For many Aussies, Boxing Day sales is basically a national sport.
The turkey’s still in the fridge, the group chats are buzzing and suddenly, every brand you’ve ever loved is screaming “WE HAVE 50% OFF!!!”
However, before you hit “add to cart” or run to the till, finance expert Sarah Megginson tells WHO that little planning can save you from the dreaded post-Christmas money hangover.
According to research by Finder, 29% of Aussies plan to shop the Boxing Day sales this year, and last year, shoppers spent an average of $489 each. “That confirms it’s a really easy opportunity to overspend,” Megginson explains.
So how do you enjoy the sales without putting a painful dint in your bank account? Read on for our helpful guide to navigating the Boxing Day sales like a pro.
Write a list (Santa style)
Sarah’s top tip? Channel your inner Santa and make a list. “The thing about shopping in the sales is that it gives you a massive dopamine hit,” she tells us. “Buying something that’s discounted is confirmation that you’ve made a smart decision and your brain rewards you for it, which is why some people find shopping on Boxing Day to be so much fun.”
The problem? That feel good rush can make it very tempting to keep buying. Sarah’s advice is to write a list of things you want and try to stick to it, rather than stocking up on things you might want or need because they’re discounted.
If it wasn’t on your wish list before Christmas, it probably doesn’t need to be in your basket right now.
Credit cards: proceed with caution
Sales + credit cards = a dangerous combo. While spreading the cost may seem harmless, Sarah says it can quickly backfire.
“A ‘bargain’ isn’t really a win if the debt hangs around into February/ March and you’re paying interest on it,” she explains.
If tapping your phone makes spending too easy then delete your card off your phone’s wallet and stick to cash or your physical card instead,
Don’t forget the sneaky extras
Online shopping can also play tricks on your budget. “If you’re shopping online, factor in extras like shipping, warranties and return fees so you don’t blow the budget unintentionally,” Sarah urges.
The $40 dress isn’t such a steal when you have to pay $15 for shipping and another $10 to return it if it doesn’t suit!
Shop smart, not sorry
The Boxing Day sales should be fun, not financially traumatic. With a clear plan, a realistic budget and a bit of self-control, you can still bag some great deals without starting the new year in debt.
Because the best bargain of all? Opening your bank app in January and not flinching… a girl can dream!
Related stories
Native ad body.
Native ad body.
Native ad body.
