With one in five Australians admitting that the Christmas season is the most financially stressful point in the calendar, a large chunk of us are stashing away cash over an entire year to fund it.
This is according to a new study done by popular accommodation sharing platform Airbnb, that found that 36% of respondents claimed that they had to save money all year in order to be able to afford the greater cost of the holiday season.
It also found that 30% admitted that they double their usual spending monthly budget for Christmas, and 17% plan to spend up to $3,000 just on gifts and entertainment.
That’s plenty to stress about, especially if your aren’t financially prepared for it.
Unfortunately, it’s no secret that Aussie savers have taken a few hits since the three RBA official cash rate cuts this year, with many savings accounts providers dropping rates below 2.00%.
While you may have missed the boat on earning higher interest on your Christmas stash, there’s no reason that you shouldn’t gift yourself with a more competitive savings account now so that you can hit the New Year running.
To lend you a hand, we’ve wrapped up a few savings accounts that still offer rates over 2.00%, so that you can put a bow on the account that suits you.