Media Release

‘Tis the season to be thrifty: 31% of Aussies are scaling back on gifts

  • 1 in 6 Australians won’t buy gifts at all this Christmas
  • 42% of Gen Y will get creative or scrap gifts to save money
  • Christmas hacks to spend less

29 November 2017, Sydney, Australia – Millions of Aussies are cutting costs on gifts this Christmas, with many households feeling the pressure, according to finder.com.au, the site that compares virtually everything.

With less than four weeks ‘till Christmas, the new survey of 2,010 Australians reveals almost one in three (31%) plan to cut corners on presents, with many planning to scrap them altogether.

Broken down further, the research shows 16% won’t buy gifts at all this silly season, while 12% say they’ll regift or choose the DIY route with baked treats and handmade goods. A further 3% plan to go on a holiday instead of giving gifts.

Bessie Hassan, Money Expert at finder.com.au, says the cost of Christmas adds up fast.

“If you have a lot of people to buy gifts for, your spend can quickly spiral out of control,” she says.

“Families often feel pressured to spend more than they can afford over Christmas and while it may give you a warm and fuzzy feeling on the day, it could be the single biggest blowout of the year.”

Presents are most likely to be on the chopping block for Gen Y with 42% getting thrifty or opting out of buying gifts this silly season, compared to 31% of Gen X and just 24% of Baby Boomers.

Ms Hassan says it’s wise for consumers to celebrate Christmas without depleting their personal finances.

“At Christmas it’s easy to waste money on gift giving so shop wisely and don’t be left with a huge festive period hangover by overspending.”

“While it may not seem as exciting, taking a staycation is much better on the bank balance,” says Ms Hassan.

Over half (59%) say they’ll spend the same or more this year and 6% will do Kris Kringle to buy less gifts.

Money saving Christmas hacks

  • Consider Kris Kringle

While a few family members might be too young for Kris Kringle, you could consider Secret Santa among adults to save on cost.

  • Avoid shipping costs

If you’re shopping online, delivery fees can add up and blow your budget. Try and buy all your goods from one store to reduce shipping costs or search for a coupon when you’re ready to check out.

  • Leave items at the checkout

If you leave your items at the checkout stage for a few days, some retailers will send you a discount to help seal the deal.

  • Shop strategically

Seeing your aunt just before the New Year? For friends or family members you’re catching up with post-Christmas, consider picking up their gift in the Boxing Day sales.

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Disclaimer

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.

About us

More than 3 million Australians turn to finder.com.au every month to save money, time and make important life choices. We compare virtually everything from credit cards, phone plans, health insurance, travel deals and much more.

Our free service is 100% independently-owned by two Australians: Fred Schebesta and Frank Restuccia. Since launching in 2006, we’ve helped our users make more than 17 million decisions.

We continue to expand and launch around the globe, and now operate in the United States and United Kingdom. For further information visit www.finder.com.au.

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