WEALTH HUB JOURNAL

How to Save Money While Making the Most of Christmas This Year

To save money this Christmas, stay home instead of taking the family on holiday, restrict the menu to what you’ll actually eat, and buy thoughtful gifts instead of expensive ones.
For many of us, this will be our first “normal” Christmas since the pandemic. So it can be even more difficult than usual to make the most of holiday parties and large family gatherings while still saving money.

During the holiday season, it’s easy to lose your focus on financial goals. However, splurging on an expensive gift or overextending to throw an extravagant party will lead to regret the next time you assess your short- and long-term financial objectives.

In 2021, Australians spent an estimated $17.3 billion on Christmas, averaging a whopping $893 per person.

Let’s look at some small adjustments you can make that will help you make the most of the holiday season without putting yourself in financial distress. Once 25 December is over, you’ll be glad you did.

Stay Home for the Holidays

You don’t have to find snow (or beaches) to have a memorable holiday. Reserving your home for your Christmas festivities is much better for your pocketbook than booking hotels or purchasing plane tickets for the entire family.

Your home can be as relaxing and rejuvenating as any holiday retreat. Hire someone to clean your home and keep up with chores, and make a point to venture out to restaurants and activities the same way you would if you were on holiday somewhere else.

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