4 Tips to Save Money during Christmas

For some sleighbells ring, and for others, it is farewell to a hefty chunk of cha-ching!

The festive season isn’t bells and whistles for everyone. The extortionate spending season can add a whole lot of stress and anxiety, especially for those on a tighter budget. This Christmas in particular, most people have less expendable income than ever, with an even greater pressure to get together, celebrate and be merry. It is possible to save money during Christmas, with a little preparation.

So how do you forge through Christmas without burning through your wallet? Here are our top tips for saving money this festive season:



A budget is a must-have year-round, but more so than ever in December. Allocate how much you want to spend for the holiday season in advance and stick to it. It could also be a good idea to track your spending throughout the month, so you don’t end up overspending. Plus, you don’t want to start off the new year under financial strain from a December-blowout.

Although it may be a little too late this year, you can start preparing now for next year’s gift-giving. Write a list of every person you buy gifts for throughout the year (not just at Christmas) then consider how often you need to buy them a gift, and how much you can spend on each. (Don’t forget Mother’s Day and Father’s Day!) Add all of the gifts up, and then divide that number by 52. This is the number you should be putting away for ‘gifts’ each week. (Warning, the number may surprise you!).


Give Better Gifts!

Always. Be. Prepared. Make that your gift-giving philosophy!

It’s all too easy to walk out of a store armed with overpriced presents that will end up gathering dust on the shelf. Make a list of exactly what you intend to buy for whom, with an allocated budget per person. Bigger savings plus better gifting! It’s a win-win.

Bonus Tip: Keep a note in your phone throughout the year of things people mention they might need, it makes it much easier to get ideas at Christmas time.


Shop Local

The resounding message of 2020 has been “Shop Local”. From the devastating bushfires at the start of the year, to the wrath of COVID, there has never been a more important time to spread goodness. This year, try to invest in Christmas gifts, produce and celebrations that support everyday Australians. Plus, you’ll find that local goods are generally similar (if not cheaper!) prices to overseas retailers, better quality, and with lower postage fees.


Give Fewer Gifts

If gift-giving is not financially feasible for you this year, don’t feel pressured to give gifts! It may feel like saying no to gift-giving is a little sacrilegious, but as your loved ones undoubtedly know, Christmas isn’t about the presents; it’s about family and friends getting together. Let the people around you know about your situation in advance to dispel any awkwardness, and instead, dedicate time to writing thoughtful cards for your nearest and dearest this year. You may even decide to organise a ‘Secret Santa’ with your family, instead of everyone giving gifts to each person. Some other family members might appreciate this idea too.

All in all, remember that spending time with your loved ones is what makes Christmas special, more so than how much you spend. And also remember that whatever you keep in savings, is closer to your goal of a house deposit! If you are planning to build your first home in 2021, we would love to help you + get you up to $55k towards your deposit. Find out more here.