What you need to know before you hit the Boxing Day sales

Queenslanders have been warned to think carefully before shopping up a storm in the Boxing Day sales.

ABC reported Australians were predicted to spend a record $2.75 billion across stores nationwide this Boxing Day.

RACQ spokesperson Lucinda Ross said it was vital shoppers ensured they were getting a good deal rather than weighing themselves down with future debt. 

“It’s easy to get swept up in the excitement of sales, but you need to think about how spending now could impact your future,” Ms Ross said. 

“If you find a bargain that’s too good to refuse, try to use your own cash or savings, because if you can’t afford to pay for it now, how will you pay for it later. 

“And remember, if you put your purchases on credit or through ‘buy now, pay later’ and you don’t pay it by the due date, you could be hit with hefty fees or penalties.”

Ms Ross also warned shoppers to be wary of high pressure sales tactics and to do their research before they hit the stores or online retailers.

“Research first, shop later. If you’re after a certain product, compare every deal and offer to make sure you’re really getting value for money,” she said.

“Stick to your budget and don’t feel pressured by sales or store staff to make any financial decisions then and there.

“Think carefully before paying for an extended warranty too, as many extended warranties don’t offer you any more than the protections you already have under the Australian Consumer Law. By law the products you buy should be eligible for refund, replacement or repair depending on its expected lifespan.”

The information in this article has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in the document is general advice and does not take into account any person's particular investment objectives, financial situation or needs. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives, financial situations and needs.