Sensible spending over Christmas

December 11, 2013
NSW Admin

With just weeks remaining to Christmas Day, Richmond mortgage broker Andrew Heath says Australians are taking a sensible approach to festive season spending.

Dreaming of a tight Christmas? It looks like plenty of us are, with Mortgage Choice research showing almost one in two (40%) Australians plan to spend less this Christmas than last year.

When I talk with Richmond (NSW) and Hawkesbury home owners, it’s clear the festive season is both a wonderful time – and also for many, a financially challenging time.

The great thing about Christmas is that it’s possible to have a very merry holiday season without looking like the Grinch. The key is to plan your spending, stick to a festive budget and make allowances for regular commitments like your home loan repayments, which still need to be paid regardless of the time of year.

As the Mortgage Choice figures show, plenty of us are adopting a sensible approach and I reckon that confirms most Australians are comfortable with their finances.


Richmond mortgage holders staying financially comfortable

There’s no doubt that Richmond home buyers - and especially first home buyers in the Hawkesbury, are savvy with their money.  They don’t want to out-spend their means and this helps them remain financially comfortable all year round.

As further evidence of our sensible approach to money matters, the same Mortgage Choice study found the majority of Australians would put a $2,000 windfall towards improving their personal finances rather than indulge in some retail therapy.

More than one in three (34%) would put the money straight into their savings account, while a further 22% said they would use the windfall to pay off their credit card debt and 17% would inject the money into their mortgage. Less than 20% of people would ‘spend’ the money.

As a Richmond Mortgage Choice broker, this is all great news, and for Richmond mortgage holders, keeping spending under control over Christmas has the added benefit of leaving you well placed to enjoy a financially healthy New Year.

Make a date to review your Richmond home loan

With the holiday season approaching, now is a good time for Richmond mortgage holders to review their loan. It’s a free service we offer, and we can let you know if there is potential to save more money. I understand you’re probably flat out for the rest of December but it’s something worth putting in your diary for the New Year.


To make an appointment, call into Shop 1/37 Lennox St or call us on 4578 9904 or 0411 550600 7 days a week. Or visit or email me    

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