Christmas spending doesn’t have to blow your household budget


“Set a Christmas budget; figure out what you’re going to spend and stick to it. Pay cash and avoid putting your purchases on credit cards or buy now pay later.

Quality over quantity is a big trend this Christmas, according to PayPal Australia Christmas Research 2020 data. A survey found that Australians will spend an average of $ 560 on gifts this year, down $ 59 from previous years. Almost 38% say they plan to prioritize quality over quantity and 40% say spending a little less doesn’t necessarily mean they still can’t give nice gifts.

Top 10 Tips for Saving for Christmas

1. Buy online and use cash back programs. Gifts can be sent directly to family members, sometimes wrapped free of postage.

2. Make a “live list” of all your holiday and Christmas expenses, plan a budget for everyone and stick to it. Adjust your list to make sure it’s realistic when you pay each cost.

3. Weigh the cost of buying gifts. Paying for a full-price item on a debit card may be better than buying it with a small discount on a credit card – if you don’t pay for that purchase before you incur interest. Buying items from separate online retailers that offer the lowest prices may not be the best option if you are faced with multiple shipping costs.


4. Be aware of return-to-store periods. Find out if a retailer will offer you a full refund, credit note, or exchange before purchasing a gift.

5. Be disciplined in respecting refunds if you buy on credit. It’s important to stay strict with your scheduled repayments, otherwise you’ll have to pay late repayment fees plus interest.

6. Common “Kris Kringle” gifts with family members or workplaces.

7. Head to the stores on Christmas Eve. Supermarkets have big discounts on meat, cold cuts, and refrigerator products that can be used for Christmas or frozen for later.

8. Make sure your Christmas travel plans offer free cancellation. If you need to change your game plan, you want to make sure you don’t lose money.

9. Take advantage of the holiday season to earn some extra cash. Put on decorations for others, do random odd jobs through Airtasker, and use that extra money to pay for Christmas instead of going into debt.

10. Trees can be purchased at a second-hand store, fully decorated, for as low as $ 20.



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