By now most kids will have written their letter to Santa…and Santa’s helpers are either relieved and organised, or in a panic!

In case you haven’t noticed – I’m a shopper – and I love it!  The challenge of finding a gift that is special and means something to the person receiving it is something I live for…and I’m pretty good at it too!

Having said that – it takes planning, which is another thing I’m good at (I promise this post isn’t all about things I’m good at…) – so here are my top tips for gift buying this Christmas:

1. Make a list

Seems logical right?  But if you go out into the shopping world at this time of year, it is inevitable that you will become frustrated by the lack of parking, the sizeable queues and the noise!  I like to list the names of those I’m buying for as well as a suggested gift.

2. Set a spend limit – per person

Just because you have a limit doesn’t mean you have to use it, but it gives you somewhere to start.  I often find goods with a higher value that are on sale, but this allows me to spend a little more on other areas and I still don’t blow the budget!

3. Read the “Junk Mail”

At this time of year I like to read the multitude of catalogues that appear in my letterbox – they give me great ideas for gifts, and have been known to assist in keeping to my budget!  I have a number of kids on my list (see tip 1 above), and I’ve managed to score a few bargains by taking note of the junk mail.

4. Don’t rush

I mentioned last week that I wasn’t organised for Christmas this year – but all of that changed on Sunday afternoon…you see I put aside the whole afternoon to write my list, set my budget…and I then went wandering – the amazing thing for me is that I wasn’t in a rush and have now accomplished about 75% of my Christmas shopping!  So take advantage of the longer trading hours at most stores this week, and remember that the deadline for online shopping with most retailers is fast approaching.

Anyone else have gift buying tips they’d like to share?

PS If your budget allows, please remember a gift to place under a “wishing tree” or leave with a non-profit organisation of your choice, thankyou xo

Regards

I refuse to count the number of days until Christmas…I’m simply not ready this year!  (Anyone who knows me is likely to be very surprised by that statement…)

In fact, the way I’m feeling right now is probably going to result in a mad dash to complete my Christmas shopping in the final days…so my question to you is – are you prepared?

It has been well documented in the media this week that consumer confidence is at an all time low.

Some of the facts reported include:

• that the Consumer Sentiment Index (being the way shoppers feel about spending) has fallen 5.5 points
• due to our economic outlook, the mood of consumers has decreased as people fear for their job security
• the number of shoppers who think it is the right time to buy household appliances has dropped by almost 12%
• many consumers believe unemployment rates will rise next year, so they are keeping their purse strings tight

So has any of this impacted on your Christmas spending or is it business as usual in your household?  What about the retailers reading this – have you seen this trend?

I know that Christmastime can be particularly draining in a financial sense for many in our community, and I consider myself lucky to have the resources to enjoy Christmas.

My lack of planning this year may see me spend slightly more or slightly less than usual, but the result will be due to circumstances rather than my consumer confidence – in any event I will ensure that I make a contribution to those less fortunate, as I do every year – because everyone deserves to experience the joy of Christmas.

Regards

While we’re on the subject of the school year finishing…this time of year also sees a new group of University graduates heading for the workforce.

If you’ve already taken up a job offer – congratulations to you , and if you haven’t as yet…just keep looking – and take any experience you can get!

If you have just completed your degree, then it is highly likely that you also have a HELP debt – but what does this mean?

HELP is the Higher Education Loan Program which was introduced to assist students in paying for their University tuition.  While no interest is charged on the loan, the amount financed is subject to an adjustment to reflect the Consumer Price Index (CPI) on an annual basis (1 June each year).

The great thing about HELP is that you only start to repay the amount you owe once your taxable income reaches the relevant threshold (you can see the current rates here)

One thing that often confuses taxpayers is how the repayments are actually made – when completing your Tax File Number (TFN) Declaration, you should notify your employer that you have a HELP debt.  Your employer is then required to withhold an additional amount of PAYG Withholding to cover your expected HELP debt repayment.

However – while this amount withheld is combined with your other PAYG Withholding and remitted to the Australian Taxation Office (ATO) – your HELP debt will only be reduced at the time your tax return is lodged and assessed – you’ll see what I mean when you read your Notice of Assessment from the ATO (but if it’s still confusing, please ask your accountant to explain!)

Employers should also ensure they are aware of the relevant repayment thresholds and check that their payroll procedures and software are up to date to calculate any amounts correctly!

Regards

School’s practically over for another year, and year twelve students around the country are celebrating in style!

But what comes next?

I consider myself quite lucky – I always knew I wanted to be an accountant, and I knew I could live with my parents and study in my home town – too easy really!  But I imagine the decision is not always that simple…

While there is still some time until results are released, applications for University have been submitted, and I understand that some students have received early acceptance notifications pending their results – so congratulations to you!

But if things don’t go exactly as you plan…don’t despair, I promise you have options.

It’s well known that TAFE colleges have suffered dramatic cuts in funding, but they still have plenty of courses on offer, and these courses can be a great stepping stone to University, or the chance to try out a particular area of study before committing to a full degree!

There are also many Registered Training Organisations offering certificates and diplomas in every subject you can possibly think of – and Government funding might be available to you too!

My recommendation is to think about the areas that interest you, make some notes on the skills you need, and then search the internet to see what’s available – this advice is really for anyone, not just year twelve students…it’s never too late to study and 2015 might just be your year!

Anyone out there embarking on a course of study in 2015?

Regards