6 ways to plan ahead for Christmas to help you save

By Gabriella Margerison · · 2 min read
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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.

Compare Travel Insurance

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?

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 252 savings accounts using the filters.
Last updated 25 December 2024 Important disclosures

Savings account comparisons on Mozo

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    Bonus variable rate is available for the first 4 months.
    Standard rate
    5.00 % p.a.
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    Enjoy a high interest savings account with no account keeping fees to pay. Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace. Multiple 2024 Mozo Experts Choice Award winner.

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    Maximum rate
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    New customers receive an introductory bonus 0.70% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
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    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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    Maximum rate
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    Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^

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    Maximum rate
    5.40 % p.a.
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    New customers receive an introductory bonus 0.70% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
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    Enjoy the flexibility to access your funds with no monthly deposit requirements or lock-in terms. No ING fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^

  • Savings Account

    Maximum rate
    5.35 % p.a.
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    Bonus variable rate is available for the first 4 months.
    Standard rate
    5.00 % p.a.
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    Enjoy a high interest savings account with no account keeping fees to pay. Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace. Multiple 2024 Mozo Experts Choice Award winner.

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    Maximum rate
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    Earn a great variable rate each month when you meet the criteria. No need to lock your savings away. Move your money in and out and still earn interest. Transfer or make payments using our mobile app or internet banking. No minimum balance required. Rest easy knowing total deposits up to $250,000 are protected by the Financial Claims Scheme.

  • Savings+Bonus

    Maximum rate
    5.00 % p.a.
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    Minimum $100 monthly deposit and no withdrawals to earn bonus interest each month.
    Standard rate
    2.00 % p.a.
    (for $1 to $250,000)
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    Enjoy bonus interest when you deposit $100 or more per month and make no withdrawals. Access your money at any time via internet banking or our mobile app. Maximum balance $250,000 to receive bonus interest.

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    Earn bonus interest on your savings for the first four months from the date you open the account, even if you make withdrawals. Transfer or make payments using our mobile app or internet banking. No minimum balance required. Rest easy knowing total deposits up to $250,000 are protected by the Financial Claims Scheme.

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    Maximum rate
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    Increase account balance by any amount and make no more than two withdrawals
    Standard rate
    0.05 % p.a.
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    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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