How to save money and make friends this Christmas

As Canadian crooner Michael Buble once sang on his hit 2011 album, it’s beginning to look a lot like Christmas.

And while this means an abundance of tinsel, ham, and family reunions, Buble’s prescient prediction also marks grim times for our wallets, with December officially being one of the most expensive months of the year.

Money editor Dominic Powell and senior economics writer Jessica Irvine are hosting the new podcast It All Adds Up.Credit:Dominic Lorrimer

Between November and December, Australians are expected to spend $66 billion, according to estimates from the Australian Retailers Association, largely on food, alcohol, and toys.

This is a 6.4 per cent increase on last year, despite rising inflation and stagnant wages, meaning many of us might be stretching the Christmas kitty a little further than usual this year.

With that in mind, this week on It All Adds Up, we tackle some ways you can save some money this Christmas, from taking a low-key approach to gifting to thinking outside the box when it comes to wrapping paper.

We also round off on a few things we didn’t get time to touch on in last week’s episode about private health insurance, and Jess provides some hot tips for keeping on top of your subscription expenses.

Have a listen on all major podcast players, including Apple Podcasts and Spotify, and don’t forget to send in questions of your own to [email protected].

• Information given in this podcast is general in nature and is not intended to influence listeners’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions.

For more money saving tips and advice, sign up to receive the free weekly ‘Money with Jess’ email here.

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