Christmas countdown: 14 million Australians already preparing for silly season
- 28% of Aussies plan to cut costs by buying Christmas presents in sales
- Around one in four Australians (24%) have a gift ‘giving limit’ this year
- How shoppers can stretch their festive budget further
18 November 2020, Sydney, Australia – With the pandemic leaving many watching their money Finder, Australia's most visited comparison site, reveals the top 10 ways consumers are saving money this Christmas.
With Christmas just six weeks away, 73% of Finder's survey respondents – equivalent to 14 million Australians – are already preparing.
A new Finder survey of 1,011 respondents revealed what tactics Aussies are using to celebrate the festive season at a fraction of the cost.
More than one in four (28%) are expected to cut costs by shopping during sales such as Black Friday and Cyber Monday.
Two in five (41%) will be buying presents and food early to snag bargains and spread out the cost.
The research shows one in four Australians (24%) are implementing a 'giving limit' with loved ones this year to keep costs down.
One in seven (14%) have opened a Christmas savings account so Christmas expenses don't sneak up and leave them in a panic.
Kate Browne, personal finance expert at Finder, said many Australians are having to cut down this Christmas.
"A COVID-19 Christmas looks very different this year for many households," she said.
"It's going to take a while for some families to get back on their feet. However, there are ways to alleviate the financial stress of the silly season.
"Black Friday is next week but we're already seeing some retailers announcing deals early.
"This year we expect stores to be discounting heavily so if you want to save on your Christmas shopping check out what deals are on offer."
The survey found 13% of Australians will be making gifts this year, while 6% have started a side hustle to help cope with the cost of Christmas.
According to the Australian Bureau of Statistics 11% of employees are experiencing 'underemployment' – up from 8.4% pre-pandemic (September 2019).
Underemployment represents people who are working fewer hours a week than they want or need, or are in jobs that are below their qualifications.
"Underemployment is causing many Australians to look at other ways to make money during the crisis, whether it's selling unwanted goods on Facebook marketplace or doing the odd job through Airtasker, every bit of extra cash in the lead up to Christmas counts."
Browne said you can still enjoy Christmas on a budget.
"There's still time left to save – even if you start right now," she said.
Browne said one of the first steps is identifying what you normally spend money on at Christmas and focussing on the areas you could cut down.
"Many Australians will be hoping to spend some quality time together this festive season after a hard year but feeding a family at Christmas can be extremely expensive.
"Start buying long life items now that you can store away, and do your research when you are buying your fresh food to save money and to work out where you can scale back."
"Little changes can add up to big savings at a time when it all counts."
What Australian consumers are doing to save on the cost of Christmas
Black Friday deals to jump on now
- Up to 50% off activewear. If getting fit and healthy is on your list of new year's resolutions, stock up on some activewear from fitness site Gymshark, which has 50% off, or Rebel Sport which has 40% off.
- 20% off liquor at eBay. If you're an eBay plus member consider stocking up on your Christmas Booze now.
- Up to 50% off The Christmas Shop at Amazon. Amazon has you covered when it comes to Christmas gifts. Check out their Christmas shop for inspiration.
For further information
The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com.au's review pages for the current correct values.
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