Mr Taxman
Change the way you feel about taxes.
Get informed and discover what the taxman doesn't want you to know.
Sharing it with Australia, Mr Taxman is a regular Woman’s Day columist and TV finance commentator
  • click to visit Mr Taxman on Twitter
  • click to visit Mr Taxman on FaceBook
  • rss

Xmas sales

Dec 28, 2010

Should we get all excited with the post-xmas sales or should we just stay well clear of them?

Mary-Ann, Neutral Bay

Without a doubt there are some great bargains to be made during the post-xmas sales but I would put a big sign up saying "Buyer Beware".   

Just as there is no such thing as a free lunch, there is no such thing as getting something for nothing.  I always have a quiet chuckle to myself when I hear someone "saved" $100 when they actually spent money doing so. 

I am sceptical about whether the discounts are truly genuine and that the quality is not diminished during these sales, so it pays to do some research before buying.

The post-xmas sales were designed, more than anything, as a marketing ploy to get people into the shops straight after the Christmas spendathon.  It seems to have worked as the sales attract a lot of people to them.  There is a buzz when you walk through the shopping centres in January.  It is that "buzz" which creates an adrenalin rush amongst shoppers who seem to start buying on impulse. 

And impulse shopping is the worst for any good savings plans, particularly when you can see a "50% Off" sign.  To avoid getting caught in the moment, the best thing to do is to devise your own post-xmas sales plan.

Work out a budget on how much you can afford to spend.  Make sure that you have allowed for the next credit card bill to come in after you hit it hard last month.   If you can't afford to spend any more then you must be disciplined and go without.  For those that can afford to do some shopping then leave your credit card at home and only take your budgeted amount in cash with you. 

Make a list of things that you need (rather than want) as that will help you reduce the urge to spend thousands.  Shop around for those items, particularly online.  You will be surprised just how many unwanted Christmas presents will be for sale on sites such as eBay.

Finally, a quick tip for those buying next Christmas' presents now ... make sure you buy the right size, particularly for those growing bodies.

Tags: FamilyFinancial Planning

Author: Mr Taxman

Comments

Post a New Comment

Media Availability

Are you interested in booking Mr Taxman for a speaking engagement or requesting his viewpoints for an article?

comments-rhsLatest Comments

  • "Attention!!! Do you need Urgent loan? We give out loan to interested individuals who are seeking loan with good faith and with the interest rate of 3%. Are you seriously in need of an urgent loan?..."

    By: Alexander Comfort at Apr 23, 2017 1:40PM

    Post: Super, mortgage, small business benefits: How to get more money from your tax refund in 2016

  • "I have a HECS debt from 1998 that I have never repaid as I moved to UK in 2000 and unexpectedly stayed! Will this debt ever need to be repaid if I continue living in UK? If I return to Oz to..."

    By: Steve at Apr 23, 2017 8:26AM

    Post: Two important dates for those with HECS/HELP debts

  • "I really don’t know much about this scam thing and at the same time, no one wants to be on the losing side. But i just came across a good hacker who helped me hack my ex boyfriends text messages..."

    By: karr at Apr 22, 2017 8:29PM

    Post: Marriage

  • "I WANT TO TESTIFY OF A GREAT AND REAL SPELL CASTER CALLED DR KAKUTA . THIS GREAT SPELL CASTER HELPED ME CAST A RETURN LOVE SPELL ON MY EX AND JUST WITHIN THREE DAYS MY EX RETURNED BACK TO ME WITH SO..."

    By: KEISHA at Apr 22, 2017 10:19AM

    Post: Marriage

  • "Hi Mr Taxman, I have been looking into my HECS debt because I feel that I should have paid it off by now. In 2011 the debt was at $21 399. I started working full time in 2013 and have been paying..."

    By: Natalie at Apr 20, 2017 9:06AM

    Post: Two important dates for those with HECS/HELP debts