Shop smart by taking control of your spending

Most of us get a little carried away at Christmas. A few too many mince pies. One or two more presents than planned. It can hit the pocket hard, but we’ll pick up the pieces in January. After all, nobody wants to be a Scrooge.

But you don’t need to be a miser – just shop wiser.

Make a list, spend within your limits and have a perfect Christmas, without the January blues.

Sales are always tempting, and when an attractive price cut is for a short period, it can be too much to resist. But is that discount all that it seems? And what rights to do you have if something goes wrong?

If you use credit to make the purchase, it’s a good idea to factor in that extra cost when deciding to buy. It’s always important to keep an eye on the debt you are taking on.

It only takes a few minutes to understand your consumer rights when buying in the sales, and our useful tips on managing your spending and credit will help you make better decisions, even in the heat of the moment.

Remember, Christmas is just around the corner. Enjoy the early sales, but shop smart and use your money wisely.

Christmas Sales prices 

Many shops have sales in the run up to Christmas. Take a moment to read the rules below on discount price displays.

Businesses must be honest and not mislead you into thinking you are getting a better deal than you really are.

A business cannot:

• Discount a product from a price it was never on sale for 
• Hike the price up for a few days, then advertise a discount based on that artificial change 

Businesses must set their campaign discounts based on the lowest price a product was on sale for during the previous 30 days. All goods on sale must now show this prior price. 

For example, if you see an item marked ‘was €500 – now €250’, it must have been priced at €500, at the very lowest, in the 30 day period before the price reduction. It is against the law for shops to give a misleading previous price.

Learn more about pricing rules. 

Know your consumer rights

Read about your rights if you buy goods, services or digital content/services. 

If something goes wrong 

When you buy a faulty item, your first step is always to contact the business. If the fault occurs within 30 days, you can cancel the purchase and get a full refund. The refund must be the actual price you paid. If you no longer have your receipt but paid for the item with your card, a card statement will do. 

You can agree to a replacement or a repair instead if you prefer. If more than 30 days has passed since you made the purchase, you can still request a refund if you believe that the fault is serious.  

If you buy in store, you have no right to a refund if you change your mind. But if you buy online, you can change your mind and get a refund within 14 days of receiving the item. This does not apply if the product or service is personalised or not suitable for return for health or hygiene reasons. You can read about other exceptions, and more about your rights when you buy online.

Shop notices that say “no refunds” or “no exchanges” do not change your consumer rights for faulty goods.  

Remember, your rights are stronger if you are buying from Ireland or another EU country. If you buy from outside the EU, you are less protected. You should also remember that if you buy from an individual who isn’t selling as part of a business, your consumer rights do not apply.

Choose credit carefully 

Almost a third of consumers plan to borrow to pay for Christmas. Credit can feel like a lifeline when you don’t have the money to hand to meet these big expenses.  

However, easy access to credit options like Buy Now, Pay Later or credit cards can tip people over their spending limits. It is important to have a budget plan to help you cope with the increased demands of the festive season. Let’s look at how you can do this effectively.  

Use our budgeting tools 

There’s still time to plan for Christmas. Look at your day-to-day expenses and see what you can afford to spend over the coming weeks. We have a useful budget planner to help you do this. 

You just need to fill in the amount you have coming in, and the budget planner will let you break down your spending into the main costs. You can then see how much you are expecting to spend and compare this to your income. This will help you control your spending better on a tight budget. 

Why not start putting money aside immediately? Use our spending calculator to see what you are spending and what you could save by cutting back.  

Buy Now, Pay Later 

If you find yourself needing to use credit, it is important you understand the full cost and what exactly you are signing up to. Buy now, Pay Later is a credit arrangement that allows you to buy goods or services now and pay for them later. It is a quick way to pay for things and allows you to spread the cost over months or years.  

Buy Now Pay Later is a loan, although some BNPL providers might offer an interest free period. Often, BNPL use a higher interest rates than those offered by banks or building societies. 

 Find out more about BNPL. 

Credit card spending 

It is best to use savings to pay for Christmas expenses if you can. If you do need to borrow, work out how much you need. For example, if you are going to spend €1000, a personal loan may be your best option. Use our loan comparison rates to get the best rates. 

Credit cards tend to be  one of the most expensive forms of credit and should be avoided if possible. January is a tough month financially. The post-Christmas credit card bill can make for worrying reading.  

It doesn’t take long for credit card debt to stack up, unless you can pay the balance in full at the end of each month. The higher the interest rate you pay, the more it costs you. Find out what your current rate is on your bill. Our credit card Money Tool compares the different rates on offer. 

You may be able to switch your credit card provider and transfer your balance to a lower interest rate. This will give you space to pay down the balance. 

Learn more about how credit cards work.