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Keep your credit card debt down this Christmas

Keep your credit card debt down this Christmas

November 24, 2010

Customers all over Australia are hitting the shops in search of great deals this Christmas. But how can you limit your spending, save money and control your debt at the same time? With the right credit card and knowing how to find the best bargain, you can keep your credit card bill down and save yourself from suffering a pre-Christmas financial meltdown.

How to find the shopping best deals
Whether there are one or 20 presents on your shopping list, here are some tips on how you can find the best shopping deals and spend less on your credit card this Christmas.

Set a limit. Before you hit the shops, work out how much you can afford to spend and set yourself a budget. Try not to pay any more than you need to and don’t go over it.

Shop around. Keep an eye out for catalogues from retailers advertising their specials and offers so you can see which has the better price. Some shops also store their catalogues online so take some time to research what is around and see what you can find.

Compare online. Depending on what and who is on your shopping list, there are a variety of websites that list distributors selling gift ideas such as ninemsn shopping. There are also sites that offer daily deals that make terrific and inexpensive gifts, such as Cudo.com.au.

Gain control with the right card
It is possible to avoid the pre-Christmas meltdown by not going overboard with your spending and having the right credit card. So before you start your shopping spree, it’s important to have the right tools.

Make sure you have a credit card with a low interest rate, a high number of interest-free days and low or no annual fees so that you can save even more while spending up a storm this Christmas. To see how your current interest rate on your credit card compares or to apply for a new card, check out the lowest rate credit cards online at RateCity to find one that suits you.

Then once you have finished your shopping, don’t let your credit card debt get out of control. Try to pay off the total balance within the interest-free days to avoid paying interest. If you can’t afford to, pay off as much as you can so that you pay less in interest. Set yourself a budget to work out how much you can pay to get rid of your debt sooner.

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