If you’re already feeling the holiday spirit or if you’re dreading the impending Christmas expenses, this conversation is a must-listen. Sonshine’s Table Talk host Leah and financial expert Elson Goh dive into the nitty-gritty of holiday spending and how to stay financially savvy during this festive season.

Aussies are on track to spend nearly as much as last year despite the cost of living increases, which was a whopping 66 billion dollars! So what are some strategies to save money on presents? Leah and Elson discussed the idea of a Secret Santa, setting spending limits, and even the charm of homemade gifts. They emphasise that the real value of gifts often comes from the thought and effort put into them.

Elson took us on a deep dive into the costs of Christmas dinner, detailing what a typical festive meal might include. This year’s projected cost per person for Christmas dinner is $55, up from $52 last year, but not as dramatic as the 11% increase in 2022. Leah raises the important question of how to plan for these expenses. Elson advises us to start setting money aside now and suggests taking advantage of specials and discounts throughout the year.

This conversation provides valuable insights into the costs associated with Christmas and practical tips for planning ahead and staying within budget. Whether you’re eager to embrace the holiday season or preparing to navigate the financial hurdles, this discussion is a must-listen. So, tune in to Sonshine’s Table Talk to get the full scoop on Christmas spending and budgeting wisdom. Don’t miss out on the juicy details and helpful advice that can make your holiday season merrier and more financially stress-free.

Elson Goh, from EG Financial Services, has been in the financial planning profession for more than two decades, having previously worked with major banks and boutique firms. He is a Certified Financial Planner™ and Life Risk Specialist® with the Financial Advice Association Australia (FAAA) and has lectured at Curtin University for more than two decades.