Your December financial checklist: smart money moves to finish the year strong

December is one of the most expensive months of the year, but it’s also one of the best times to have a financial reset. A quick December check‑in can help you avoid credit card debt or Buy Now Pay Later pressure, improve your spending habits and stay in control of your financial situation. It’s the ideal moment to review your income, accounts and money goals so you start 2026 feeling organised and confident.

I want to share my top five tips to help you start the season feeling calm, confident and in control.

1. Do a financial health check

Every day is a good day for a money check‑up, but heading into the holidays is one of the most important times to pause, take stock and make a few simple tweaks that can have a lasting impact on your financial wellbeing. This is your chance to look honestly at your financial situation, your emergency fund, your credit cards and your spending habits before Christmas shopping ramps up.

How do you do a financial health check?

• Make sure you have a simple budget to guide your decisions over the next few weeks. Use our free Personal Budget Template to get started
• Assess your overall financial position, including income, expenses and seasonal costs
• Check whether you’re already carrying debt and what repayments look like heading into December
• If funds are tight, trim non-essential spending first
• Automate savings into an emergency fund. Aim for a $1,000 buffer and at least 3 months of income over time.

2. Find quick ways to save money right now

December is the perfect time to review your expenses because small changes can free up money fast.

How to audit subscriptions for instant savings

Forget paying for a subscription tracker, auditing your subscriptions is simple once you know how.

• Check your bank and credit card statements for all active subscriptions
• Group them by essentials and nice-to-haves
• Cancel anything unused or rarely used
• Downgngrade to cheaper plans or share with family
• Set a monthly reminder so renewals never slip through unnoticed.

For a more in-depth guide, read our blog on how to stop subscription creep.

How to compare Australian providers to save money

Stop overpaying on your bills. Use our free Get a Better Deal Checklist to quickly compare providers and find savings.

Common bills to compare include:

• Insurance: home, car, health
• Internet and phone plans
• Utilities: electricity and gas
• Gym memberships and security alarm plans.

If you’ve been putting off calling providers because you’re not sure what to say, these negotiation scripts will help guide the conversation:

• “Hi, I’ve been comparing prices and noticed I’m paying more than other providers. Are you able to match or beat this rate?”
• “My budget is tight. What can you do to help lower my monthly cost?”
• “I’ve been a loyal customer, are there any discounts or retention offers available?”
• “I’m reviewing all my bills before the new year. What’s the best offer you can give me today?”

A quick comparison really can make a big difference right before the holiday season.

Consumers are expected to spend nearly 14% more this holiday season, averaging around $1,140 per person.

 Deloitte

3. Create a Christmas budget

A Christmas budget keeps you in control during the busiest spending season of the year and helps you avoid relying on credit cards when holiday costs stack up. Here’s a simple way to start:

• Set a total festive budget that fits comfortably within your limits and aligns with your savings goals
• Allocate spending for gifts, food, travel and events, keeping the Christmas spirit without overspending
• Use our free Christmas Budget Calculator to itemise gifts, track weekly saving strategy targets and stay accountable with automatic transfers
• Track spending daily or weekly so nothing slips through the cracks
• Spend only what you can afford. If money feels tight, suggest a Secret Santa with agreed limits, one thoughtful gift per group is far more manageable than buying for everyone.

To read more, check out our full guide on creating a Christmas budget in under 30 minutes.

4. Set your financial goals for the year ahead

Setting clear financial goals gives you direction and purpose. It’s your chance to reset your finances after a busy year and build strong money habits for the next 12 months. Whether you want to save for an emergency fund, improve your savings goals, reduce credit card debt or finally save for a house deposit, this is your moment to map out a personalised strategy that supports your long‑term financial success.

I always say, “a goal without a plan is just a dream.” Now is the perfect time to decide what matters most to you and map out how you’ll achieve it.

Financial goals examples

• Building an emergency fund
• Paying off debt fast
• Saving for a house deposit
• Growing your retirement balance
• Planning for a baby
• Saving for a wedding.

How to set financial goals and achieve them

Setting financial goals starts with getting clear on your priorities. Think about the life you want in the next 12 months, then turn those ideas into simple, actionable steps. Use our free Goal Setting Template to map everything out in a way that feels organised and achievable. Even small habit changes, like automating your savings, can create powerful momentum heading into the new year.

5. Get support to budget, save money and reach your financial goals

If December feels overwhelming and you’re worried about covering Christmas costs, or slipping into credit card debt, support is available.

At MyBudget, we create realistic, tailored personal budgets that include your bills, savings goals, emergency fund, Christmas spending, long‑term financial goals and the personalised strategies you need to stay on track. Our budgeting services give you 12 months of visibility so Christmas is already planned for this year and every year after.

Imagine reaching December with every gift budgeted for, no last-minute panic and no credit cards required. Starting the new year without a financial hangover. That’s the difference a MyBudget plan can make.

If you want a little help putting all of this into action, give us a call on 1300 300 922 or enquire online today. We’re here to help you feel confident, organised and in control of your money all year round.