en
means panic purchases and overspending on
items you didn’t plan for.
Not Se琀�ng a Budget
Without a clear limit, it’s easy to underes琀椀mate
how much you’re spending un琀椀l it’s too late.
Overusing Buy Now, Pay Later (BNPL)
Services
Pla琀昀orms like A昀琀erpay can be handy, but
mul琀椀ple instalment plans can quickly snowball
into debt.
Trying to Please Everyone
Buying gi昀琀s for everyone you’ve ever met can
blow the budget. Though琀昀ul doesn’t have to
mean expensive.
