Monday moneyvator: Enjoy Melbourne Cup 2015 without breaking the bank

Monday moneyvator: Enjoy Melbourne Cup 2015 without breaking the bank

For many Aussies, November 3 is officially when the social spending season begins. But before you whip out your wallet and splash out on everything from your Fashions on the Field attire to having a flutter, here are a few tips to help keep down the cost of the race that stops a nation:

1. Buy vintage accessories for Fashions on the Field

By now you probably already have your threads sorted for tomorrow’s big day but if you are planning on ducking to the shops for a Melbourne Cup hat, fascinator or tie, consider taking the sustainable approach and buying these items second hand at your local vinnies or salvos. You’ll avoid that awkward moment of bumping into a fellow racegoer wearing the same fashion piece and save yourself some coin that you can put towards more important things like your champers budget for the day…

3. Take the cash is king approach

Speaking of champers, after a few it may be tempting to make the call that “All drinks will be on me!” But a few rounds could quickly add up to a massive hole in your wallet by the end of the day. So before your mind is clouded by one two many beverages try the cash is king approach, where you withdraw a set amount of money from an ATM before you reach the track which will be your spending money for the day. Your bank balance will thank you the day after Melbourne Cup!

3. Be thrifty when making a flutter

While setting a budget is a good idea by taking cash, you don’t want to end up with no money for your transport home in the case you give in and spend more on wagers than intended. So if you’re going to make a bet at this year’s Melbourne Cup, consider putting in your pick before you hit the track through an online TAB. That way you won’t get caught up by the Melbourne Cup Day hype, skip the long betting lines and will still have enough money for your trip home.  

Of course, Melbourne Cup is just the beginning of the social season festivities. Read our Surviving the Social Season guide for more helpful tips.

Monday moneyvator: Enjoy Melbourne Cup 2015 without breaking the bank was last modified: November 5, 2015 by Rebeccah Elley

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