Invest
’Tis the season to be thoughtless
As Aussies are preparing to hit the shops and spend on average $470 a person on quick and convenient gifts for others, they expect thoughtful gifts in return, new research has found.
’Tis the season to be thoughtless
As Aussies are preparing to hit the shops and spend on average $470 a person on quick and convenient gifts for others, they expect thoughtful gifts in return, new research has found.
New findings released by Suncorp Bank have revealed 40 per cent believe a card is a good gift while one in two agrees cash is an appropriate gift for others.
Australians are also a nation of regifters, as one in three believes it is okay to pass on an unwanted gift this Christmas.
While Aussies are happy to give presents that are quick and convenient, they expect a bit of thought when receiving presents, Suncorp revealed.
Nine in 10 consumers prefer to receive sentimental value over expensive gifts, three in four want presents that demonstrate an effort to make or find over expensive gifts and 90 per cent want gifts that are practical over prestigious brands.
Suncorp’s EGM for consumer banking, Chris Fleming, said there is a clear disconnect when it comes to the behaviours and expectations of gift-giving.
“Suncorp’s research tells us that when buying a present, our selection is largely based on the relationship we have with the person receiving the gift and the significance of the occasion. We’re actually not too focused on the amount of money we have allocated to spend or the expectations of the recipient,” Mr Fleming said.
How to budget better for celebration spending
Suncorp has revealed its four tips to help Australians reduce the cost of Christmas this year.
- Set up a dedicated bank account for your celebration spending and try transferring any money you have leftover at the end of the week.
- Start including one or two non-perishable food items in the food shop each week – that way you don’t need to do a bulk buy at once.
- Retailers are increasingly starting their sales earlier, so shop around for a good bargain.
- Write a list and stick to it – it sounds cliché, but it works.
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