The Cost Of Christmas: Kiwis Set To Spend $5.4 Billion This Festive Season

News highlights:

• The average Kiwi is expected to fork out $1,467 this holiday season
• Travel and gifts top the list of festive expenses
• How to cut back on costs this Christmas

20 December 2022, New Zealand – Kiwis are splashing out this holiday season, according to new research from global comparison site Finder.

The average person is set to spend a whopping $1,467 this Christmas, for a total national outlay of $5.4 billion, according to a new nationally representative survey of 1,120 respondents.

Travel and gifts top the list of festive expenses, with Kiwis expected to splurge $439 each on accommodation/flights, and $411 on presents.

Men ($1,515) are on average set to fork out slightly more than women ($1,424).

Angus Kidman, Finder’s editor-at-large in New Zealand, urged Kiwis to avoid going into debt this festive season.

“Christmas is a notoriously expensive time of year – and soaring inflation and cost of living pressures will make it even more difficult for many.

“Expensive gifts, holiday decorations and Christmas lunch can easily blow your December budget. Think twice before you splash out.”

Finder’s research shows Kiwis will be well-fed this Christmas, spending $273 each on groceries, and $123 on eating out.

Some will be having a boozy Christmas, with alcohol expected to cost the average person $86. 
Gen Z will be the biggest spenders this festive season, forking out on average $1,553, while Millennials will spend the least ($1,329).

Kidman said it was a good idea to set a budget before Christmas.

“Festive fun isn’t worth financial strain in 2023.

“Set a price limit on gifts. You could also suggest each family member buys a present for just one other person.

“Reconsider whether you need to deck the house with ornaments and lights. You can be kinder to your wallet and the environment – and save yourself the post-Christmas cleanup – by ditching the disposable decorations this year.

“Remember it’s not about how much money you spend. Families can replace gifts with options like acts of service or a picnic in the park,” Kidman said.

How to cut back on costs this Christmas:
Stick to a budget. Work out what you can afford to spend and stick to it. There are plenty of ways to celebrate the holidays while keeping within your means. Do a Kris Kringle and only buy for one person, regift items you never use (provided they’re in good condition) or make your gifts by hand. Writing a list of everyone you need to buy for in the lead up to Christmas can also help you keep track of your purchases.
Get creative. Try something new this year and make your gifts at home. A homemade photo album is a sentimental and affordable gift for a loved one, and home baked sweets and treats are a great addition to a Christmas lunch. While you’re at it, get thrifty by using recycled newspaper instead of buying wrapping paper. If you have children, they’ll love getting artsy on presents with you.
Be sensible with credit. To avoid a December budget blowout, only swipe your credit card if you know you can repay the money. The last thing you want is to start out the New Year in the red. If you’re already in a pickle with your credit card, consider a balance transfer. This type of credit card lets you transfer your existing debt with an interest-free period of up to 6 months, allowing you time to pay off your card. 
Share the load. Hosting Christmas lunch is a pricey endeavour, especially if you have a large family. Instead of providing food and alcohol on your own, ask each guest to bring their own plate to share. This could save you up to hundreds of dollars, and you’ll appreciate spending less time preparing food and more time celebrating with your loved ones.

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