Tips for Stretching Your Holiday Budget

In this blog, we’ll look at ways to make your money go a little further so you can enjoy the festivities without the financial hangover.

Here’s a few tips & tricks:

School Holidays: can you reduce childcare costs by sharing the load with family or friends or tag team with other parents to take turns looking after the kids? 

To keep them entertained, check out the free school holiday activities available in your area available at libraries and other local businesses.

Out and about: take advantage of summer (weather permitting) and meet friends at the local beach or park for a picnic or a Kiwi classic, fish and chips rather than frequenting restaurants. You could even sneak in some exercise with a walk, swim, or bike ride! 

Travelling: can you reduce accommodation costs by staying with friends or family or perhaps sharing accommodation (like an Airbnb) – ideally with a BBQ or cooking facilities. 

Driving: where possible reduce petrol costs by sharing a ride- it’s more fun with friends!

Entertaining: while it’s tempting to be the ‘hostess (or host) with the mostest’, why not share the load and get everyone to contribute a plate, ingredients, or beverages? Not a fan of the traditional potluck? No problem, why not make it a themed event (for example, Mexican) or perhaps a pizza night where everyone brings a ingredient? 

Gifting: set realistic expectations with family and friends by agreeing on a spending limit that fits within everyone’s budget, and consider getting everyone involved with Secret Santa – where each person is responsible for one gift, up to a certain dollar amount. 

Get Creative: if your gift list exceeds your budget, consider a thoughtful gesture – homemade treats or Christmas decorations, a batch of your famous sauce or herb/seasoning mixtures, or perhaps you have a photo of a shared memory – whatever will let them know you’re thinking of them – and remember sometimes your presence is more than enough. 

Shop carefully: while the holiday season is a great time to take advantage of sales, it’s easy to be tempted to break the budget with an impulse purchase. Before hitting the shops, make a shopping list and stay focused on it. If something else catches your attention – take note and think about it overnight or at least while you finish your shopping list! 

Remember the holidays are about spending time together and making memories, but that doesn’t mean you can’t join in the fun (responsibly). Setting a holiday budget can help to list all expected expenses to prioritise and allocate available money so that you can be festive without the financial hangover.

But even the best budget won’t work if you don’t stick to it. NZHL has tools to support our clients in taking control of their finances and staying on track. 

Not an NZHL client? Try keeping track with a spreadsheet or even a notebook, and if you’re questioning how your spending will impact your financial goals (like paying down your home loan) your local Mortgage Mentor can help!

Considering a switch from your current home loan provider? Check out our Mortgage Calculator to see how much you could save and what could be possible with NZHL

Please note –This blog is intended to be general in nature and should not replace personalised financial advice by your mortgage adviser.