Once again, another year has snuck up on us and we are now heading into the festive season. After a year like no other, many Australians are looking forward to festive celebrations and the end of an unprecedented year.
As restrictions have now eased all over the country, as a nation we are preparing for a “normal” Christmas. Everyone is looking forward to a bit of routine, including being able to visit friends and family in other states, or even just being able to go shopping at a store, and witness the familiarity of the Xmas rush.
Westpac chief economist Bill Evans said, “Given the high degree of uncertainty this Christmas, it is a very encouraging sign that many are planning for a normal Christmas”.
Australians are expected to spend $54.3 billion in the pre-Christmas period, including during the Black Friday and Cyber Monday sales, according to ARA research writes @ProfConsumers in this feature https://t.co/TatEqjfnTW
— Australian Retailers Association (ARA) (@retailaustralia) December 1, 2020
However, since this year has been so different many are re-evaluating their financial position and how they will be spending this holiday season.
Every November the Westpac-Melbourne Institute consumer sentiment survey lets us know people’s spending intentions heading into the end of the year, and the festive season.
For 2020, 11.5 per cent of those surveyed expected to spend more, while 32.3 per cent expected to spend less. While this may come off as a negative, economists were happy to see that the responses were actually in line with the long running average that has been standing since they began receiving this data in 2009. So, despite the rough year, spending habits were steady and heading towards normal.
The sentiment of the responses is indicating that even after the gloom and loom of the lockdown period, everyone is really looking forward to a positive future.
It is still important that you are planning ahead to ensure that you and your family are financially ready for this season. One of the most expensive periods of the year can cause a strain financially if you end up spending more than you expected, which is why planning ahead is important.
Starting earlier, buying less and making the most of online – how COVID-19 is changing Australia’s Christmas shopping habits https://t.co/G9D0WmRc0n @MonashBusiness @MonashMarketing #retail #shopping #christmas #marketing
— Aus Business Deans (@BusinessDeans) November 30, 2020
Spondooli specialises in providing quick cash loans for times when you need them the most. The best part is that unlike a regular bank loan, there is not mountains of paperwork and long waiting periods. As long as you meet all of the necessary criteria, such as secure employment, you can have the funds within your account on the same day.
They can also help to take care of a common concern when taking out a loan and that is the unexpected. We know things don’t always go to plan, so as long as you let Spondooli know in advance, they can adjust your payments accordingly.
So, now that you and your family are financially ready for the holiday season, you can think about what you are going to buy everyone, and maybe even what sneaky present you can get for yourself!