Christmas cost cutting: 14 million Aussies taking action to save on the holidays
Squeezed Aussies are taking extra steps to save on costs this holiday season, according to new research by Finder.
Â
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.
Â
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.
Â
Almost 1 in 10 (9%) are making their own gifts, and the same number (9%) are forgoing a trip away to save money.
Â
The data shows 7% of Australians – 1.5 million people – have started a side hustle/second job to help with costs.
Â
Rebecca Pike, money expert at Finder, said Aussies are having to make tough spending choices this year.
Â
"Many are finding it hard to enjoy the festive season without putting themselves further into financial strain.
Â
"Aussies are prioritising essentials like bills and mortgage payments over holiday indulgences."
Â
Women (72%) are slightly more likely than men (67%) to have adjusted plans over the festive period due to finances.
Â
"A more modest Christmas can still bring joy without the stress of overspending," Pike said.
Â
The research shows 8% of Aussies are not exchanging presents this year, while 7% are inviting less people to their events.
Â
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.
Â
"A dedicated account allows you to spread out the financial load over the year and avoid the stress of last-minute expenses.
Â
"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.
Â
"Even small, consistent contributions can add up significantly over time," Pike said.
Â
More than 1 in 5 (22%) Australians said they haven't prepared for the cost of the holiday season.
Â
Are you doing any of the following to save on the cost of the holiday season?
| Buying food/presents early | 25% |
| 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 home | 9% |
| Making gifts | 9% |
| I'm not exchanging presents this year | 8% |
| I have started a side hustle/second job | 7% |
| Regifting | 7% |
| Inviting less people to my events (e.g. not inviting extended family) | 7% |
| I have opened a holiday season savings account/started saving already | 6% |
| I'm not preparing for the cost of the holiday season | 22% |
| I don't celebrate the holiday season | 9% |
| Source: Finder survey of 1,013 Australians, November 2024 |  |
Â
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.
Sources
Ask a question