How to get savvy with present buying and still feel the joy of gift-giving

Do you love the feeling you get when you buy a present for your friends, family members or even furr-kids? Well it turns out you’re not alone, in fact as a nation us Aussies are pretty generous folk, spending a whopping $19.8 billion on gifts every year.

A recent study by the Financial Planning Association of Australia shows that 85% of us love giving more than receiving, but despite our nation’s generous heart, we’re not particularly savvy when it comes to budgeting for these thoughtful presents. 

In fact three out of four Aussies don’t budget for gifts at all, meaning that billions of hard earned household dollars are being spent every year without any planning. As FPA CEO, Dante De Gori said, there’s “an obvious opportunity to increase our nation's financial literacy and awareness of the benefits of budgeting, financial planning, and giving in a way that brings joy without debt or regret”.

RELATED ARTICLE: How do I redeem credit card rewards points?

So how can you get more savvy when it comes to gift giving?

Put more planning into your gift giving: give yourself a set budget for birthdays, weddings, Christmas and even spontaneous present buying. 

One way to buy presents and keep to a budget is to think about giving in a more sustainable and conscientious way. Why not give an experience rather than a thing? Or you could get involved in the circular economy and re-gift an item that you no longer have any use for or reuse wrapping paper and gift bags. Not only will your bank account benefit, but so will the planet.

Set up a savings account purely for gift giving: you could even set up a separate account to keep track of what you’re spending on presents.

 Setting up a savings account dedicated to all those spontaneous presents could help you think about how much you’re spending on gifts every year, every month or even every week. If you put a certain amount into your savings account once a month then you can keep track of how much you’re spending and better budget for all those special occasions throughout the year.

Invest in a rewards credit card: with a rewards credit card you can treat your loved ones without putting a dent in your finances, honestly it’s a win win. 

Research shows that cash and gift cards are becoming Australia’s go-to gift for all occasions, including birthdays, Christmas and weddings. 

With a rewards credit card you can earn points with your daily expenses, from purchasing groceries to booking flights for your next holiday. Once you have accrued enough points you can convert them into a gift card for you to gift to your friends and family. 

As most rewards cards come with an annual fee be sure to weigh up the cost with the yearly rewards, to figure out what card would benefit you the most. 

If you’re keen to start getting more savvy with your present buying why not head over to our rewards credit cards comparison page to see what what card would best suit your spending style and help you bag some sweet gift cards.

Compare rewards credit cards - last updated 30 October 2024

Search promoted rewards credit cards below or do a full Mozo database search. Advertiser disclosure
  • Citi Rewards - Rewards Points Offer

    Citi Rewards Program

    $199 $99 in the first year

    100,000

    1 point up to $10,000/month

    100,000 bonus Citi reward Points when you spend $5,000 on eligible purchases within 3 months from approval. That’s $400 when you Pay with Points! Earn up to 1 Citi reward Point per $1 on eligible transactions. Access up to 3 months complimentary International Travel Insurance and up to 14 days Domestic Travel Insurance with a Citi Rewards Credit Card when meeting eligibility criteria. Apply for a credit limit from $2,000 up to $100,000. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.

    Compare
    Details
  • Apply By 14 Jan 2025
    American Express Qantas Ultimate Card

    Qantas Frequent Flyer

    $450

    50,000

    1.25 points up to 100,000 points/year, then
    1 point uncapped

    Receive 50,000 bonus Qantas Points when you apply online by 14 January 2025, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.

    Compare
    Details
  • Kogan Money Black Card

    Kogan Rewards Points

    $0

    No current offer

    1 point uncapped

    Get 0% p.a. on purchases and balance transfers for 9 months with a 1% balance transfer fee. Reverts to cash advance rate. $0 annual fee to pay. Earn 2 rewards points per dollar on your eligible purchases at Kogan.com & 1 rewards point per dollar on your everyday purchases, almost anywhere (T&Cs apply). FREE Kogan First membership valued at $129/year. Add up to 4 additional cardholders at no cost.

    Compare
    Details
  • Citi Rewards - Balance Transfer and Purchases offer

    Citi Rewards Program

    $199

    No current offer

    1 point up to $10,000/month

    Enjoy 0% p.a. for 15 months on purchases and balance transfers. Balance transfer reverts to cash advance rate. Earn up to 1 Citi reward Point per $1 on eligible transactions. Access up to 3 months complimentary International Travel Insurance and up to 14 days Domestic Travel Insurance with a Citi Rewards Credit Card when meeting eligibility criteria. Apply for a credit limit from $2,000 up to $100,000. Balance transfer fee applies. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.

    Compare
    Details
  • Apply By 3 Dec 2024
    American Express Essential® Rewards Credit Card

    Membership Rewards

    $108

    60,000

    1 point uncapped

    Receive 60,000 Membership Rewards® Bonus Points* when you apply online through the link on this page by 3 December 2024, are approved and spend $3,000 on eligible purchases on your new American Express Essential Rewards® Credit Card within the first 3 months. T&Cs apply. New American Express Card Members only.

    Compare
    Details


^See information about the Mozo Experts Choice Rewards Credit Card Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.