Your top Christmas savings tips

Your top Christmas savings tips

Because Christmas needn’t to cost a fortune

Earlier this month we invited you to share your best Christmas savings tips to go in the running to win a new fridge full of food – valued at $899.

We’ve notified the winners by phone, as outlined in the terms and conditions, and believe us when we say they were fun calls to make.

We received 261 entries and some very creative Christmas savings ideas. Here’s a selection of our favourites …

The forward planner

  • Hide a box in your cupboard and every shopping trip buy one thing to put in there for your Christmas feast.
  • Through the year, put aside a box with an occasional extra, like a carton of UHT milk, cereal, and detergent – things you use regularly. Then you can avoid paying for the basics at Christmas and afford gifts.
  • Make regular payments into a Christmas Club account at your bank or local store
  • Save for Christmas with a 52 week money saver plan. Week 52, add $52, week 51 add $51, and so on throughout the year. After 52 weeks you’ll save over $1,300 for Christmas.
  • Prior to Christmas, every fortnight purchase a gift card, by the time Christmas comes you’ll have enough money in gift card form to purchase presents or the entire Christmas meal.
A piggy bank wearing a Santa hat next to a Christmas budget list

The thoughtful giver

  • Give your time as a gift instead of material gifts, and consider making a donation such as giving blood.
  • Agree that all presents between you, family and friends must be made, grown or found – no money is to change hands. The presents will have more meaning.
Mother and sons making gingerbread cookie at home through window.

The savvy shopper

  • Use spare change weekly to buy postage stamps for gifts.
  • Buy bulk and split the shopping with family, friends.
  • Buy extra when products you need are half price.
  • When shopping for presents, go to garage sales or second hand shops – get some great bargains for little money.
  • Resist using your supermarket loyalty points during the year and save them for Christmas time.

And a few other tips that might come in handy

  • Combine with neighbours for a Christmas dinner street party and share plates of food.
  • Sign up for the paid survey websites and ‘cash out’ for money at Christmas.
  • Most impulse spending occurs outside of bank hours, so open a second saving account that does not have a key-card or internet banking attached to it so that you have to go into the bank to withdraw your money.

Thanks to everyone who entered, and merry Christmas from everyone at Good Shepherd Microfinance.

Banner with a Christmas tree, a star with a message saying Merry Christmas and Happy Holidays from Good Shepherd Microfinance

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