How to praise the perfect Christmas

Cash-strapped Australians are looking to rent instead of buying as they prepare to spend billions of dollars this Christmas.

With just over a week until Christmas, Research data shows Australians are expected to spend 38% more than last year on party spending.

With nearly one in four Australians planning to take on debt to finance this year’s holiday shopping, some are considering renting to keep their heads above water.

Canstar editor-in-chief and financial commentator Effie Zahos said that a “huge increase” in rental interest is a sign of the times.

But she and Canstar chief spokesperson Steve Mickenbecker said consumers should always be careful not to overspend on rentals, as it could end up costing more in the long run.

Christmas rental options

Whether it’s a tree and decorations available through Christmas tree rentals or a swimming pool to host the Christmas lunch, there is an ever-growing list of rental options to help you make your way. celebrate the holidays.

If you want to dress to impress but don’t have the budget for it, Ms Zahos said clothing rental in particular has seen huge growth in popularity since Australia came out of lockdown.

“If you are thinking of renting a dress rather than buying it, there is a lot of merit in doing so,” Ms. Zahos said.

It seems Australians agree, as nearly a decade after launching in April, subscription-based clothing rental service GlamCorner said they rented about 50 tons of clothes per month.

You can search online for local clothing rental platforms or check out other national websites such as The Volte and Dress Hire AU.

“By breaking out of restrictions, people are looking for ways to boost their morale [with] a little party spirit without having to shell out the full amount for an outfit, ”Ms. Zahos said.

Renting clothes can also help solve the old-fashioned waste problem.

In May, Deputy Minister for Waste Reduction and Environmental Management Trevor Evans said Australians were throwing away clothes and textiles at a rate of 15 tons every 10 minutes.

Be respectful of the environment

Ms. Zahos said leasing can be both great for the planet and for the hip pocket.

For partners Tim Sculthorpe and Mariana de la Rosa, sustainability is a top priority.

When the couple and their young child suddenly found themselves stranded in Sydney at the last minute and unable to have a family Christmas in Tasmania in 2020, they turned to the sharing and rental economy.

They were able to find five different people who offered to give them free Christmas decorations, lights and toys.

The couple were even able to “rent” a Christmas tree in exchange for a bottle of wine.

“We were like, ‘We’re broken because we weren’t supposed to be in town for Christmas and we got nothing,’ then people were so friendly and kind – they were just giving us stuff,” said Ms. de la Rosa. .

But they didn’t have a car and turned to carpooling to collect their vacation items from across town.

With car rental prices skyrocketing as Australians in lockdown head off on vacation, renting a car from a local on a ridesharing platform can mean saving a lot of money.

By renting out some items and sharing or donating others, Mr. Sculthorpe estimates his family was able to save around $ 500.

But Ms Zahos cautioned against using rentals as an excuse to always have the latest and greatest.

“[If you] you find yourself wearing a new outfit every week because you are renting rather than buying it can give you a bit of a false economy, ”Ms. Zahos said.

Mr Mickenbecker said leasing makes sense for things you only plan to use once or twice, but if it’s something you’re going to be using every year you should consider buying.

“If it’s something that has life and isn’t going to go out of fashion or deteriorate… and you can afford it, maybe you should buy,” he said.

“Before people rent or go into debt to buy something, maybe they should think twice and say to themselves: Is something really essential? “