Did you know that most Aussies will spend well over $1,000 during the Christmas period? A cash loan can be a financial lifesaver for many Australians during this festive season.

After buying all of the presents and food, suddenly most of us are confronted with the fact we have spent more than we can actually afford. Sadly, we are then faced with a Christmas “debt” hangover because we have turned to credit cards to help us get through, and then struggle to pay them off. See below for another scary Christmas statistic…(sorry to sound a bit like Ebenezer Scrooge) but don’t worry, we have also provided some helpful tips to hopefully prevent you getting the dreaded Christmas financial headache! SCARY STATISTIC 60% of 35 – 64 year olds are worried about their financial situation. But despite this, over 40% of 35 – 49 year olds will use credit to cover expenses they couldn’t afford and over 25% of 50 – 64 year olds will also use some form of credit. So what can we do to try and avoid over using credit during the festive season? Here are some idea’s:

  1. Set a budget and stick to it.
  2. Do not leave gift buying to the last minute as it often leads to “panic” spending.
  3. Use the Kris Kringle approach to present buying so you only need to buy a few presents rather than one for every family member.
  4. Remind yourself that everyone is in the same boat! If you are worried about what someone may spend on you, be upfront and ask if you could agree on a spending limit.
  5. If you do need extra cash, consider a personal cash loan rather than a credit card.

We are all guilty of getting caught up in the “hype” of Christmas and wanting to give grand presents like ipads, bose stereo’s and diamond jewelry – but if we cant afford them, they are just not worth the financial stress. If you have already over committed this year, and are dreading the next credit card statement, here are a few ideas to help ease the pain!

  1. Face up to the debt head on, and start planning your strategy for paying it off.
  2. Consider selling a few items you no longer need/use to pay off the debt.
  3. Set up a direct payment from your pay so you know a set amount is definitely getting paid before you can get your hands on it!

If the debt is too overwhelming, then consider taking out a cash loan to clear the card (and close it!) With a cash loan from us, we can arrange affordable payments over a short term so you can get it paid off quickly and not have the temptation of continuously “redrawing” like you have with a credit card. So there you have it! Some great tips on how to try and avoid the Christmas “debt” hangover….now does anyone have any ideas on how to avoid the Christmas “champagne/beer/eggnog” hangover??! Merry Christmas Everyone!

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