Budgeting tips for Christmas

The festive season is fast approaching and with it, all the wonderful things an Aussie summer Christmas brings. With gifts, parties, food and beverage costs, however, it can be tough on the wallet.

Here are some tips and tricks to get you through the silly season and help you stick to a realistic budget.

Make a list – and check it twice

Begin planning and shopping early to avoid the last-minute rush and bag some early festive bargains. Early shopping allows you to compare prices and make considered decisions. Stick to your list to avoid spur of the moment pricey purchases.

Consider DIY gifts

Personalised, homemade gifts are often more meaningful and cost-effective. Consider crafting, baking, or creating vouchers for experiences or services you can provide.

According to Finder, last year, Australians were expected to spend $1,361 each at Christmas.

Boost your budget with a wardrobe clear-out

Clear out any old clothes, shoes or jewellery and if they’re in good condition, see if you can sell them on online marketplaces to make some extra cash.

Organise a Secret Santa or Kris Kringle

Instead of buying gifts for everyone, organise a Secret Santa or Kris Kringle where each participant buys for only one other person. Set a reasonable spending limit so everyone can take part.

Embrace second-hand and upcycling

Consider buying second-hand or vintage gifts that are often unique and more sustainable. Upcycle or refresh old decorations instead of buying new ones and reuse last year’s wrapping paper.

Plan menus wisely

Plan your holiday menu to minimise waste and costs. Consider what’s in season and buy non-perishable items in advance when they’re on sale.

Prioritise experiences over things

Memories often outlast physical gifts. Plan affordable experiences, like beach outings, hikes, or game nights, that bring joy without the hefty price tag.

Planning ahead, being creative, and focusing on the things that truly matter can help create a memorable and affordable holiday celebration for you and your loved ones. And if you’d like financial peace of mind for you and your family throughout the year, you may want to consider life insurance. I can walk you through your options and help you find a policy that suits your needs.

For help with your budget, contact our team here.

Source: TAL

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