Skint for Christmas: Australians to spend $1.6 billion less on the holidays
Australians are tightening their purse strings this festive season, according to new research by Finder.
A Finder survey of 1,009 respondents revealed the average Aussie is planning to shell out $1,357 each this Christmas – equivalent to $28.4 billion nationwide.
That's an 8% decrease from the average spend of $1,479 in 2023 ($30 billion nationwide).
Sarah Megginson, personal finance expert at Finder, said households are planning to reduce their Christmas spend by $122 because of worries over money.
"The festive season can be financially stressful, particularly after a challenging couple of years marked by inflation and high interest rates.
"Aussies are doing a great job of budgeting and exercising restraint to avoid running out of money.
"With just over a week left until Christmas, there is still time to plan ahead," Megginson said.
The research found travel is still high on the agenda for many, with nearly 1 in 3 (29%) planning to getaway over the holidays.
Australians are on average expected to spend $436 on flights and accommodation, a 18% decrease from 2023.
Gift-giving remains a key focus, though it has dipped slightly. Australians are projected to spend $359 each on presents, down 4% from $373 last year.
In total, $7.5 billion will be spent on gifts nationwide, with 72% of respondents planning to buy presents.
Food and dining out also figure prominently, with Australians budgeting an average of $244 for food and $173 for eating and drinking out.
While Aussies say they are cutting back in nearly every category and overall, they'll be spending 30% more on dining out than in 2023. .
The research found a staggering $3.6 billion is projected to be spent on eating and drinking at establishments nationwide.
Megginson said it was more important than ever to set a realistic budget and stick to it.
"Instead of gifts for all the people in your life, consider adjusting traditions, like doing Secret Santa or contributing to a potluck dinner, or giving 'acts as service' as a gift – cooking a special meal, babysitting for the night, or helping in the garden.
"While Christmas may look a little different for many this year, it's still possible to celebrate without accumulating debt or financial stress," Megginson said.
How much do you think you will spend on the following this holiday period?
| CATEGORY | INDIVIDUAL SPEND | NATIONAL SPEND |
| Presents | $359 | $7.5 billion |
| Flights/travel | $436 | $9.1 billion |
| Eating/drinking out | $173 | $3.6 billion |
| Food | $244 | $5.1 billion |
| Alcohol | $145 | $3 billion |
| Source: Finder survey of 1,009 respondents, 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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