As November arrives with startling speed, many Australians are already feeling the financial pressure of the approaching festive season. Perth-based money commentator Sarah Wells offers timely advice to help recalibrate spending habits before Christmas celebrations begin.
The 'No'vember Mindset
Wells suggests rebranding November as 'No'vember, using these crucial weeks to shift focus and develop strategies for managing financial stress. The key, she emphasises, is learning to say no to things you don't truly want or need in December.
Much festive spending stems from other people's expectations, and successfully navigating this can create a much more enjoyable lead-up to the holidays. From questioning whether you need that new office party outfit to reconsidering expensive gifts, Wells encourages practical thinking over impulsive spending.
Seven Rules for Financial Success
Wells outlines seven straightforward rules to ensure financial wellbeing through the festive period and beyond:
Be present about presents: Set a strict gift budget and stick to it religiously. Alternatively, start a Secret Santa tradition in your family to reduce the financial burden.
Donate unused items: Seeing the money you've wasted on unused possessions in your closet can be a powerful motivator to rethink current spending habits.
Write beautiful cards: A simple, heartfelt card often means more than an expensive present and tends to be kept much longer by recipients.
Avoid expensive holidays: If you can't afford that fancy getaway without using credit, reconsider and plan something closer to home instead.
Leave credit cards at home: Resist the temptation of festive season advertising. That temporary dopamine hit isn't worth the financial hangover that follows.
Give quality time: Spending meaningful time with loved ones costs nothing and often represents the greatest gift you can offer family members.
Pay with cash: You'll be amazed how much this simple discipline can help rein in excessive festive spending.
The Golden Rule: Spend Only What You Have
Wells's fundamental advice remains straightforward: don't spend money you don't have. While it might sound simple, this principle forms the foundation of sound financial management.
Credit cards, while useful in emergencies, can become recipes for disaster unless managed with extreme responsibility. The hangover from overspending during Christmas can linger well into the new year, creating stress that nobody needs.
Rather than trying to keep up with others, Wells recommends enjoying what you can genuinely afford. This approach ensures you'll begin 2026 feeling happy, healthy, and financially secure rather than burdened by debt regrets.
By implementing these seven practical tips, Australians can navigate the festive season with financial confidence and start the new year with a positive money outlook.
