Aussies still planning to spend up this Christmas despite the cost of living crisis, survey reveals
It's the time of the year we start thinking about Christmas shopping.
With the holiday season just around the corner, lists have been made and present buying is in full swing.
But with the cost of living crisis, Christmas budgets might be looking a bit different this year.
To find out how this financial pressure is impacting Australians' spending plans for Christmas, 9honey surveyed its readers on how their festive budget for 2023 compares to previous years.
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Most Aussies are spending the same or less this Christmas. Getty Images/iStockphoto
While more than a third of 9honey readers say they're "just managing" financially, 38 per cent say they are feeling the pressure of increased costs.
But the financial strain isn't entirely impeding on their plans to celebrate over Christmas, as 54 per cent confirmed they still will spend the same amount of money on presents as they did in 2022.
9Honey cost of living survey revealed Aussie spending habits this Christmas. Nine/ Supplied/ Polly Hanning
And 13 per cent are planning to spend even more than they did the year before.
For a third, however, the cost of living has put a real dent in the Christmas savings and they have decided to cut back on spending.
So how much are Aussies willing to spend on Christmas gifts this year?
The majority of Aussies – 85 per cent – have plans to buy Christmas gifts, with a third falling in the $100 to $499 bracket.
This appeared to be the most common spending total for those under 45.
While fewer seemed to plan to spend between $500 and $999 on gifts, this was higher among women and households with children.
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Majority of Aussies are spending up to $500 on gifts. Nine/ Supplied/ Polly Hanning
When it comes to spending the big bucks this Christmas, just one in five plan to spend $1000 or more on present buying.
This was a particularly popular budget for households with children, with 32 per cent allocating over a grand to their Christmas spending.
On the other end of the scale, a budget of less than $100 was popular with men.
While fewer said they weren't going to spend any money at all on Christmas gifts, 19 per cent of men and other households revealed they were opting for a smaller budget this year in the cost of living crisis.
