Christmas is just around the corner and the costs are already adding up for many of us.
The latest Centrix credit report shows increased demand for Buy Now Pay Later services and personal loans ahead of the festive season, while Stats NZ data shows the cost of living increased 3.8 percent for the average household in the 12 months to September
RNZ has some money-saving hacks to help you avoid being in the red this Christmas.
Christmas gifts
Victoria Harris from money podcast The Curve. Photo: Supplied
Victoria Harris from money podcast The Curve advised people not to leave Christmas gifts to the last minute.
She recommended starting early and taking advantage of the sales ahead of Christmas, such as Labour Day or Black Friday.
"Plan out a budget which gives you the flexibility to spend within your means without causing a whole lot of stress," Harris said.
While expensive and high-tech gadgets might be on the wish list, they might be out of budget for some people.
Harris encouraged people to put thought into their gifts, not just money.
"We do get caught up with always having to have the biggest, most lavish extravagant gifts," she said.
But she said creating or crafting a special gift for someone could have more meaningful and save you money.
"I know for me personally that the heartfelt, thoughtful gift goes a lot further than than an expensive gift," she said.
Harris also recommended getting behind Secret Santa as a way to have a fun gift exchange without breaking the bank.
But if you did have any unwanted gifts, reselling them on Trade Me was a Boxing Day tradition of sorts.
Christmas dinner
Chef at Miss Lucy's in Auckland Ben Ong. Photo: Supplied
Ben Ong, chef at Miss Lucy's in Auckland, said Christmas was about spending time with family and friends.
He encouraged bringing everyone together with a pot-luck dinner and all sharing in the food.
Some of his top tips for an affordable Christmas dinner included opting for meats like chicken and lamb that were cheaper than the traditional turkey.
He also recommended using fresh in-season vegetable such as asparagus and tomatoes.
Roast potatoes were also on his must-have list. "You can never go wrong with roast potatoes," he said.
If you were after some fancier fare on a budget, Ong had a festive twist on the classic smashed avocado toast.
Ong said using crostinis instead of toast made it an ideal canapé, and adding cherry tomatoes on top gave it a festive flare.
Christmas holiday
Flight Centre New Zealand general manager Heidi Gardner Photo: Supplied
If you were wanting to travel over the Christmas break, Flight Centre New Zealand general manager Heidi Gardner said planning early was key.
"I think one of the myths that exists is if you wait until the last minute you might be able to get a really good fare. Unfortunately, that's just not the market that we're in."
Gardner said being flexible on when and where you travel were also ways to travel cheaper.
"Perhaps your heart set on going to a certain location," she said. "But a travel expert can quite often recommend an alternative location which might be more within your budget."
Gardner said travelling when other people might not be wanting to travel as much, whether that was at less desirable hours such as early mornings or late nights or outside peak travel dates, was also a way to find cheaper fares.
"The 24th of December is by far one of the trickiest dates in the calendar to travel but perhaps you can hit off and take some leave earlier and leave on Friday the 13th of December, for example."
If sticking to a set budget, Gardner said another option to consider was tours and cruises, where a lot of the cost was paid upfront before you travelled.
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