Deck the halls on a budget this Christmas

Being budget-conscious might not be something you usually associate with the silly season (ahem, hello cocktails by the pool)...but being thrifty over Christmas without skimping on fun, can be done. What’s more, making sure you’re not left with too much budget bloat after the holiday period is a super important part of setting yourself up for a healthy financial new year.

So why not celebrate ‘thriftmas’ this year and deck the halls on a budget with these simple tips:

1. Budget + set up a Xmas stash

Know what the best stocking stuffer is? Christmas savings! And you can have just that when you crunch the numbers ahead of time and sock some dollars away for the festive season. “A budget is telling your money where to go, instead of wondering where it went” according to author Dave Ramsey, and Christmas spending is no different. Our online budget planner is a great tool to help you get your ducks in a row and work out how much you can put aside for Christmas. Enter your regular income, then all of your expenses including rent/mortgage repayments, utilities, insurances, car expenses, groceries and entertainment. Once you know what’s left over, you can plan to put a set amount aside each week in a dedicated Christmas stash account. 

2. Share your budget with friends

When it comes to letting friends and family know how much you’re able to spend over the holidays, sharing your budget with them can be a great way to get them on board. When people understand your budget boundaries and know you’re trying to look after your financial wellbeing, they’re more likely to encourage and support your spending choices.

3. Plan your giving ahead of time

Gift planning is a great way to put a handbrake on Christmas spending and avoid  impulse buying. Yes, your sister would look amazing in that designer beach poncho but can you afford it? Getting the whole family on board with ‘thriftmas’ can make it easier to stick to that gifting budget too. Hello Secret Santa (always fun!), or eco-gifting with upcycled, handmade or pre-loved items? Or how about simply putting a spending limit in place that works for everyone’s budget. 

4. Avoid Christmas catering bloat

Did you know the average Aussie gains 0.8-1.5kg in weight over the Christmas break? It’s true - all those plum puddings have got to go somewhere! Why not curb those Christmas calories and save some dollars on the Chrissie catering with a healthy festive spread instead? Sure, we all love left-overs, but with so much food often going to waste after Christmas Day, thinking ‘less is more’ will help you save in more ways than one and start the new year off on a healthy note too. 

5. Think outside the box with holiday activities

It can be challenging to find fun ways to fill the holidays that don’t involve over-spending but your local council website is a great place to start when it comes to finding inspiration for free events and activities. Plan your holidays ahead of time to make the most of affordable holiday options like house swapping with friends, backyard camp-outs, outdoor adventures, crafternoons, home concerts and more...

6. Make awesome memories

Making great memories and sharing good times with your family and besties are the gifts that truly keep on giving. The gift of time and adventures shared can be so much more rewarding than the things that money can buy, especially if overspending means starting off the new year with a debt-sandwich - no thanks! Why not set an intention this Christmas of making memories while spending less and capture all the magic moments in photos, journals or albums for the kids. 

Ready to kick-start your Christmas stash?

Explore your savings account options here.