PAST SERVICE DOES NOT GUARANTEE FUTURE FINANCIAL ADVICE
November 9, 2026
HOW MUCH IS ENOUGH?
November 9, 2026
End-of-year parties, school holidays and family get-togethers all happen in the same few weeks. Here’s how we suggest you plan for them, with some tools from our website to help.
The cost of living is already stretching most budgets. Many of us also face travel and sometimes a new posting, and partners may need to take unpaid time off. Festive season costs add up fast, and planning gives you more choices when January arrives. If you see a financial tight spot coming, help is available.
Start with a plan and a budget
Write down what’s coming: where you’ll be, food and drink, gifts, events, and school holiday costs if you have children. Then put a dollar figure on each. Include the extras that catch people out, like eating out while you travel or boarding the dog.
Add it up and divide by the number of pays left before the end of December. That gives a rough amount to put aside each pay, if your budget allows. If it looks too high, go back to your list and trim. Track what you spend as you go, whether that’s an app, a spreadsheet or pen and paper. If trimming still doesn’t make it work, there is support available.
Two of our tools make this quicker.
- The budget calculator is easy to update: download the Excel version and change it whenever your circumstances do.
- The pennysaver savings calculator helps you save towards a goal, festive season included.
- To learn more about how goal setting and budgeting are linked, see our Goal Setting video.
Travelling or posting before the New Year
Book flights and accommodation early, because the cheaper fares sell out first. Check the refund policy before you commit. A year-end posting adds overlapping housing, final school term fees and peak travel prices to the usual festive season spend.
Shop smart and keep the receipt
Start with a gift list: who, what, and roughly how much. It keeps your shopping focused and stops you forgetting anyone. Compare prices at a few retailers before you buy, and shop early so there’s time for delivery.
Sales only save you money on things you were going to buy anyway, so stick to your list. Black Friday on Friday 27 November 2026 and Cyber Monday on Monday 30 November 2026 may be opportunities to save if you’ve planned beforehand. Before buying from an unfamiliar online store, check its returns policy, location and reviews. Be wary of a page full of near-identical 5-star ratings.
Under the Australian Consumer Law, the seller must offer you a repair, replacement or refund if a product is faulty. A change of mind doesn’t qualify, so ask about the store’s policy before you buy. Gift recipients have the same rights if they hold the receipt.
Credit cards and buy now pay later
Credit cards and buy now pay later (BNPL) can make holidays seem affordable, because the bill arrives later. If you use them, check that the payments fit your budget. Late and missed BNPL payments attract fees, and those fees add up.
A few things are worth knowing before you sign up.
- Providers may run credit checks.
- Providers may report missed payments to credit reporting agencies, which can affect your credit score.
- BNPL debts can count against you when you apply for a loan, and may reduce how much you can borrow.
- Terms differ between providers, so read the fine print.
The less credit you use, the less there is to repay.
Scams can catch busy people
Are you busy, excited and expecting parcels? Scammers know this too. Keep an eye out for:
Whatever the scam, the advice is much the same. Pause before you click, and type the retailer’s address into your browser yourself. Check the seller’s reviews, and treat a deal that looks too good to be true as one that probably is. Be wary of anyone demanding payment by gift card.
Want to practise spotting scams? Try IDCARE’s Scam Resilience and Cyber Awareness Quiz. If you think you’ve been scammed, contact your bank straight away and report it to Scamwatch, which lists more alerts.
Start the New Year right
After heavy credit use, paying off high-interest debts before starting new savings goals can make sense. One approach is to list your debts and cover the minimum repayments. If there is any spare cash, it can go towards the debt with the highest interest rate.
Then refresh your budget, because income and expenses change over time. The budget calculator makes that quick and accurate. Next, set a savings goal and work out how long it will take. The pennysaver savings calculator can show you what a little each pay adds up to.
Where to get support
If the season gets heavy, support is available from:
- the Defence Member and Family Services Helpline on 1800 624 608 (open 24/7)
- the Defence Veteran and Family Wellbeing Agency’s Find a service search for veterans and their families
- the National Debt Helpline on 1800 007 007 for everyone
- our Immediate Money Help resources
- us by email at [email protected] for answers to financial education questions.
Have a safe, happy and affordable festive season!
