6 ways to plan ahead for Christmas to help you save

Ready to sleigh Christmas spending this year? While the festive season is quickly creeping in on us, getting ahead of holiday planning is the best way to avoid budget blowouts and it could mean more cash for all the things you want to enjoy. 

From clever budgeting tricks to early-bird gift strategies, here’s how to get festive without losing sight of your financial goals.

1. Start a Christmas budget asap!

Create a budget that includes everything from gifts and travel to Christmas dinner and those little extras, like decorations. Aim to set aside a small amount weekly, so when the festive fun arrives, you’ve got a nice cushion ready to go. Need a hand? Our budgeting tool can help map out a spending plan in a flash.

2. Lock in your travel early

December is peak travel season, so the sooner you book, the better. Whether it's flights, accommodation, or a car hire, securing travel plans early can help you avoid hefty last-minute fees. Even setting alerts for fare deals can mean snagging cheaper rates! And don’t forget travel insurance; compare policies early to cover your bases without overspending.

3. Create a gift list and start sale searching

Instead of braving the holiday rush, list everyone you’ll need gifts for, along with some present ideas. Then, keep an eye out for pre-Christmas sales, like Black Friday or Cyber Monday, and start ticking off your list without the December scramble.

4. Avoid holiday debt with a dedicated savings account

A great way to steer clear of debt is to set up a savings account just for holiday spending. Consider a high-interest account to get a little boost on your savings and pop in regular deposits so you’ll be ready when it’s time to spend. 

5. Go DIY for décor and gifts

Embrace the magic of a handmade Christmas! From DIY decorations to baked treats as gifts, a little creativity can go a long way. Pinterest and YouTube are your best friends here, loaded with ideas that look just as good as the store-bought versions without the price tag. Plus, a personalised, handmade touch can be more meaningful than anything you can buy.

6. Keep track of spending to avoid surprises

It’s easy to get swept up in Christmas shopping and forget your budget. Keep a running list of expenses, whether it’s a spreadsheet or a simple note on your phone. This helps you stay on top of costs and avoid any nasty surprises come January, when we’re all nursing that dreaded Christmas spending hangover.

A little planning can go a long way in keeping the festive cheer alive without stretching your budget. So this year, why not make a list, check it twice, and compare savings accounts below to help you get there?

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Last updated 7 November 2024 Important disclosures

Savings account comparisons on Mozo

  • PremiumSaver

    Standard rate
    1.45 % p.a.
    (for $0 and over)
    Maximum rate
    5.35 % p.a.
    (for $0 to $250,001)
    Increase balance by $200 by the end of each month
    Go to site

    Reward yourself with a higher rate for your good savings habits. Rabobanks’s PremiumSaver is simple - receive the maximum rate when you grow your balance by at least $200 each month (T&Cs apply). Plus, your savings help our Aussie farmers produce the food we love to enjoy.

  • Online Savings Account

    Standard rate
    1.00 % p.a.
    (for $0 and over)
    Maximum rate
    5.20 % p.a.
    (for $0 and over)
    Bonus rate for the first 3 months from account opening.
    Go to site

    Complement your banking with an introductory bonus rate offer. Earn additional bonus interest for the first 3 months. No minimum monthly deposit required to earn interest. No account keeping fees. No minimum opening balance. Manage your account 24/7 using the app.

  • Smart Saver Account

    Standard rate
    0.05 % p.a.
    (for $0 and over)
    Maximum rate
    4.50 % p.a.
    (for $0 and over)
    Increase account balance by any amount and make no more than two withdrawals
    Go to site

    Work towards your savings goals with this account. Earn bonus interest when you grow your balance and make no more than 2 withdrawals each month. Earn a guaranteed standard rate of interest each month on your savings. No monthly account keeping fees to pay. Use the app or internet banking to manage your account 24/7.


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