How to enjoy the summer holidays on a budget
![Group walking by the sea, planning a summer holiday budget.](https://cdn.mozo.com.au/images/atwood/11576/group-walking-on-beach.jpg)
December heralds parties, presents and good cheer. But anyone who plays Christmas host or commits to innumerable secret santas knows all this festive fun adds up.
In 2019, Suncorp found the average Aussie’s celebration budget was $1,013. While shoppers and partiers are expected to rein in Christmas spending this year, even half of last year’s figure could cut into a holiday budget significantly.
So, if you are trying to factor in a bit of fun during the silliest of seasons, you might have to get creative with how you approach spending beyond the big public holidays.
To help you get into holiday mode without draining your savings account, we’ve come up with a few tactics to help you pursue wallet-friendly adventures.
Request experiences for Christmas this year
We know ripping gaudy gift wrapping off presents makes for a joyful Christmas morn, but you may not need another pair of socks or a third pack of Cadbury Favourites. Conversely, demanding cash can feel a little grinchy.
Instead, ask your nearest and dearest to pick out fun activities you could do together over the summer and throw a giftcard your way. Collect vouchers to spas, surf schools, cinemas, theme parks and restaurants, and you’ve suddenly got great summer adventures up your sleeve.
Just make sure they’re experiences-for-two or that you have a buddy willing to fork out the cash to join you. Heading to Wet’n’Wild solo just doesn’t feel right.
Invest in fun, don’t rent it
Yes, buying a kayak or snorkel and flipper set may cost more off the bat than renting them for the day. But if you’re looking at your budget long term it’ll work out cheaper (assuming you regularly have a paddle or snork).
A quick search across sites like eBay, Gumtree or Facebook Marketplace can help you find pre-loved adventure items to bring the price down even further.
Experiment with summer deals
Instead of following the crowds to Westfield for Boxing Day sales, peruse the internet for free or cheap trials. There are a heap of online food and wine delivery services, fitness classes and entertainment subscriptions vying for your holiday attention.
So, take advantage of their generous first-month offers and trials. Just remember to call it quits before any cut-off payment dates if it’s not your cup of tea.
Follow the free road to adventure
It’s an oldie but a goodie: choose the free option. As long as you’re armed with sunscreen and drinking water, summer is the ideal time for beach days, bush walks and bike rides.
Back it up with cool-down movie arvos at home and watermelon dinners and you’ll barely spend a cent. If you’re a city dweller or live in a popular tourist spot, coastal paths and secluded spots will likely be packed, so you may need to factor in travel costs to avoid a mass of sweaty holidaymakers.
Find the best way to save
Make extra holiday spending money by ensuring you’re getting a top rate on your savings. Interest rates aren’t particularly hot right now, but there are still things you can do to be a proactive saver and earn as much interest as possible.
Start by comparing some of the high interest savings accounts below.
High interest savings accounts
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Mozo experts choice awards won:
- High Interest Savings - 2024
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
0.55% p.a.(for $0 and over)
Yes up to $250,000
For customers who have an Orange Everyday account, deposit $1000 into a personal ING account, make 5 eligible transactions and grow their nominated Savings Maximiser account each month.
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.^
CompareCompareSavings Maximiser
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.^
- Maximum rate
- 5.50% p.a. (for $0 to $100,000)
- standard interest rate
- 0.55% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- For customers who deposit $1000 from an external source into a personal ING account (excluding Orange One and Living Super), make 5 eligible transactions and grow their nominated Savings Maximiser account each month so there is more in the account at the end of the month than there was at the start of each month (excluding interest). The total bonus interest rate is available on balances up to $100,000 on one Savings Maximiser the next month after meeting eligibility.
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must be linked to an Orange Everyday transaction account to receive the bonus rate. Where multiple Savings Maximiser Accounts are held, the bonus rate is only applied to one nominated account.
Read our Mozo Review to learn more about the ING Savings Maximiser
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Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
CompareCompareReward Saver Account
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
- Maximum rate
- 5.25% p.a. (for $0 to $1,000,000)
- standard interest rate
- 0% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
- Access
- ATM, EFTPOS, Visa Debit, Cheque book, BPay, Branch access, Phone banking, Internet banking, Bank@Post
- Minimum balance
- $0.00
- Other restrictions
- -
Read our Mozo Review to learn more about the IMB Bank Reward Saver Account
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Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Bonus variable rate is available for the first 4 months.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2024 Mozo Experts Choice Award winner.
CompareCompareSavings Account
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2024 Mozo Experts Choice Award winner.
- Maximum rate
- 5.35% p.a. (for $0 to $250,000)
- standard interest rate
- 4.75% p.a.(for $0 to $1,000,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus variable rate is available for the first 4 months.
- Access
- BPay, Branch access, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must have a Macquarie Transaction Account to link with.
Read our Mozo Review to learn more about the Macquarie Savings Account
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Mozo experts choice awards won:
- Kick Start Savings - 2024
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Bonus rate for the first 4 months from account opening
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account. No Account keeping fees. No minimum balance. Support Aussie farmers with every dollar you save.
CompareCompareHigh Interest Savings Account
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account. No Account keeping fees. No minimum balance. Support Aussie farmers with every dollar you save.
- Maximum rate
- 5.75% p.a. (for $0 to $250,001)
- standard interest rate
- 4.40% p.a.(for $0 to $250,001)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus rate for the first 4 months from account opening, reverting to standard variable rate. Rate shown is for Personal customers and is subject to change. Different rates apply to Business/SMSF customers.
- Access
- Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account
Read our Mozo Review to learn more about the Rabobank High Interest Savings Account
Your selected savings accounts
Your selected savings accounts
Your selected savings accounts
Your selected savings accounts
^See information about the Mozo Experts Choice Savings Account Awards
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