Creditcard.com.au Shows How to Avoid Financial Stress this Christmas

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Too soon to think about Christmas? Not for those who plan to avoid financial stress for the holiday season. A national poll shows that with more Australians facing greater financial stress this year, almost half are going to keep Scrooge at bay by spring cleaning their personal finances now.

Greater personal debt levels threaten Christmas good times this year for an increasing number of Australians. More than a third of nearly 4,000 respondents in a national poll say they are facing greater financial strain than last year. Almost a quarter are settling for basic 2012 Christmas celebrations; 15 percent will do without a holiday; 20% anticipate a nightmarish January when the credit card payment falls due.

Reasons for the gloom: surging energy costs (17 per cent); spiralling food and drink costs (15 per cent); too many presents to buy (13 per cent) or the credit card had “maxed out” (11%).

Bright spot in the survey was how people will try to spring clean their personal debt to prepare for Christmas:

  •          Start a Christmas budget now – nearly 50%
  •          Pay down their credit card balance between Spring and Christmas - 30%
  •          Buy Christmas presents from the “Daily Deal” online discount sites – 42%

The survey was conducted by credit finance comparison site Creditcard.com.au, part of one of Australia’s longest serving credit card and consumer finance information resources, Credit World Pty Ltd, set up in 2005.

Founder and chairman Roland B. Bleyer said: “The pressure on personal finances really heats up as Christmas gets closer. Thousands of credit seekers visiting our site want the best credit deal that suits their personal needs. We have added an educational tool: our Spring Clean Pledge action listing some smart ways to keep Scrooge at bay.” Reference: http://www.creditcard.com.au/

The poll revealed that only 11% intend to use online budget tools such as the one offered on the ASIC-backed MoneySmart website. Bleyer said: “That was disappointing. More people should use this excellent resource. We have listed it as one of our pledge actions. Creditcard.com.au has a simple message: act now and spring clean your personal finances in time to have yourself a merry Christmas.”

For further information contact:
Roland B. Bleyer: roland(at)creditworld(dot)com.au OR
Brian Twomey: brian(at)creditworld(dot)com.au
61 2 9518 8177 Mob: +61 414 783 799

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Roland B Bleyer

Brian Twomey
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