It’s the hardest time of year to budget. Managing that Christmas spend can be so tough – we feel your pain!
It’s easy to overspend and be left with a debt hangover come January. Christmas can be even harder if you’ve got many people to buy Christmas presents for. How do you come up with creative gifts for everyone? Let alone pay for it all.
How much do Kiwis spend on Christmas presents?
Last year, TradeMe surveyed 550 New Zealanders about their shopping behaviour in the lead up to the Christmas period.
Most surveyed (40 per cent) says they spend NZ$25 to NZ$50 on each gift, while 21 per cent spend NZ$51 to NZ$75.
Trade Me’s Millie Silvester says half of those surveyed claim to beat the mad Christmas rush and get their shopping done in October or earlier.
“But 12 per cent of us leave it until the week before Christmas, with 1 per cent admitting to desperate last-minute shopping on Christmas Eve,” she says in a press release.
“More than 40 per cent of Kiwis told us they find Christmas gift shopping stressful. We all know it’s an expensive time of year too. Given 40 per cent of us plan on spending between NZ$25 and NZ$50 on each present, that adds up quick.”
Who is the hardest to buy for?
Silvester says shoppers find their partner (22 per cent) and parents (21 per cent) the hardest to buy for.
“Nailing the perfect gift for those closest to you is a pain point for Kiwis, who stress about getting it right. Kids, on the other hand, seem to be the easiest to find stocking fillers for, and only 6 per cent of respondents said they were the toughest to shop for. Kids are pretty transparent with their gift requests so that’s not too surprising.”
Kids can also expect to get the biggest haul at Christmas, she says.
“Thirty-seven per cent of respondents said they spend the most on their kids, conversely just 8 per cent said they spend the most on their parents.”
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Published 20 November 2018
Pie Funds Management Limited is the issuer of the JUNO KiwiSaver Scheme. You can read our Product Disclosure Statement here. This article is general in nature only and has not taken into account any particular person’s objectives or circumstances. Before relying on it, we recommend you speak with a financial adviser. All content is correct at time of publication date.