20

November

How can we make Christmas easier on our wallets without skimping on the festive cheer?

Catherine Birchall

The festive season doesn’t come cheap. The average Aussie is expected to spend nearly $1,500 this Christmas on food, alcohol, eating out and travel.* 

Here are some ideas to incorporate into your planning that might make Christmas a little easier on your hip pocket.

Socialising:

  • Have you ever gotten to the Christmas season and then noticed that everyone suddenly wants to catch-up before the day? Consider scheduling in a few catch ups for after Christmas instead. A few weeks delay won’t hurt.
  • Avoid the bars, pubs and restaurants by organising a get together at someone’s house or at a local park.
  • If you’re doing a post-Christmas catch-up, get everyone to bring their leftovers instead of buying more food.
  • Keep in mind: it’s ok to turn down an event here and there.

Food:

  • Keep it simple, it can be easy to go overboard. You don’t need every type of meat or a table-sized grazing board.
  • Don’t be afraid to delegate. Divvy up the food and drinks list amongst every family member or friend so that everyone is bringing something; not just the ones who put their hands up without being asked.
  • Don’t get roped in by shiny specials or two for one offers. Consider the unit price first and the shelf life of what you’re buying. Try to stick to the seasonal fruit and veg.
  • Stretch out how far the main meaty event will go with lots of sides.
  • Make your function BYO alcohol; those who want to drink can supply their own.

Gifts:

  • Set a spending limit for each person you’re buying for.
  • Organise a Kris Kringle (Secret Santa) amongst your family or friend group. There are lots of different ideas online for making it more fun.
  • Try to plan your gift list as far ahead as you can. That way, you have time to find items at the best prices and availability.
  • Shop the sales. Aside from the big sales in the lead up to Christmas, lots of sites offer a one-time discount for first time shoppers. There are also rewards programs, online discount codes and special offers to be found.
  • If you’re buying a bigger item online, consider joining orders with a friend or family member to save on shipping costs.
  • Work out where someone has a gym membership, subscription service, or where they get their hair done, and get them a gift voucher. You know they’ll use it, and will appreciate the saving it gives them.
  • Consider looking for quality second hand goods for kids items like toys and books. Toddlers and newborns don’t care if something isn’t brand new.
  • DIY your gifts if you're creatively savvy, such as baked goods, herb mixes and candles.

Travel:

  • A lot of people are travelling at this time of year. Make sure you pack lots of snacks or fill the cooler box with sandwiches and drinks to save on meals if you’re doing a long-haul drive.
  • Download a fuel comparison app to see where the best petrol prices are along your journey.
  • Save on fuel consumption by limiting your speed and air conditioner use.
  • If you’re flying, consider booking flights as early as possible. Mid-week and early morning departures and returns are often the cheapest options.

If money is a little tight this time of year, talk to friends or family members about what you can do collectively to make it easier for everyone. Cutting back on the spending will never lessen the quality of time spent with loved ones.

*https://www.finder.com.au/australias-christmas-spending-statistics

About the Author

Catherine is the Founder of Money101. Having pioneered the development of digital financial education content in Australia in the early 2000s, she founded Money101 in 2004. Catherine remains a passionate evangelist for financial wellbeing and education.

Education: MBA, Business Administration and Management, General; Diploma of Financial Services, Financial Planning; B.A. Communications, Liberal Studies

Want to support your staff with a market-leading digital financial wellbeing program or leverage money education to attract and retain clients? Contact Money101 today!

General non-advice disclaimer

The information contained in this article is of a general nature, is provided for education purposes only and does not constitute financial advice. It has been prepared without taking into account your particular financial circumstances or objectives. You should consider the appropriateness of the information as it relates to you. You may wish to consult an adviser before you make any decisions relating to your financial affairs.

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