Industry super fund-owned bank ME has simple tips to help you avoid a financial squeeze this Christmas.

  1. Plan ahead
    Decide who you’d like to buy a gift for, allocate a set sum, and then stick to your list to stay within your festive budget.
  2. Give a group gift
    Around 21 million unwanted gifts are handed out each Christmas[1]. Rather than throwing money away on low value stocking stuffers, get together with friends or family to buy a single quality gift and coordinate it through apps like Giftster[2].
  3. Pocket a discount on gift cards
    People use classified sites like Gumtree to offer unwanted gift cards at heavily reduced prices or alternatively, associations offer discounts – for instance, the National Seniors Australia offers a 10% saving on gift cards.
  4. Save on festive fizz
    Add some budget-friendly bubbly to your Christmas lunch by stock up with online auctioneers like Grays, where a bottle of Veuve Clicquot can cost less than $50 compared to $65 through some retail outlets.
  5. Earn cash for shopping
    Cashback websites like Cashrewards[3], Shopback[4] and Cashback Club[5] let you earn cash back on purchases. As a guide, Cashrewards recently offered 25% off selected dresses at Forever New with 4.20% cash back.
  6. Plan how you’ll pay
    Last year, Australians were lumbered with post-Christmas credit card debt averaging $1,863 per person. One in four cardholders said it could take 12 months to pay the balance off[6].

Plan your spending beforehand, aim to pay with cash, and only put purchases on a credit card that you can comfortably pay off before interest charges kick in.

Following these simple steps can help you avoid carrying the cost of Christmas well into the New Year, so you can head into 2020 with a clean financial slate.

This article is brought to you by ME. For more information, please visit

Members Equity Bank Limited ABN 56 070 887 679 AFSL and Australian Credit Licence 229500.


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