How much do people spend at Christmas?

How much do people spend at Christmas?

For many Australian families, Christmas is a time for family, friends and gift giving.

With festive purchases like food, entertainment and presents, it’s the season of spending for the average Australian.

But how much do Aussies really spend at Christmas?

How much are Australians spending over the holidays?

Spending certainly goes up over the Christmas season, with gifts being the biggest instigators for the spending rise.

Commonwealth Bank’s 2017 research found that Australians are set to spend $11 billion over the Christmas season. The study found that men and women tend to have different buying habits when it comes to gift giving. While 76 per cent of women start shopping at least a month before Christmas, 23 per cent of men will leave shopping until just a few days before Christmas.

However, it’s not just gifts that cause the spending swell. Australians also spend millions on entertaining. In 2016, New South Wales residents spent an average of $399 – $242 on entertaining friends at home and $157 on extra food and drinks outside the home.

What’s the average amount spent per person?

The average spend across Australia for Christmas gifts is sitting at $593 per person according to Commonwealth Bank’s 2017 study.

However, the research also found that spending varied from state to state. South Australia and Northern Territory spend the most on Christmas gifts, followed by Victoria and Tasmania. Queensland rounds out the bottom of the list, spending an average of $508 per person for Christmas gifts.

Should I set a budget for my Christmas spending?

Setting a budget for your Christmas gifts is essential if you want to prevent over-spending. To begin your budget, you’ll first want to make a list of everyone you plan to buy for before you head to the mall. Assign a budget to each gift, and don’t forget to add those pesky extras like wrapping, bows or postage if you need to mail any gifts.

After you’ve set your budget, the last step is sticking to it. The best way to stay on track is to only consider gifts within your price range, and not to be tempted by products that will blow your budget.

Beyond gifts, you’ll also want to budget for entertainment over the holiday season. If you’re hosting a barbecue or Christmas dinner, decide how much you’re willing to spend on food and drinks. A comprehensive budget will help you stay within budget throughout the entire season.

Christmas might be the season for family and friends, but it’s also the season for spending. Don’t forget to set your budget and stick to it, and, of course, enjoy the holiday season.

Did you find this helpful? Why not share this article?



Money Health Newsletter

Subscribe for news, tips and expert opinions to help you make smarter financial decisions

By submitting this form, you agree to the RateCity Privacy Policy, Terms of Use and Disclaimer.

Based on your details, you can compare the following Bank Accounts


Learn more about bank accounts

How do you open a bank account under 18?

If you’re under 18 and you want to open an Australian bank account, you will need your passport or birth certificate. (Some lenders might require just a Medicare card or driver’s licence.) You can apply online or at a branch. If you’re 13 or under, you will probably need a parent to accompany you to a branch.

How can you cash a cheque without a bank account?

You can cash a cheque without a bank account if you visit the bank that issued the cheque. For example, if somebody sends you a cheque from Bank X (as written on the cheque) and you visit Bank X, it’s likely that Bank X will let you cash the cheque – provided the person who wrote the cheque has enough money in their account. Bank X would probably charge you a fee for the service.

How can I check my bank account balance online?

Checking your bank account balance online is a simple process. Once you’ve logged in to your online banking, clock on the relevant account and the balance should be visible.

How can I wire money to a bank account?

You can wire money to an Australian bank account either through your own bank or by using a money transfer company such as Western Union or MoneyGram. Either way, you’ll need the other person’s name, BSB number and account number. If you use a money transfer company, you might also need to provide the recipient’s address for large payments.

Can you get a payday loan without a bank account?

Yes. Some payday lenders are willing to transfer loans to prepaid debit cards instead of bank accounts.

Do you need a bank account to sell on eBay?

You don’t need a bank account to sell on eBay. But if you don’t have a bank account, you must provide either a credit card or debit card.

Can I find my bank account number online?

Yes, you can find your bank account number by logging into your online banking and clicking on the relevant account.

Can you open a bank account at 16?

Yes, you can open a bank account at 16, or even younger. If you’re 13 or under, you will probably need a parent to accompany you to a branch.

Can foreigners open bank accounts in Australia?

Many Australian lenders allow foreigners to open bank accounts in Australia. Often, this can be done before you arrive in the country – with no Australian address required. When you get to Australia, you can pick up your debit card, using your passport as identification.

Can I have a PayPal account without a bank account?

You don’t need a bank account to send or receive money through PayPal. However, you do need a bank account if you want to withdraw money from your PayPal account.

How do you deposit change into your bank account?

One way to deposit change into your bank account is to visit a branch. Many lenders will also allow you to deposit your change through one of their ATMs.

What do I need to open a company bank account?

To open a company bank account, you will probably have to provide 100 points of ID, an ABN and an ACN. You will probably have to provide the details of all signatories as well.

How do you transfer money from PayPal to a bank account?

Transferring money from PayPal to an Australian bank account is simple. Just follow these three steps:

  • Go to your Wallet
  • Click ‘Transfer Money’
  • Follow the instructions

The money will take three to seven business days to reach your bank account.

Once you’ve made the transfer request, it can’t be withdrawn.

Can I start a bank account online?

Yes, most lenders that operate in Australia will let you set up a bank account online. The process is usually simple and takes five to 10 minutes. You will probably need to provide a passport or birth certificate, as well as a driver’s licence, Medicare card or another form of secondary identification. Requirements differ from lender to lender, so some institutions might ask for more or different forms of ID.