Australian Attitudes Towards Spending Over Christmas Have Changed

Post by Sharat on December 21, 2017 · Under News · Comments Off on Australian Attitudes Towards Spending Over Christmas Have Changed 

Christmas is supposed to be the season of giving, but according to the results of a recent survey conducted by ME Bank, most Australians are not actually that enamoured with the idea of purchasing presents for others and seek to manipulate the gift giving process. The survey found that approximately half of all Australians have no problem with obtaining a refund for a gift they have received only to purchase the same item back again when it is on sale and pocket the profit!

Avoiding gift giving

A third of all Australians say it is perfectly acceptable to avoid family and friends during the Christmas period because it means they are not required to buy gifts for anyone. Experts say rather than being Scrooge like, most Australians are simply trying to avoid generating a huge hole in their personal finances as the new year begins. ME Bank says the survey results show that the financial pressures associated with Christmas could well be influencing how prepared Australians are to bend the rules regarding gift giving.

Saving money

A whopping 83% of Australians says it is perfectly fine to not purchase any Christmas presents at all in order to save money. Its no secret that Christmas is an expensive time of year and it can be testing financially for many families. In fact, some studies suggest that as much as $30 billion of credit card debt is accumulated over the course of December. The average Australian usually ends the Christmas season with a $3,700 credit card balance so it is hardly surprising that most people have started to rethink how they spend their hard-earned money over the holidays.

Value for money

You should thing about every gift you place under the tree and before you put a purchase on your card you should ensure you are getting value for your money especially if you are paying it off over the course of a few months because you will also be paying interest as well.

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