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Christmas Cash Tips

Avoid a festive flip out with our top tips
to manage your money this holiday season.

Avoid a financial flip out this Christmas

With less than three months until Christmas, October is the ideal time to start planning for the traditional spending spree, especially if you want to avoid a hefty debt hangover.

According to financial research company RateCity, Australians racked up more than $22.5 billion on credit cards in the lead-up to Christmas last year and took out a further $757 million in cash advances. “The earlier you start, the more money – and stress – you’ll save,” RateCity chief executive Alex Parsons says.

If you feel pressure to spend more than you can afford, chances are you'll use your credit card to cover the gap. However with a bit of forward planning, you can have the Christmas you want for less. Work out your budget now and plan what you're going to buy. Make a list of everyone you want to buy presents for and stick to it. Where possible, avoid putting purchases on credit. Consider other options such as lay-by which is far cheaper and has less risk. If you are going to put something on your card, consider how and when you’re going to be able to pay it off. And try to pay off your debt as soon as possible to avoid having to pay interest on top of the principal.

If you'd like to discuss these or other ways we can help, give us a call on 3357 5553.

What is your financial kryptonite?

Whether your weakness is online deals, boxing day sales or buy-one-get-one-free, there are certain things most people can't resist when it comes to spending. in an article published on the writer outlines the Top 10 ways to find out if you're bad with money (see if you say yes to any of these):

1. You spend more on takeaway and restaurants than your weekly grocery bill
2. Your daily deal vouchers expire before you get around to using them
3. You bought a top of the line iPad but only use it for playing Angry Birds
4. You have clothes with the tags still on them in your wardrobe
5. You can't go to Ikea without buying something
6. You feel like you're being cheap if you buy something on sale
7. You're obsessed with reward points but don't pay your credit card bill
8. You own a Snuggy (or a ShamWow)
9. You have a gold-star rating on eBay
10. You own an expensive steam mop and free set of steak knives

To read the full article and get some tips on overcoming your spending weaknesses, click here.

Financial freedom starts today

As your accountant, we want to help you ensure your financial future is a strong one by providing you with access to services we know will be of benefit to you. It is important to determine what you want for your financial future; a secure retirement or other things you look forward to - is it travelling overseas each year? Is it having a holiday home in addition to your family home? The right advice and a tailored plan are important steps in working toward your financial goals.

The additional financial services we offer include most areas of wealth management (for example, superannuation, investments, personal insurance and estate planning). We will work closely with you to create a holistic financial strategy tailored to your specific needs.

For more information or to book a complimentary consultation with John, call us on 3357 5553 today.

Coming up

21 Activity statements, PAYG instalments
28 Activity statements, GST instalments, Superannuation
31 PAYG withholding, GST, TFN report, AIIR reporting
31 Income tax return due for individual, partnership, trust

11 Activity statements, Q1 electronic
21 Activity statements, monthly

For more key dates, click here.

Client Spotlight

Each month we'll highlight one of our clients and introduce you to great people to do business with. The first taking the spotlight is HydroKleen. Did you know you could save up to 30% of your air conditioner running costs by getting them cleaned? HydroKleen service all makes and models and don't charge a call out fee or hourly rate. A domestic service and full sanitisation of a wall split air conditioner is just $150 +GST and any additional machines just $130 + GST. Contact the team today on 07 3343 9999.

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Do you know of anyone who would benefit from our services? If you are happy with the service we provide, we'd be really grateful if you would pass on our contact details. The first meeting is complimentary.  
Sciacca's Financial Services is an Authorised Representative of Count. 'Count' and Count Wealth Accountants® are trading names of Count Financial Limited, ABN 19 001 974 625 AFSL 227232 ("Count") a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.
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