Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 9 December 2022. This week’s topic for discussion is one that everyone can take something from. As we approach Christmas, retailers help us all turn their attention to gift giving. And with high inflation rates this year the cost of Christmas shopping is higher than usual. This weeks topic is: How to spend money through Christmas, without blowing up your budget.
Key topics covered include:
- No one wants to start 2023 with a large Christmas debt
- Just like any significant purchases, with Christmas shippoing you need a plan
- There’s nothing wrong with asking someone what they want, to avoid wasteful spending
- Gift cards are great, they allow the receipt to buy what they want
- If you want to control spending, go shopping with cash and leave the cards at home
- At all costs, avoid buy now and pay later and short term lenders
- As a family, make a rule not to buy adults presents, leave presents for the kids
- Remember the current environment, rising interest rates and inflation are still going to probably be issues next year
- How to use credit cards effectively
- Make good use of offset accounts as the interest rates are typically cheaper than credit card rates
- Use your frequently flyer points to buy gifts
- Keep your receipts from Christmas shopping
- Luke shares his top tips on getting through Christmas financially fit.
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Do you need financial advice to help you reach your goals?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Make an appointment to confidentially discuss investment, super, insurance and/or retirement planning. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcasts on our website too.
We look forward to your company again and sharing more news about the book that’s coming in 2023!
