2.4 million Kiwis cutting Christmas costs
9 December, 2019, New Zealand – Kiwis are lowering their festive spend with a handful of savvy gifting hacks according to global comparison site Finder, which has recently launched in New Zealand.
A Finder survey of 2,117 respondents revealed that almost two-thirds (65%) of New Zealanders – equivalent to 2.4 million people – are planning to spend less on gifts this Christmas.
Around 31% will set a spending limit with loved ones, while 12% will make gifts by hand. One in ten (9%) will opt for Secret Santa and only buy for one person, rather than several.
Angus Kidman, Finder’s global editor-in-chief, said that more Kiwis are choosing to limit the financial onslaught of the festive season.
“The cost of Christmas presents can really pack a punch, especially if you’re buying for multiple people.
“There’s nothing worse than having to splash out on gifts for friends and relatives you hardly see. If you’re stressed about money this year, don’t feel obliged to play Santa,” he said.
Re-gifting (5%) and buying second hand presents (5%) are other popular ways Kiwis will be cutting back on costs this Christmas.
Women (16%) are twice as likely as men (8%) to make gifts by hand. Over a third of women (36%) will set a price limit with family and friends, compared to just 25% of men.
Kidman said that as the December deadline draws closer, shoppers are more likely to “panic buy” and spend more than they can afford.
“Be careful about what you put on the credit card over Christmas. You don’t want to start the new year drowning in post-festive debt.
“Keep an eye out for deals instead. The major November sales may be over, but there are still discounts to be found both online and instore.
“Even a discount of 10% or 20% can help to take the sting out of Christmas shopping,” Kidman said.
|How do you plan to cut costs on Christmas presents this year?|
|Set a price limit with family and friends||31%|
|Buy second-hand gifts||5%|
|I plan to spend the same||33%|
|I plan to spend more||2%|
|I don’t buy Christmas presents||15%|
Source: Finder, October 2019
How to spend less this Christmas
Freeze meals. Many of us over cater during the silly season. Freezing leftovers means you can avoid wasting food and and cut down your grocery spend over the coming weeks.
Don’t say yes to everything. From office drinks to end of year dinners, the holiday period is filled with social engagements. But these can be costly, especially if you’re eating out or buying drinks a couple of times per week. Remember that it’s ok to say no sometimes.
Use your vouchers. Everyone has a couple of unused gift vouchers lying around. Use them to purchase gifts. This will soften the blow of Christmas shopping, and prevents them from going to waste.