Future thinking should be shared. With that in mind our team publishes insights weekly to help keep you in the (k)now.


Hewison Private Wealth - Insights
Hewison Insights

Christmas – a time for giving

Chris Morcom
Partner/Private Client Adviser
20 Dec 2012

Merry Christmas everyone – the festive season can involve large amounts of food, beverage and of course the fun of gift giving.  For those that haven’t budgeted, or over-spent on their credit cards, the pain will arrive sometime in January in the form of a larger-than-normal credit card bill.

I am not going to lecture anyone on the ills of using credit for lifestyle expenses, so instead would like to look at ways to avoid such trouble in the future.

  1. Kris Kringle

Rather than expect every member of the family to buy a present for everyone else, why not organise a Kris Kringle.  Sometime in October you put everyone’s name in a hat, and pull out one name each.  Set a realistic limit on the gift and then enjoy the surprise of giving and receiving one well-thought-out present rather than many little presents not really needed.

  1. Christmas Club accounts

For those who always find themselves scratching for cash for Christmas presents, have a look at a Christmas Club account.  These accounts allow you to deposit throughout the year, usually regular amounts, and then only allow withdrawals in the last month or two before Christmas.  A great way to put money aside for gift giving, and allows you to budget the amount you spend on gifts each year.

  1. Budget for gift giving

Similar to the Christmas Club account, you can always build into your regular budget an amount for gift giving.  That way, you will always have funds set aside for the birthday and Christmas presents that you want to give.

  1. Make your own

Christmas can be a difficult time for many people due to the expectations of gift giving driven by strong retail marketing campaigns.  Rather than spend money on unwanted gifts, why not spend some time making gifts for your loved ones.  The time spent and thought given is usually well received….and it can be a lot cheaper than going shopping.

  1. Gifts to charity

There are many who don’t have enjoyable Christmas due to family or financial circumstances.  Many turn to assistance to charitable organisations for support at this time of year.  Why not give your loved ones the gift of charity – make a donation on their behalf to a charity that means something to them…with your gift making a real difference to someone in need.

I hope you and your family have a wonderful and safe Christmas and enjoy a happy and healthy 2013.


Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.auPlease note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.