Finder makes money from featured partners, but editorial opinions are our own.

How to avoid a Christmas debt hangover


11% of us are putting our holiday shopping on plastic.

It's the most wonderful time of the year—but it isn't cheap.

Australians will spend $30 billion this festive season.

How will we fund that?

Almost half of us (49%) are organised enough to pay for holiday spending using our savings.

But some of us are going into debt instead.

Concerningly, over 1 in 10 of us will rely on our credit cards to cover holiday season costs, Finder research reveals.

How will you primarily pay for Christmas?

Credit card11%
Buy now pay later (e.g. Afterpay)7%
I don't plan on buying anything27%
Personal loan3%
Refinancing my home loan1%
Other 2%

Another 7% will use buy now pay later to fund seasonal spending, while 27% of us claim we're not buying anything at all this Christmas. I am not sure I believe all of those cheapskates.

Incurring high-interest debt to fund presents and food is never a good idea.

If you took a year to pay off the average Christmas spend of $1,479 on a credit card at typical interest rates, you'd rack up $148 in interest charges.

Wouldn't you rather spend that money on yourself?

Keeping your holiday costs under control is ultimately a question of being organised.

Take advantage of supermarket specials so your food spending doesn't spiral.

The end-of-year break is also a great time to review all your expenses and find savings for the year ahead.

Easy switches such as changing to a cheaper mobile plan or getting a better deal on car insurance can save you hundreds of dollars.

Get more helpful money tips to help you save.

Image: @kikiyam001 via

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site