The festive season brings family, mates, and often a burst of extra expenses. If your wallet tends to lighten up around this time, you're not alone. Holidays, gifts, decorations, and hosting can quickly stack up the costs.
Here are a few friendly tips to keep your spending on track—without missing out on any of the festive fun.
1. Switch to cash or debit cards
We’ve all been there: tap, tap, tap... and suddenly your credit card statement’s scarier than the ghost of Christmas bills past! Using cash or a debit card means you can see exactly what’s left in your account. If the funds are getting low, that’s a good signal to hold off on the extras.
2. Limit online shopping temptations
Those 'Buy Now' buttons are extra tempting in the gift giving season. If you feel tempted by an impulse buy, think about leaving it in your cart for a few days. If you still want it after a few days, then go for it. But also, you could forget about it—which means more money saved for truly special gifts.
3. Make it a fun challenge
A little friendly competition can make saving more enjoyable. Turn your gifting spending plans into a game. Maybe set your friends an op-shop max value gift challenge or organise Secret Santa gifting for your Christmas party rather than having to splurge on lots of gifts for everyone.
4. Build yourself a holiday budget
Santa’s got lots to do for Christmas and even he has to organise his elves and workshops. You can take a page out of Santa’s book by writing down some figures beforehand. How much do you want to spend on presents this year? How much is Christmas dinner likely to cost?
This gives you a clear picture of what you can afford and sticking to your budget means less stressing over what you’ve spent, and more time enjoying pavs and BBQs with the family.
5. Set up a holiday savings fund early
A little planning throughout the year can mean big savings by the time Christmas rolls around. Imagine stashing away just $50 each month starting in January—that’s $600 by December! This way, you’ll have a ready-made fund to dip into for gifts, festive dinners, and all those merry extras, without the holiday spending stress.
By starting early, you're not just spreading the cost—you’re also giving yourself peace of mind. This approach means less scrambling in December and more time to enjoy the season's joy.