Money – We wish you a debt-free Christmas!

• 50 per cent of people spend more than they can afford, and 40 per cent of people have to use a credit card to cover the cost of Christmas spending.

• For 33 per cent of people, it will take six months to pay off their Christmas spending and 20 per cent of people will have trouble making mortgage or rent payments in January because of Christmas spending.

• Kids are given on average eight gifts besides what their parents give them, but 40 per cent of the toys are broken by March.

The Christmas season is one of my favourite times of the year. It’s a time to give, enjoy time with family and friends and for most, it’s usually followed by a few weeks holiday in the summertime sunshine. But if you’re not careful, Christmas can end up being a disaster for your family financially. If you don’t plan, it can end up leaving you with a pile of debt that you’ll be paying until the next Christmas.

Here are my 2016 top six Christmas money tips:
Combat the financial pressure this year by planning with these tips for early-Christmas savings.

1. Spread out your expenses. If you want bargains, now is the time to start your Christmas shopping.

2. Set your budget and don’t stray. It doesn’t matter whether your budget is $5 or $500, this tip works for all.

3. Make a list and check it twice. Make a list of everyone you need to buy for, the type of gift you would like to give and stick to the list.

4. Checkout coupons and discount vouchers. Lots of shops have specials in the weeks leading up to Christmas, however these all usually disappear a week before Christmas.

5. Buy secondhand. Buy from op-shops – there are quality secondhand bargains to be had everywhere.

And remember, don’t go into debt on Christmas spending. Debt brings stress and anxiety throughout the year. No-one who truly loves you wants you to go into debt for them.