Australians are set to spend $1.6 billion less this Christmas as rising living costs strain budgets, new data reveals.
Finder’s research shows the average Australian plans to spend $1,357 on Christmas, down from $1,479 in 2023.
This eight per cent drop reflects tighter budgets, with households cutting $122 from their festive spending.
Gifts remain a key expense, with Australians projected to spend $359 each, totaling $7.5 billion nationwide.
Food and dining also feature prominently, with $244 planned for food and $173 for going out.
Interestingly, dining out is expected to rise by 30 per cent compared to last year.
Finder’s Sarah Megginson advises setting a realistic budget and exploring alternatives like Secret Santa or homemade gifts.
Simple savings tips, like reducing other expenses or setting spending limits, can help ease financial pressure this season.
