Christmas cost cutting: 14 million Aussies taking action to save on the holidays

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Squeezed Aussies are taking extra steps to save on costs this holiday season, according to new research by Finder.

A Finder survey of 1,009 respondents found 69% of Australians – equivalent to 14.4 million people – are making some sacrifices this Christmas as bills and mortgages remain high.

The research shows 1 in 4 (25%) are shopping early to get the best possible value for money, while 12% are implementing a gift limit with loved ones.

Almost 1 in 10 (9%) are making their own gifts, and the same number (9%) are forgoing a trip away to save money.

The data shows 7% of Australians – 1.5 million people – have started a side hustle/second job to help with costs.

Rebecca Pike, money expert at Finder, said Aussies are having to make tough spending choices this year.

"Many are finding it hard to enjoy the festive season without putting themselves further into financial strain.

"Aussies are prioritising essentials like bills and mortgage payments over holiday indulgences."

Women (72%) are slightly more likely than men (67%) to have adjusted plans over the festive period due to finances.

"A more modest Christmas can still bring joy without the stress of overspending," Pike said.

The research shows 8% of Aussies are not exchanging presents this year, while 7% are inviting less people to their events.

Pike urged Aussies to set up a dedicated savings account or holiday fund for Christmas 2025, which just 6% of households had done this year.

"A dedicated account allows you to spread out the financial load over the year and avoid the stress of last-minute expenses.

"Estimate the amount of money needed for gifts, travel, food, and other holiday-related costs for 2025 then ideally set up an automatic transfer each month into a holiday fund.

"Even small, consistent contributions can add up significantly over time," Pike said.

More than 1 in 5 (22%) Australians said they haven't prepared for the cost of the holiday season.

Are you doing any of the following to save on the cost of the holiday season?

Buying food/presents early25%
Shopping during the sales season (Black Friday, Cyber Monday etc)24%
Implementing a gift limit with loved ones (e.g. price limit, only buying for one person etc.)12%
Skipping trips away and staying at home9%
Making gifts9%
I'm not exchanging presents this year8%
I have started a side hustle/second job7%
Regifting7%
Inviting less people to my events (e.g. not inviting extended family)7%
I have opened a holiday season savings account/started saving already6%
I'm not preparing for the cost of the holiday season22%
I don't celebrate the holiday season9%
Source: Finder survey of 1,013 Australians, November 2024

Methodology

  • Finder's Consumer Sentiment Tracker is a monthly recurring nationally representative survey of more than 60,000 respondents.
  • Figures in this release are based on 1,009 respondents from November 2024.
  • The Consumer Sentiment Tracker is owned by Finder and operated by Qualtrics.
  • The survey has been running monthly since May 2019.

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