Media Release

Most Aussies surveyed (65%) rein in holiday spending this year, according to new research.

New research from comparison service iSelect reveals that most Aussies are choosing more budget-friendly gifts this year, with more than half skipping big-ticket items.

Sophie Ryan, iSelect comparison expert, said the study found that of the 65% of Aussies who say they don’t plan on making large Christmas purchases, almost a third are trying to save money (29%) while 12% can barely afford living expenses, let alone pricey Christmas presents.¹Source: iSelect commissioned i-Link Research to conduct an online survey between 14th to 19th November 2024. The sample is n=1,545 Australians.  The data is weighted to represent the population by age, state and gender, and is representative of all Australian adults 18+. 

“While it’s completely understandable that many Aussies are being careful with their cash, the research found that one generation in particular is still willing to splash out,” she said. 

“The study found that of those planning Baby Boomers were the generation least likely to be making any big purchases but were still expected to spend an average of $1,042.50, the highest out of any age group surveyed.”²Source: iSelect commissioned i-Link Research to conduct an online survey between 14th to 19th November 2024. The sample is n=1,545 Australians.  The data is weighted to represent the population by age, state and gender, and is representative of all Australian adults 18+. 

Sophie added that Millennials are expecting to spend $801.70, Gen X is planning to shell out around $654.20, and Gen Z is the most frugal this festive season, spending $571.10 on average, according to the survey.³Source: iSelect commissioned i-Link Research to conduct an online survey between 14th to 19th November 2024. The sample is n=1,545 Australians.  The data is weighted to represent the population by age, state and gender, and is representative of all Australian adults 18+. 

“Of course, it’s always the thought that counts when it comes to gift-giving, but many Aussies could ease their budgets by exploring other ways to save to their hard-earned cash instead of cutting back on Christmas presents,” she said.  

“Economic uncertainty is still a major concern, and many households continue to struggle with cost increases across the board, including electricity, gas, and insurances,” Sophie explained.   

“Reviewing these common bills and expenses to see if you could switch and save could be a great way to ease the budget pressure this festive season.” 

“Many people fall into the ‘set and forget’ trap when it comes to insurance and utility plans, or they might think their ‘loyalty’ is rewarded. Unfortunately, that’s not always true,” Sophie added.    

“We know this time of the year can be extremely busy, and the last thing you probably have time to do is to compare household expenses,” 

“A comparison service such as iSelect can do the work for you. Whether it’s your energy plan, health or car insurance policy, iSelect’s comparison experts can compare a range of plans and policies to see if there’s a better deal, saving you time and effort.” 

– ENDS –