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’Tis the season to drain your bank account. The back end of December is an expensive time – and not just because of Christmas Day.

“A lot of people think, ‘Oh, it’s just food and gifts [you have to budget for]’. It’s not,” says Canna Campbell, a financial planner and author. “It’s travel. It’s babysitters. It’s alcohol. It’s taking a plate. It’s a new outfit. It’s so many other things. It can really add up.”

So, how can you get through all the celebrations, catch-ups and New Year’s revelry without blowing your budget? Here’s some advice.

1. Pause your gym membership. Going away over Christmas? Act now – most gyms require seven days’ notice to freeze your membership. Even if you’re staying put, many studios are closed on public holidays, meaning you’d get limited usage over the silly season anyway. And do you really plan to exercise on 27 December?

Are you really planning to exercise on 27 December? Photograph: Luis Alvarez/Getty Images

2. Try Uber Pool. “I know it’s kind of weird and uncomfortable but it’s also cost-saving,” says Carolina Gasolina, a DJ who is well versed in getting to and from events on the cheap.

3. Make your employer pay. Your workplace should be paying for your cabs to and from the office Christmas party, says Victoria Devine, a podcaster and author of books like She’s on the Money. “If your work wants you to go to your Christmas party and they’re serving alcohol, from my perspective, there is an obligation to make sure you get home safely.” So ask for cab charges – or if the party has already happened, have a conversation with your boss about being able to expense your ride home.

Let work pick up the tab. Photograph: AzmanL/Getty Images

4. … and then make them pay some more. You should also chat to your employer about being able to expense any costs associated with getting to industry-related events at this time of year.

5. Keep your receipts. For anything vaguely work-related your boss won’t pay for, hold on to your receipts and claim it at tax time.

6. Own it. “If you’re on a tight budget, let people know” so that your friends can plan around it, says Campbell. It’s not worth starting 2025 with a financial hangover out of social obligation.

7. Choose the venue. Or if you’re worried about how much that dinner out is going to cost but are afraid to speak up, take the reins and book the restaurant so you can pick somewhere comfortably within your price range.

8. Designate a driver. Want to avoid dreaded surge pricing? Go retro and take turns playing designated driver with your friends, says Campbell. It’s a ye olde concept known as taking one for the team.

Go retro and take turns playing designated driver. Photograph: Kala Studio/Getty Images

9. Fill up for less. If you draw the desi driver short straw, make sure you’re getting the cheapest possible fuel. Prices can vary by as much as 40 cents per litre in the same suburb, but apps such as FuelCheck (in New South Wales), Petrol Spy and MotorMouth make it easy to find the lowest petrol near you.

10. Outfit repeat. “There’s nothing wrong with repeating your outfits, so don’t feel pressured to buy something new for every single Christmas party or outing,” says Gasolina. “No one really cares as much as you do.”

11. Or outfit swap. If you’ve got a bunch of fancy events and really want something new to wear, organise a fun clothes swap with friends the same size as you.

12. Go selectively sober: Got a packed schedule of Christmas parties? Save your boozing for events with an open bar, and otherwise, drink in moderation or not at all. It doesn’t have to be sad: “If you’re sober-inclined, pink lemonade is awesome,” says Gasolina. “You’ll get a high from the sugar rush.”

13. Cancel your streaming subscriptions. If you’re going to be out and about every night, you’re probably not going to have time for that Netflix marathon. And streamers will often try to lure you back with cut-price rates, so you might even be able to resubscribe later for less.

Cancel the babysitter and move the party to the park. Photograph: StockPlanets/Getty Images

14. Bring the kids. If you’re planning last-minute catch-ups with friends, “encourage family-friendly activities so that you don’t have to pay for a babysitter,” says Campbell. Think: the park, the beach, the bowls club.

15. Find free events. If you’re after more cheap ways to hang out with friends before the end of the year, look up local gigs – there are always a bunch of free shows over summer, says Gasolina.

16. Reschedule. If all else fails, don’t be afraid to reschedule for January or February. “I don’t particularly understand the need to catch up before Christmas. Let’s catch up afterwards. I haven’t seen you in six months anyway. What’s another three weeks?” says Devine. You’ll still spend money on going out, but it might be better for your budget to do it later.

Packed schedule? Meet up in January or February instead. Photograph: We Are/Getty Images

17. Stay in on New Year’s Eve. If you haven’t already planned (and paid for) a New Year’s Eve party, offer to host your own, make guests BYO, or persuade a nearby friend to throw one instead. Bonus points if they have a nice house.

18. Plan for next year. Has this Christmas been a source of financial stress? Start building a silly season 2025 fund by opening a new bank account and setting up a recurring $10 or $20 weekly transfer into it. You’ll thank yourself later.

“If you save $20 a week, you’re going to end up with just over $1,000 in your Christmas fund,” says Devine. “So, I think, while we are feeling the pressure right now, we can actually set ourselves up for success next year.”

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