We know a lot of you use your credit card for some of life’s ‘impulsive’ purchases, such as that new fridge/flat screen tv or bedding you ‘have to have now’ because it’s 20% off, for example. That’s quite alright, we’re not here to make you feel guilty about what you spend your hard earned money on, but those ‘impulse’ purchases could be much less impulsive if you put aside some money specifically for spending at this time of year, or make a rule that you will only use your tax return for the sales and no more. A lot of people are tempted by the idea of 0% interest on purchases with a new credit card around this time, and many (falsely) believe that just because there are sales on and discounts advertised you won’t get a similar bargain at different times of the year.

We can assure you that if you become a savvy shopper you’ll quickly discover that’s not the case, and while now might be a good time to buy an imported appliance or something similar due to the recent decline in the value of the Aussie dollar, retail sales come around a few times each year and online bargains are always there to be found. So…this is the time to remember some of those basic ‘shopping’ rules we so easily forget when we’re strolling the department stores looking at all the price tags and signs with a slash through them. To that end, we’ve enlisted the help of money expert Kris Bondin. Kris is the founder of Budgeting Works and knows a thing or two about helping you budget and create the life you want, so when he speaks, we tend to listen.

We’ve gathered together some tips for shopping in the EOFY sales, and put them together with Kris’s, and the result is your guide below; some free, helpful advice to make sure you survive the marketing blitz with your credit file intact.

Be careful about spending on things you really don’t need and won’t use

The key to success with this tip is good old fashioned psychology. Here’s what Kris has to say:

“I often spend time with clients going through a needs vs wants analysis that breaks down expenses on paper. During this exercise many client don’t realise how much of their money is spent on wants rather than needs.” Planning ahead of time is also recommended to avoid buying things you ‘want’ rather than need. Knowing what you can spend and having a list, even if it’s a rough one, will help here. “If you know how much you can afford to spend, then go prepared,” adds Kris.

For those purchases you do make with the credit card, remember that you have often got great features like price protection, purchase security or an extended warranty when you used the card for the transaction. Don’t forget if you have a rewards credit card to check out possible deals on your rewards program too. Extra points or discounts on merchandise could be available. Purchasing on your rewards cards with interest free days will give your points balance a boost too.

When using a credit card, get one with an introductory rate on purchases and pay back your sale shopping within that time

We’ve created a page with the credit cards that offer 0% on purchases, so that would be a great place to start looking. Apart from that, keep Kris’s words in mind: “Use credit only when you need to and my budgeting advice would be to have the cash to offset the card if you want to earn points from your provider.”

If you do have existing credit card debt, now might also be the time to consider a balance transfer offer and some new financial year resolutions to pay it down as quickly as possible.

If you have any credit card debt, use your tax return to pay it off

Many of us have to face the simple fact that before we go crazy at the sales, we have debt to deal with. It’s better to be safe than sorry here and try to use the refund where it will do the most good, and for some that means paying off credit card debt so we’re in a healthy position for the next lot of sales. “If you have debt, it is the most obvious item to pay off before you go on holidays,” Kris adds. Credit card debt can attract interest as high as 20%, so you’ll usually see it right at the top of the list of debts to pay off first. before your home loan, before the car or a personal loan, get rid of any credit card debt as soon as you can.

Some can allocate their tax refund before they get it and be disappointed when the actual amount isn’t what they expected or something else comes up, so here’s where a good accountant and advice from professionals can come in handy too. “Many people budget for a tax refund, but be mindful you may not always get a refund due to the nature of deductions and the way your employer is deducting tax on your behalf,” says Kris.

Don’t just buy the first bargain you see

This is an obvious one, but it has to be said. Whether it’s pay tv, a flat screen, car or just a standard household appliance everyone gets tempted by the discounted prices and the sense of urgency (like when they tell you to ‘hurry up’ in their e-mails and ‘final days’ … when you know you’ll see the same offer somewhere else some time down the track). “Even though you see plenty of colours and plenty of loud noises during ads, be sure you do your own homework before you splash your cash around,” Kris cautions. We agree. It’s hard to see through the spin sometimes.