The ultimate guide to Christmas shopping on a budget
From creating a Christmas savings plan to shopping early and using DIY Christmas gift ideas, planning ahead with MyBudget is the secret to enjoying Christmas on a budget, stress-free and without the financial hangover.
Christmas! ‘Tis the season to be jolly, but if you’re not careful, Christmas spending can spiral out of control like a runaway sleigh. Let’s face it, Christmas can be an expensive time. However, with a bit of foresight and planning, MyBudget is here to ensure you enjoy the festive season without dreading your January bank statement.
Why is it important to budget for Christmas?
Creating a Christmas budget is crucial to avoiding a post-holiday financial hangover. It allows you to focus on what truly matters, spending quality time with loved ones, without the stress of overspending. A well-planned budget also ensures you can fully embrace the holiday spirit, knowing each gift and festive treat is accounted for. Ultimately, the greatest gift you can give yourself is a stress-free Christmas!
How to budget for Christmas in Australia
A great way to help you create a Christmas shopping list and budget is by downloading our Christmas Budget Template, which is designed to streamline your holiday planning. Simply input your expenses and budget allocations, and watch as it calculates how much you need to save. Use this handy tool to adjust your spending and create a Christmas budget that’s both practical and achievable.
We all start the Christmas season with the best intentions of finishing our shopping early, but somehow find ourselves in a last-minute frenzy a week before the big day. The good news is that with a few months ahead of us, now is the perfect opportunity to get ahead of the game and conquer this festive season with a solid budget. So, if you’re already thinking about Christmas, we’ve got some fantastic saving tips just for you.
How can I create a Christmas budget?
Starting early gives you the space to plan ahead and stay in control of Christmas expenses. Begin by breaking your total Christmas budget into manageable weekly amounts so you always know what you can afford and avoid relying on Buy Now Pay Later services like Afterpay.
Here’s how to build a Christmas budget that actually works:
- Decide how much to spend on gifts: work out your total gift budget, then divide it by the number of weeks you have between now and Christmas to keep your budget realistic and achievable
- Include every holiday cost: don’t forget travel, food, decorations, events, donations and any little extras that tend to creep in
- Automate transfers: set up a separate Christmas account so your budget stays untouched until you need it
- Check in weekly: review your progress and make small adjustments to stay on track
Use MyBudget’s free Christmas Budget Calculator to create a Christmas budget in under 30 minutes.
How much should I spend on Christmas?
How much to budget for Christmas overall
Start by setting a realistic spending limit that fits comfortably within your financial means. Remember to always prioritise essential bills over any Christmas expenses. The first step is understanding your overall expenses. Do you have a budget for daily life? If you don’t, it’s ok! Our free Personal Budget Template will help get you started.
Once you’ve figured out what you can afford to spend on Christmas, it’s time for the fun part, planning gifts!
How much to budget for Christmas gifts and presents
It’s not only Santa who needs a list at Christmas time. To keep yourself on track, start by creating a clear list of:
- who you need to get gifts for
- what you’re getting them, and
- how much you have to spend on each person.
Regardless of your method, ensure every expense is accounted for to avoid last-minute panic buys and maintain control over your spending.
What should I buy for Mum and Dad for Christmas?
Focus on thoughtful, practical and budget-friendly ideas that match their interests and fit comfortably within your Christmas budget. Here are some simple, budget-friendly ideas to help you find the perfect gifts for Mum and Dad this festive season.
Christmas gift ideas for mum on a budget
- Pamper gifts: candles, skincare minis, herbal teas or a DIY at-home spa kit
- Practical gifts: planners, insulated mugs, or high-quality slippers
- Sentimental gifts: framed photos, memory books or personalised ornaments
- Experience gifts: movie tickets, an art class or a simple at-home high tea with her friends.
Christmas gift ideas for dad on a budget
- DIY gifts: homemade spice rubs, framed kids’ artwork or a home-cooked breakfast
- Low‑cost practical gifts: socks, caps, tools, tech accessories or a personalised key ring
- Experience gifts: footy tickets, kayak or paddleboard hire or a go-karting session
- Hobby‑based gifts: car cleaning kits, camping items or sports accessories.
Plan ahead using your free MyBudget Christmas Budget Calculator to keep track of the gifts you need to buy and ensure you stay within your spending limit. It helps you stay organised, avoid last-minute rush purchases, and make sure you never go over budget.
How can I find more money to save for the holidays?
Don’t go into debt this Christmas using credit cards and buy now, pay later services. Finding extra money hiding in your spending habits is a great way to save for the Christmas holidays.
- Go over your bank statements for the last few months and highlight any overspending areas. Even little changes can help to free up spare cash for your Christmas savings
- Are you expecting a tax refund? As soon as your refund hits your account, consider setting some, or all of it aside
- If you’re struggling to stay on top of your bills, it may be time to talk with your creditors about payment arrangements you can afford.
Did you know? A MyBudget Money Coach can help you create a budget and can even negotiate with your creditors for you.
How do I automate my Christmas savings?
Automate your Christmas savings by setting up a dedicated account just for the festive season. For MyBudget clients, integrating this into your budget may already be streamlined, but it’s always wise to touch base with your Money Coach for any tweaks.
