I spend too much at Christmas

LET’S GET PRACTICAL

After the tough year we’ve had, the temptation to throw caution to the wind and make this Christmas an extra-special celebration is understandable.

But Christmas can lead to a financial hangover in the best of years. The website estimated earlier this year that 37% of Australians, or more than seven million of us, kicked off 2020 with a Christmas debt hangover. Most of this was racked up on credit cards with their accompanying high interest rates and low minimum repayments, which can see purchases being carried into the never-never.