- Beyond Bank Blog - https://www.beyondbank.com.au/blog -

99 days ‘til Christmas – are you ready?

With only 99 days left until Christmas Day, it is time to kick start your savings plans to avoid falling into the festive season debt trap.

With the direction of future interest rates uncertain and the continually soaring energy and grocery prices, the Christmas period is the time when families are most likely to under estimate the financial burden.

Often people forget about the myriad of other expenses beyond presents, such as food and drinks and of course any travel expenses such as petrol and accommodation.

The good news is that it’s never too late for those who haven’t yet considered budgeting for the Christmas period and offers the following tips:

To make saving for Christmas a little easier, we have developed an easy-to-use online budgeting calculator [1], together with a Christmas Club Account [2] designed to help customers save for their Christmas related expenses.

The Christmas Club Account features a limited access option, a higher rate of interest, no monthly account keeping fees and the option of having part of your wage deposited directly into your account.

No one really notices a small amount deducted from their wage each week, and it’s comforting to know that when December comes around you have a lump sum ready to spend without having to rely heavily on credit cards.

The last thing we want you to do is start 2012 with financial difficulties so we recommend you start planning now!

^Wayne – Chief Financial Officer