6 ways to plan ahead for Christmas to help you save

By Gabriella Margerison · · 2 min read
Fact Checked
Advertiser disclosure

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?

Last updated 14 July 2025 Important disclosures
  • Promoted

    Savvy Saver Account

    Maximum rate
    4.90 % p.a.
    (for $0 to $100,001)
    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
    Standard rate
    0.45 % p.a.
    (for $0 and over)
    Go to site
    • No minimum balance required
    • Move money in and out and still earn interest
    • Transfer or make payments using the mobile app
  • Promoted

    Boss Saver

    Maximum rate
    4.90 % p.a.
    (for $0 to $100,001)
    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
    Standard rate
    0.45 % p.a.
    (for $0 and over)
    Go to site
    • Ongoing bonus interest when you meet conditions
    • No minimum balance, ongoing fees or withdrawal penalties
    • Manage your money easily on the BCU Bank app

  • High Interest Savings Account

    Maximum rate
    5.15 % p.a.
    (for $0 to $250,001)
    Bonus rate for the first 4 months from account opening
    Standard rate
    3.70 % p.a.
    (for $0 to $250,001)
    Go to site
    • Easy set up, online and mobile banking app
    • No fees, no minimum balance, no minimum monthly deposit and no minimum term
    • Kick start your savings with the 4 month introductory variable rate

  • Life - 18-29 years old

    Maximum rate
    5.00 % p.a.
    (for $0 to $30,000)
    Make 5 eligible card purchases per month with a linked Westpac Choice account, make one eligible deposit and grow the balance each month. Account balance must not fall below $0.
    Standard rate
    0.40 % p.a.
    (for $0 and over)
    Go to site
    • $0 monthly fees for account holders under 30 or full-time tertiary students
    • Separate spending and saving for simple money management
    • Use the debit card linked to your Choice account 5+ times per month for Spend&Save bonus interest on eligible purchases.

  • Savings Accelerator

    Maximum rate
    4.95 % p.a.
    (for $150,000 to $500,000)
    New customers who open an account after June 9 2025 receive an introductory bonus 0.75% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
    Standard rate
    2.35 % p.a.
    (for $0 to $50,000)
    Go to site
    • No monthly deposit requirements or lock-in terms
    • No ongoing fees
    • Experts Choice Awards Highly Commended Everyday & Savings Bank 2025^

  • Boss Saver

    Maximum rate
    4.90 % p.a.
    (for $0 to $100,001)
    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
    Standard rate
    0.45 % p.a.
    (for $0 and over)
    Go to site
    • Ongoing bonus interest when you meet conditions
    • No minimum balance, ongoing fees or withdrawal penalties
    • Manage your money easily on the BCU Bank app

  • Savvy Saver Account

    Maximum rate
    4.90 % p.a.
    (for $0 to $100,001)
    Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
    Standard rate
    0.45 % p.a.
    (for $0 and over)
    Go to site
    • No minimum balance required
    • Move money in and out and still earn interest
    • Transfer or make payments using the mobile app

  • High Interest Save Account

    Maximum rate
    4.85 % p.a.
    (for $0 to $100,000)
    Deposit at least $500 to either Spend, Bills or Save account from an external source each month.
    Standard rate
    0.00 % p.a.
    (for $0 and over)
    Go to site
    • No monthly fees on any of your save accounts
    • Split your money with up to 10 Save accounts.
    • Set savings targets and track on the app

  • Life

    Maximum rate
    4.50 % p.a.
    (for $0 and over)
    Minimum one deposit and higher balance than at the beginning of the month
    Standard rate
    0.40 % p.a.
    (for $0 and over)
    Go to site
    • $0 monthly fees for account 18 years or older
    • Separate spending and saving for simple money management
    • Use the debit card linked to your Choice account 5+ times per month for Spend&Save bonus interest on eligible purchases.

  • Bonus Saver

    Maximum rate
    4.50 % p.a.
    (for $0 and over)
    Standard rate
    0.20 % p.a.
    (for $0 and over)
    Go to site
    • Bonus interest for the first four months
    • No minimum balance, ongoing fees or withdrawal penalties
    • Manage your money easily on the BCU Bank app

  • Hi Saver

    Maximum rate
    4.50 % p.a.
    (for $0 and over)
    Bonus rate for the first 4 months from account opening
    Standard rate
    0.20 % p.a.
    (for $0 and over)
    Go to site
    • Earn bonus interest for the first four months
    • No Minimum balance required
    • Transfer or make payments using the mobile app
Showing 9 results from 248 savings accounts. Use the filters to see more

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.