$18 billion was spent over the Easter holiday period last year, adding to the average Aussie’s growing debt. In this article Trevor Greenhill reveals why it’s so easy to overspend, and how to stop it before it starts.
In 2024, Aussie’s spent a whopping $18 billion over the Easter period. With this massive figure covering a wide range of categories such as food, travel, and even home improvement projects, Easter is no longer just about chocolate eggs and long weekend barbecues; it’s become a major economic event. With easy and accessible payment options including Buy Now Pay Later schemes, experts agree that it’s likely Easter spending this year could climb even higher.
Already with cost of living pressures aside most shockingly if Aussies are not planning to spend more they have no choice thanks to inflation – the average family easter spend has increased by $18.60 for the same items they purchased last year!
Adding to the temptation, Easter often aligns with school holidays and is the last chance to soak up the warm weather before winter, making it prime time for getaways, with, 1 in 5 Australians travelling during Easter last year. However, booking last-minute trips usually means higher costs adding pressure to already stretched budgets.
So why are more Aussies falling into a post-Easter debt trap?
Trevor explains the most common areas of spending where people get caught out,
The most important thing you can do is have a budget and stick to it. Avoid the stress and establish clear spending limits. Factor in all expected expenses from Easter eggs, a more expensive weekly shop and any extra travel expenses. Sticking to your budget means you can enjoy Easter without the burden of debt.
Easter eggs are shrinking
With cost of living pressures putting pressure on the family budget, a recent investigation by consumer advocate CHOICE revealed that the average family Easter spend has increased by $18.60 for the same items they purchased last year. Termed “shrinkflation”, chocolate manufacturers such as Cadbury and Nestle claim the high price of cocoa has led to smaller eggs and bunnies, at higher prices.
It’s a concerning situation when we see people not planning to spend more money, but they are left with little choice if the Easter Bunny has to come and visit the kids.” Trevor says.
Making cuts in other areas would be the easiest way for consumers to tackle the rising cost of Easter.
Here are some area’s many fall into the Easter debt trap:
- Buying all the Easter stuff at the worst time
A lot of people grab decorations, gifts, and all the Easter extras last minute right before the holiday—when prices are at their highest, consider buying decorations for the following year once they have been discounted after Easter. It’s easy to forget how much those cute little things add up to especially if you’re not tracking them. Since it all feels “small,” it often just goes straight onto a credit card without much thought. - Last-minute getaways that cost way too much
With more Aussies off work over Easter break, spontaneous trips are super common—but they’re also much more expensive. Booking travel last-minute around a holiday means paying premium prices, and a lot of people end up putting the whole trip on a credit card just to make it happen. - Impulse shopping overload
Easter-themed everything is everywhere and its so easy to get caught up in the hype—from all the latest Easter eggs from every brand and kids tv show imaginable to pastel home décor, it’s so easy to fall into the novelty mindset. Those small, unplanned buys add up fast and can push your spending way past your budget without realising it. - Relying too much on Buy Now, Pay Later
These services are super tempting when you’re trying to stretch your budget, especially for gifts, groceries, or hosting catch ups with family and friends. But if you’re not careful, those payments pile up across multiple purchases—and suddenly, you’re juggling a bunch of due dates and extra fees.
Trevor’s final words of advice for people this Easter are simple,
It’s easy to get caught up in the Easter excitement and then overspend. Just plan ahead, set a realistic budget, and make smart choices based on your financial situation so you can avoid this debt trap.
Cloud Payment Group is one of Australia’s leading providers of debt collection and payment management services, with over 50 years of industry expertise.