If you are not a MyBudget client, most banking apps make it easy-peasy with automation features that can divert a portion of your earnings straight into a savings account. This ensures your holiday funds stay untapped until you’re ready to jingle all the way to the checkout, making budgeting a breeze.
Use the free MyBudget Savings Calculator to help you plan, track and reach your savings goals.
What are the best Christmas saving tips?
- Set a spending limit on gifts
- Shop the sales
- Find online discounts and cashback
- Say “No” sometimes
- Avoid debt and credit cards
- DIY Christmas gift ideas on a budget.
Looking for more budget Christmas gift ideas? Check out MyBudget’s top 15 Christmas stocking stuffers!
When should I start Christmas shopping?
Get ahead with your Christmas shopping by taking advantage of sales events like Afterpay Day sales and Black Friday. Starting early not only ensures your online purchases arrive in plenty of time but also keeps you from making impulse purchases. For budget-friendly gifts, explore Marketplace for gently used bikes, toys, fashion items, or even furniture. Choosing preloved items not only saves money but also adds a unique touch to your holiday gifts.
How do I manage Christmas expectations?
Instead of feeling the pressure to match past festive overspending, it’s smart to openly discuss budgeting within the whole family. You’re not alone in wanting to manage your holiday budget sensibly. By setting equal price limits and sharing financial expectations, everyone can enjoy the Christmas season without unnecessary strain.
What if my income changes over Christmas?
If your workplace shuts down for Christmas and you’re facing unpaid leave, it’s crucial to factor these changes into your holiday budget. This way, you’re prepared for any financial dips during the festive season, keeping your financial plans on track.
Also, when buying gifts, remember the Old English proverb: “Cut your coat according to your cloth,” emphasising the importance of living within your means.
How can I share the Christmas load and save money?
Divide and conquer this Christmas by divvying up the tasks among your nearest and dearest.
- Coordinate Christmas meals: have each person contribute their specialty dish
- Secret Santa: enjoy thoughtful gift-giving without the stress of buying for everyone individually
- Decorate as a group: assign different areas of the house to your loved ones to spread festive cheer
- Joint gift-giving: pool resources for larger items, enabling meaningful gifts that everyone can enjoy together.
See how to budget for Christmas lunch under $100.
What other Christmas expenses should I include in my budget?
There are lots of unexpected Christmas expenses that can sneak up on even the most organised. Beyond gifts, here are a few additional costs to keep in mind as you plan your Christmas celebrations:
- Christmas cards and postage
- Festive feasts and extra groceries
- Travel expenses
- Decorations and gift wrapping
- Charitable donations
- Utilities and electricity for lights
- Special clothing or party outfits
- Pet sitting
- Unexpected guests.
How can MyBudget make Christmas budgeting simple?
What a whirlwind of festive frugality! As we inch closer to the holiday season, remember – starting now can make all the difference. Whether you’re wondering how to budget Christmas presents or how much to budget for Christmas gifts, planning ahead helps. And hey, if you find yourself overwhelmed with setting up your budget or unsure where to start. Enquire online or give MyBudget a jingle on 1300 300 922 and we’ll help you sleigh your financial goals!
FAQs
How do I budget for Christmas shopping?
Create a Christmas budget by listing all holiday expenses, setting a spending limit and breaking it into weekly savings. Track gift spending, compare prices, shop early and avoid credit card debt. A clear plan helps you stay on budget and reduce Christmas financial stress.
How can I save money on Christmas gifts?
Set a gift-spending limit per person, shop sales, compare prices and use a list to avoid impulse buys. Consider DIY gifts, experience gifts or second-hand items to stretch your Christmas budget further. Planning early helps lower holiday costs and prevent overspending.
How do I avoid overspending or going into debt at Christmas?
Start with a realistic Christmas budget, track every purchase and stick to your spending limits. Avoid Buy Now, Pay Later, reduce unnecessary costs and choose lower-cost gift options. Focusing on your budget helps protect your savings and prevents Christmas debt.
What is MyBudget?
MyBudget is one of Australia’s most trusted budgeting and money-management services. For over 25 years, we’ve helped more than 130,000 Australians create personalised budgets, reduce debt, build savings, and reach their financial goals. We combine expert money coaching with powerful technology to organise your expenses, pay bills on time, reduce credit card debt and take the stress out of managing money. MyBudget can help you build a plan that supports your long-term financial wellbeing.
What makes MyBudget different?
MyBudget combines expert financial coaching with smart technology to give you a personalised money management system that makes budgeting easier. Unlike traditional budget apps or budget spreadsheets that you manage on your own, we help you organise bills, reduce debt, plan for future expenses, build savings and stay accountable. We can even negotiate with your creditors for you. With more than 25 years of experience, our team guides and supports you every step of the way so you can finally feel in control of your finances.
What can I expect at a FREE MyBudget appointment?
Your MyBudget journey begins with an initial conversation with one of our Money Experts. They will chat to you about your financial position and gain an understanding of the financial goals you want to achieve. Once we have this snapshot, we will connect you with your very own Personal Budgeting Specialist. We can arrange a time convenient to you (and your partner where relevant). At that session we create a customised 12-month Personal Budget Plan that is yours to keep for FREE! This budget plan provides you with a detailed understanding of how, together with the support of MyBudget, you can live a life free from money worries and achieve your financial goals.
