5 weeks ‘til Xmas: Saying goodbye to a vice

5 weeks ‘til Xmas: Saying goodbye to a vice

Can you believe it? This week marks the halfway point of our Santa Saver Challenge! If you’ve followed our tips so far, you could have pocketed a whopping $1317.

But why stop there? Let’s continue saving in the lead up to Xmas by singling out one of your vices like junk food or booze. Check out these scenarios below to see how much you could potentially save in just one short week.

Potential savings made by ditching take-away food for a week: $70

Australians are spoilt for choice when it comes to food, with a thriving café culture and plenty of cuisines to choose from. It’s no surprise then, that a report released by the Commonwealth Bank revealed the average Australian spends a whopping $70 a week on eating out. If this sounds like you, consider kicking the habit for a week to put towards that Kris Kringle gift or a bottle of bubbly for your Xmas lunch.

Money saved by giving up alcohol for a week: $50

Christmas time spells plenty of opportunities to drink and be merry. There are work parties, catching up with old friends, and of course the big festive day itself! But before those occasions, why not sacrifice a little luxury and lay off the booze until then? Take inspiration from one Mozo staffer, who saved $200 by giving up alcohol for a whole month. Even if you gave up alcohol for just one week, you could potentially save $50.

TOTAL POTENTIAL SAVINGS: Up to $120

Extra tips for dropping a vice:

Swapping a vice like gluttony for a virtue like temperance is not easy. Use these simple tips to help you achieve your saving goals by Xmas.

– Set realistic goals and go for it. Bad habits die hard, so you don’t have to give up everything. If banishing your vice altogether is too ambitious, try cutting back instead. Just make sure your vice-ditching goals can be measured in dollars.

– Take on the challenge with a friend or your partner. Are you a competitive person? If you take on the Mozo Santa Saver Challenge this week with a partner in crime, you might have a better chance of success. Not to mention you can go through the journey together.  

– Keep track of your progress and be proud. If lists work for you, download this free app called CheckMark Goals on your phone to tick milestones off as you go. Better still, keep tabs on how much is being saved each time you beat the urge to spend on a vice and turn your cravings for take-away into a proud money saving moment.

Missed a week of our Santa Saver Challenge?

  • To get the sleigh rolling in Week 1 we revealed the benefits of stashing cash in a high interest savings account and switching to a $0 fee bank account.
  • Week 2 took us on a philosophical path with a bit of DIY gifting and buying nothing new to slash the Xmas bill.
  • Wouldn’t it be nice to kick back and enjoy an interest-free Xmas? Week 3 showed us exactly how, plus the savings to be made through cashing in on those hard-earned rewards points.
  • In Week 4 we became scavenger foodies and raided the pantry for creative dinner dishes and BYO lunches.
  • And last week was Week 5, a post-Xmas holiday dream come true with expert travel tips on avoiding hidden costs and cutting out extras.

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5 weeks ‘til Xmas: Saying goodbye to a vice was last modified: November 19, 2015 by Mozo

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