Budgeting is boring, I know, but it needs to be done. At the beginning of December, go through your upcoming expenses and decide what you want to spend over the festive season. Be sure to include gift purchases in your budget as well as things like travel and eating out.
It’s important to be realistic with your budget, otherwise you’re just setting yourself up to fail. Over the Christmas period try to keep track of your spending against your budget to make sure you’re on track.
It’s the silly season after all, so chances are you’re going to drink a bit of wine or at least gift bottles to friends and family. Consider buying a case of 12 bottles from a discount store to enjoy a discount of a few dollars per bottle.
It’s cheaper buying wine by the case or even half-case, than it is to buy the same bottles individually. Plus, these are sure to come in handy for that second cousin who you forgot to buy a gift for!
If you’re planning to buy someone a larger gift, for example a phone or laptop, wait a day or two after Christmas for some huge discounts. Boxing Day is well known for crazy sales and also crazy, jam-packed shopping centres which might not be very appealing.
But what you might not know is a lot of retailers offer the same huge discounts in their online stores, meaning you get to avoid the in-store frenzy while still enjoying the savings, all without leaving the couch.
This tip is so simple yet so effective. Chances are you’ll do some (if not all) of your Christmas shopping online this year. After you’ve added an item to your cart, before you finish with the order do a quick scan online for a coupon code.
There are discount codes floating around for hundreds of major retailers. You could find some great savings by doing a two-minute online search.
I know Christmas next year seems like a lifetime away, but you know it’ll come around sooner than you think (it always does!). If you’ve got some money to spare, consider putting it in a term deposit with a fixed interest rate that you can’t touch. This is a great set-and-forget savings account that you can set up now, for a stress-free silly season next year.
If don’t like the idea of a term deposit, check out a Christmas savings account instead. These accounts lock your money away all year and allow you access between November and January. Your future silly-season self will thank you for it.
Read the Product Fact Sheet to determine if the accounts mentioned suit your needs.