A whopping 71% of kiwis agreed that Christmas is getting more expensive every year and for half (50%) of the population, this time of year makes them feel financially anxious.
A recent study by Opinion Compare recently revealed some interesting numbers about how New Zealanders feel about Christmas, especially when it comes to money, debt and shopping for gifts.
11% of the population will go into debt as the only way to pay for Christmas expenses with an additional 33% of people using a combination of debt and saving to get by.
Opinion Compare delved into the predicted and actual spending on the festive season and it’s expected that the average total cost of Christmas this year will be $1,121. Interestingly, those who will be going into debt to finance Christmas are planning to spend more this year ($1,211) than the average kiwi. The majority of those who go into debt tend will spend a significantly higher amount on purchases for their children and on family members and the least amount on themselves.
NZ Compare are all about helping you compare the options and make an informed choice. Taking a few moments to compare some basic utilities and services will likely save you a few dollars here and there each month. Tuck those regular savings away and you could be looking at a much less stressful Christmas next year!
Get your finances sorted with Money Compare. Money Compare is completely free to use, the quick and easy tools help you compare financial products and make an informed choice. If you have to go into debt at Christmas, you can look at options to get debt-free quicker by consolidating your debt and making sure you don’t pay more than you should in interest and fees.
While you’re at it, why not give your mortgage a health check? A mortgage advisor can give you free advice on your mortgage, provide you with a summary of the best mortgage and home loan options. A mortgage health check can often reveal saving opportunities, potentially thousands of dollars if you have an “unhealthy” mortgage.
Join Opinion Compare and be rewarded for sharing your thought and opinions. Complete surveys about all sorts of topics, earn points and then redeem those points for gift vouchers from top New Zealand brands.
The surveys are really easy, most of them only take 5-10 minutes (or less!), you’ll be rewarded and your opinion will help to shape the products and services offered in NZ in the future.
Make sure you are on the right broadband plan. Too many New Zealanders are paying more than they should for broadband. Why not take a few moments check your address with Broadband Compare and making sure you’re getting the best deal on broadband. Or take advantage of our exclusive deal with Orcon and take a break from paying your broadband – sign up for unlimited broadband on a 12 month plan and get 3 months free! Get the deal
There are loads of changes coming in the way we buy and pay for power – a big one is that power companies have to get rid of prompt payment discounts. This is a great time to compare power plans and make sure you’re not paying more than you should when your prompt payment goes. Some innovative options are providers like: