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Christmas Savings Plan (Australia)
A payday-by-payday Christmas savings plan so December is paid for in cash.
If a three-pay month falls before December, it can cover a big chunk. Start next year's plan in January.
Example: saving for next Christmas from January
| Pay frequency | Pays from late Jan | Per pay for A$1,300 |
|---|---|---|
| Weekly | about 47 | about A$27.66 |
| Fortnightly | about 24 | about A$54.17 |
| Monthly | 11 | about A$118.18 |
Example figures; exact pay counts depend on your dates.
Boosters
- Send part of a three-pay month to the fund (guide).
- Add part of any tax refund.
- Save on gifts bought in mid-year sales, if they're on the list.
This year, if you're starting late
Count the paydays left, set a total that fits, and cut the buckets (food, travel, extended family) rather than borrowing. Then set up next year's plan in January.
General information only, not financial or tax advice.
When should I start saving for Christmas?
January gives the most paydays, which makes each transfer smaller.
Where should I keep Christmas savings?
A separate no-fee savings account or bucket so it's not spent by accident.
I'm starting late, what now?
Set a smaller total that fits the paydays left and avoid credit.
Try it in an app
Party Budget Planner (A$19, one-off): Christmas parties, birthdays and get-togethers: budget, shopping list, guests and a countdown for each event.
Savings Challenge Tracker (A$19, one-off): Fun tick-off savings challenges: 52-week, reverse, 26-fortnight, 100 envelopes, Christmas and more, with badges.