How much do we really spend at Christmas?
30/11/2016 by the Power2 team
How much do we really spend at Christmas?
The following infographic provided by Moneysmart, a website run by the Australian Securities and Investments Commission (ASIC), looks closely at spending during the festive season:
Average Christmas spending on gifts (1)
NSW – $548
WA – $435
QLD – $408
SA – $405
VIC – $401
Avoid the Christmas debt hangover
Join the Christmas budgeters (1)
57% set a budget
4 in 5 stuck to it
How people pay for Christmas presents (2)
60% – savings
20% – credit card
10% – borrowed money from family and friends, used their bonus or tax refund
10% – lay-by
Most people pay off Christmas credit card debt (4)
80% – pay it off in 3 months
11% – pay it off in 3-6 months
7% – pay it off in 6 + months
Cashed up kids (3)
9 out of 10 children received some cash as Christmas presents
How much did they get?
22% got $50-100
20% got $100-$200
22% got $200 +
How wisely did girls spend it?
45% – banked it
40% – clothes
29% – saved for big item
22% – music
20% – going out
How wisely did boys spend it?
45% – console games
43% – banked it
31% – saved for big item
24% – computer games
22% – other games
Sources:
Commonwealth Bank, Survey of Australian consumers Christmas spending – December 2014
ASIC’s MoneySmart poll, 1,985 votes – December 2014
Roy Morgan, Aussie kids cashed up after Christmas – January 2015
Finder.com.au, Christmas Debt Survey – December 2014