The Ghost of Christmas Presents

Some of you will have already done your Christmas shopping, booked your flights and accommodation, or generally organised yourselves for the holidays.

To those that have, I commend you!

For the rest of us have yet to get our act together, time is ticking, and we better get hustling.

While we are hustling, let’s be mindful of the future, and not just the present….

Loads of Kiwi’s are still not saving as hard as we would like or getting on top of our debts like we hoped.

As a result, the holiday period will rely heavily on access to credit for many families in Aotearoa.

With a multitude of Credit Cards, Revolving Credit Facilities, Store Cards and Higher Purchase Facilities available, the list of ways we can get ourselves into debt is actually ridiculous.

While some of us will be reducing Christmas spending, roughly one third of New Zealand families will be using a Credit Card of sorts to fund Christmas this year.

I would ask everyone considering this, to take a moment and consider what 2025 will look like with extra debt on your back.

We all love to spoil our loved ones, and it is so easy to overspend, especially when you are running short on me to find that perfect gift. 

Travelling over the holidays is expensive too, and essential for some of us with family abroad or out of town.

If there are big purchases that cannot be avoided these holidays, reach out to one of the team here at DUX, we can talk you through your options and help you make sensible decisions.

Is increasing your debt to buy Christmas presents or a good idea……of course not!

But we all do it, so here are some tips and tricks to avoid some of that debt before it gets out of control.

·         Be honest with the family and set a realistic budget together.  

·         Make a list of all the essential purchases so you stay organised.

·         Set expectations with children and loved ones and don’t be afraid to compromise.

·         Secret Santa is a great way to set spending limits on gifts.

·         If you’re hosting this Christmas, get everyone to bring a plate.

·         Reuse old Christmas Trees and Decorations or get some second-hand ones, I’ll bet your Nanna has some!

·         Opp shopping and thrifting for plates and cutlery won’t add to the landfill either!

My focus for this Christmas…

The time with my family and making meaning full memories rather than short lived material things.

Remembering that there are loads of Kiwi’s struggling right now, and a little kindness goes a long way.

Shopping local where possible and supporting Kiwi owned businesses  

Please be careful with your finances these holidays, be kind to each other and travel safely.

Let’s catch up early 2025 so one of our friendly DUX Advisers can help you get that Christmas debt under control!

Otherwise, I wish you all a Merry Christmas and Happy New Year!