How can I keep my spending in check?
"There's so much pressure around Christmas - the presents,
the extra food, the family commitments... This year, I've decided
to budget for it. I've put aside a bit of money each week to
help me out come December." Nicci, Account
Co-ordinator
Christmas should be fun, not stressful. When you're battling the
crowds at congested malls, it's easy to succumb to temptation and
start over-spending, especially if you leave your shopping until
the last minute.
Be prepared.
Before you hit the shops, do your homework. Find out if
there are any sales on - this could help you reduce your spending
on presents.
Know your limits.
It's important to understand your shopping. Do you have a
tendency to blow your budget? Do you need time to think before
committing to a purchase?
By understanding how you spend your money, you may be able to curb
your over-spending.
Click here
to find out what
kind of shopper you are.
How can I keep track of my spending?
The solution is simple: create a budget.
Click here
for our guide to
creating your own budget.
Westpac's online calculators make budgeting easy. Simply fill in
your expenses and the calculator will work out how much you're able
to save each fortnight.
Click here
for
Westpac's budget calculator.
Westpac's hot tips for managing Christmas
spending:
- During the year, look out for specials or sales - this could be
the perfect opportunity to buy Christmas presents
- Put money away throughout the year to use over the Christmas
period. Westpac can make this easy: simply set up a savings
account with a regular automatic payment. You can give your account
a nickname, ie Christmas present fund. $10 a week = $520 a year -
you could have paid off all your Christmas presents before the day
itself
- Allow plenty of time to shop. Last minute shopping can often
end up costing you more
- If you're well-organised, a Westpac credit card could help you
manage your Christmas spending, and may offer you rewards for your
everyday spending.
Click here
for more information
on credit cards
If you're easily tempted, it might be best to leave your credit card at home and use another payment method like EFTPOS, cash or a Westpac Debitplus Card
- If you have a Westpac credit card with hotpoints® , you could redeem your points for rewards at Christmas time - there are plenty of great gift ideas plus a range of vouchers which can be perfect for the person who has everything.
Watch the video
Click here
to watch Nicci, Rae and Marina reveal
how they're getting sorted.
Getting sorted for summer
How to take the sting out of buying summer
gear
I'm going on holiday but my bills aren't -
what should I do?
Get organised with Westpac
Essentials
The content of Talking Money Sense is general in
nature, is designed for information purposes only and is not
intended to constitute financial or other advice. Information is
subject to change. Terms, conditions, fees and charges apply to
Westpac products and services. See
www.westpac.co.nz
or call into
your nearest Westpac branch for details. You can get a copy of the
current disclosure statement for Westpac New Zealand Ltd from any
Westpac branch in New Zealand free of charge. Westpac's current
credit card lending criteria apply to all applications and
transfers. hotpoints membership fee and terms and conditions
apply. hotpoints® is a registered trade mark of Westpac Banking
Corporation. Westpac New Zealand Ltd.
