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 - rates updated daily

Search promoted rewards credit cards below or do a full Mozo database search. Advertiser disclosure.
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    American Express Cashback Credit Card

    Enjoy up to 6% cashback on eligible purchases in the first three months. Additional 1.5% cashback with American Express Shop Small Campaign (conditions apply). Complimentary perks and insurances. Eligibility criteria and T&Cs apply.

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Cashback Rewards
    $120
    No current offer
    1 point uncapped
    Go to site
    Details
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    Westpac Altitude Platinum

    Earn up to 80,000 bonus Altitude Points, worth up to $350 of eGift cards ($3k min. spend in the first 90 days on eligible purchases). Enjoy up to 45 days interest free with a 0% balance transfer for 18 months (rate then reverts to 21.49% after). 1% BT fee. Only $99 annual card fee for the first year, $150 thereafter.

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Altitude Rewards
    $150 $99 in the first year
    80,000
    1 point uncapped
    Go to site
    Details
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    American Express Qantas Discovery Card

    Receive up to 1.75 Qantas Points for every $1 spent on Card purchases (T&Cs apply). No annual fee for the life of the card. T&C’s apply. Mozo Experts Choice Qantas Frequent Flyer Credit Card Winner 2020.

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $0
    No current offer
    0.75 points uncapped
    Go to site
    Details
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    NAB Qantas Rewards Signature Card

    NABs fastest way to earn Qantas Points. 110,000 bonus Qantas Points when you spend $3,000 on everyday purchases within 60 days of account opening and keep the card open for 12 months. Access to 6 complimentary insurances when you make eligible purchases.

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $395 $295 in the first year
    110,000
    1 point up to $5,000/month, then
    0.5 points up to $20,000/month
    Go to site
    Details
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    St.George Amplify Rewards Signature

    Earn up to 200,000 Bonus Amplify Rewards Points over 2 years (100k yr 1, 100k yr 2) when you spend $12k on eligible purchases each year. New cards only, Eligibility criteria and T&Cs apply. Offer ends 28th September 2021.

    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Rewards
    $279
    200,000
    1.5 points uncapped
    Go to site
    Details

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

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