We all know Christmas puts a dent in your holiday budget, in fact Mozo research shows over a third of Australians (36%) suffered higher credit card bills or a lower savings balance last year as a result of overspending at Christmas.
To help prepare your wallet for the Christmas season, Mozo is sharing its top savings secrets over ten weeks to help you save as much as $1,000 in time for Santa’s arrival.
Each week, you’ll receive a top savings tip that can be implemented into your day to day life. It could be as simple as not spending for a day or switching bank accounts, either way you’ll start to see the savings stack up.
Plus you could earn yourself a $500 Christmas bonus by simply sharing your top tip for cutting the cost of Christmas.
How much will I save?
Each week, we’ll estimate what your potential savings could be by following our tips, but the sky’s the limit with how much you could pocket.
How do I track my savings?
This is really up to you and choosing a method that you know you’ll stick to. Some ideas could be:
- Open a separate savings account especially for your Christmas savings and watch it grow from naughty to nice
- Download a money tracking app like MoneySmart’s TrackMySPEND which helps you take note of your savings but remember this won’t move the money for you
- A spreadsheet or notepad listing the amounts you’re saving each week. Again, you’ll need to put your money out of sight so it’s not tempting you in your everyday bank account
- A good old fashioned piggy bank where you put your tallied funds in an untouchable place until Christmas
How do I join the challenge?
By signing up here, each week you’ll receive a top tip in your inbox to help you save.
What if I start late?
While starting early gives you the best shot of saving more, Christmas cramming could still work but will require some extra discipline on your part. Or, you can look back at our previous week’s tip and double-up on your challenge each week.
What’s in it for me?
Apart from plumping up your savings account in time for Christmas, Mozo is giving its Santa Saver participants a chance to win a $500 Christmas bonus to add to your savings haul.