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Christmas Crazes: Where is your money going?
By Amy Bradney-George
As shopping centres and department stores start to shine with festive decorations, it might be time to consider what costs the most at Christmas time. While at least 5.2 million families find Christmas a time to share, it could also be the time when your credit card gets the most swipes all year. So, what items are putting the most pressure on Australian credit cards at Christmas? Despite the spending we all do on presents some of the highest costs go to items more likely to be enjoyed on, or before, Christmas day. |
Image by teamaskins |
For the appetite
Festive food comes in first, with spending in the retail sector at around $7,593 million for December 2007. The Australian Government reports that turkey, ham, pavlova, ice cream and salads are among the most popular foods for Christmas.
All of these things have risen significantly in the past year, so don’t be too surprised if the holiday food plays a significant part in Christmas spending.
Light the way
If you’re wondering what specific items cost the most before Christmas, decorations are at the top of the list.
Last year the Australian Bureau of Statistics reported over $10 million was spent on Christmas tree lights, and another $56 million on other Christmas-related items from overseas.
It can be wonderful to drive around and look at houses sparkling with Christmas spirit, but with electricity costs rising another 4.6% from June to September, you can also expect the lights to take a hefty toll on energy bills.
Toy story
Toys are another significant purchase, with over 3.2 million children under 15 celebrating Christmas at last count. In 2007 39 million dolls and stuffed toys were imported for the season, with around $95 million purchases made last December.
Travel-bug
While these costs are quite specific, locations can also contribute to budgets and bills. Last year around 12,052 Australians travelled overseas during the Christmas season. Travel doesn’t often come cheap, especially during the festive season. With the continuing price rises for fuel, even more local Christmas trips can clock up the cash, but for an annual holiday it may be worth it.
Having some idea of where your money may have gone for past Christmases will help direct where it goes this time round. Even if the spending seems a lot, at least with recent interest rate cuts there’s a bit less pressure on credit card costs. That can make all the difference between spending and saving. So to find the best deals around town shop around online and compare prices and products.
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