Is Financial Anxiety ruining your Christmas Season?

It’s close to Christmas now and we’re all immersed in the season of parties, excess food and drink, and present buying. It all sounds jolly and festive – but for thousands of Australians every year, Christmas is a time of intense anxiety and worry.

The price of Christmas has been rising steadily – with increased food costs, an increase in extravagant gifts and raised expectations around the season in general. So how are you dealing with the extra costs of Christmas, and what can you do if you find yourself unable to keep up?

The cost of Christmas

Did you know that Australians are predicted to spend over $11 billion on Christmas gifts this year. With an average of $593 per person, the cost of Christmas certainly isn’t one that you can easily budget for.

One of the most useful things you can do is to work out (in advance) exactly what Christmas is due to cost you. Write a list of what you need to buy – including everything from new outfits, festive food and drink to those all important presents. Try to estimate roughly how much each will be so that you have a clear idea of what you’ll be spending ahead of time.

Planning ahead

Christmas comes around every year, yet every year thousands of Australians have sleepless nights wondering how they’ll pay for the festivities and how to satisfy their loved ones with the best celebration and the type of gifts they want to buy them.

One of the best things you can do is to plan ahead. Saving a little extra money each month can really mount up and make this time of year that little bit easier. Many people like to make homemade gifts or offer experiences instead of having to spend on expensive items.

Not everyone has the luxury of having excess funds around Christmas and can get caught in the trap of getting a personal loan or credit card to survive the holiday period. We can assist to make sure you are structured correctly with your loan and give you the solutions and tips to clear your debt faster.

Speak to Positive Lending Solutions about how we can help you decide whether this could be the best solution for you.

Don’t overstretch yourself

If you’re anxious about the cost of Christmas, it’s easy to get carried away and overstretch yourself – promising that you’ll deal with the consequences in the New Year.

It’s essential that you don’t spend more than you can afford – whatever the expectation of friends and family. You need to stick to your budget even if this involves difficult conversations or having to turn down potential Christmas dreams that you may have had.

Borrowing money that you can’t pay back in the agreed loan term could lead to this affecting your credit rating. A low credit score can make future borrowing difficult so don’t put yourself in this position simply for the sake of having a few more presents under the tree.

We listen to your situation

We understand that Christmas can cause huge financial anxiety and we always want to make sure that our customers are comfortable and confident if they decide to take out a loan with us. Ultimately, our goal is to to provide hope and reduce anxiety for our customers.

Lauren, one of our specialist personal loan managers recently helped her client Karen* with a very difficult situation.

“Karen had recently been through a separation and decided to move interstate. She needed to put up funds for rental bond as well as purchase a new car. I could tell how difficult this was for her and I was really trying to help reduce Karen’s anxiety through the process. I really felt for her.”

Karen was so impressed with Lauren’s work that she was compelled to share the story with our CEO.

“I’m so impressed with the way Lauren handled the situation with such empathy and a sensitive touch. Unfortunately, Karen’s story is not uncommon and we strive to help as many people in Karen’s situation, particularly at this time of year.” Tom Caesar, CEO.

Find out more

We provide our customers with access to a wide range of lenders to help find the best lender for you, if this is the right decision. Often just asking for expert help and talking through your circumstances can mean that you’re likely to save yourself time, money and a great deal of unnecessary stress over the Christmas period.

From all of us at Positive Lending Solutions, we wish you safe, happy, cheerful and stress free Christmas.

*Karen is a fictitious name used to protect the confidentiality of our customer.