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More time at home means many Australians now have the opportunity to re-assess their lifestyle and spending habits and set some serious saving goals. So how can you actually go about it?

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In this episode of The nestegg Podcast, host Grace Ormsby is joined by Melbourne-based Reventon’s Billie Christofi to talk all things finance and the impact of isolation on our hip pockets.

In stage 4 lockdown, Billie shares the importance of going back to basics when it comes to budgeting, methods to re-assess spending habits, and some of the less conventional ways people can boost their wealth at this time.

Thanks Billie, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on an upcoming episode!

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Aussies tipped to spend $52bn this Christmas

By Cameron Micallef

November 19 2019
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Invest

Aussies tipped to spend $52bn this Christmas

By Cameron Micallef
November 19 2019

Australians are tipped to spend over $52 billion across retail stores during the Christmas trading period, according to new research.

Aussies tipped to spend $52bn this Christmas

By Cameron Micallef

November 19 2019
Share

Australians are tipped to spend over $52 billion across retail stores during the Christmas trading period, according to new research.

Roy Morgan’s annual Christmas retail sales forecast suggests spending will increase by 2.6 per cent from $51.4 billion of retail expenditure during the 2018 Christmas trading period.

Roy Morgan chief executive Michele Levine said, “Christmas retail spending forecasts predict a spending increase of 2.6 per cent in 2019.”

“This is slightly below the 2.8 per cent growth of a year ago, although it remains well above the current ABS inflation rate of 1.7 per cent,” she noted.

Growth in retail expenditure is predicted across all six categories measured, with spending on food expected to grow by 3.2 per cent from a year ago to nearly $21.7 billion.

Also set to grow strongly will be apparel, including clothing, footwear and accessories, up 3 per cent to almost $4.2 billion.

Hospitality businesses are forecast to grow by 2.3 per cent to an expenditure of well over $7.4 billion, and an impressive $8.8 billion is expected to be spent on household goods this Christmas, an increase of 0.6 per cent from a year ago.

Department stores are set to experience slower growth than other categories, up by 0.5 per cent, to overall spending of almost $3 billion.

Australians cutting back

While it’s predicted that Australians will spend more collectively, individuals are looking to cut back, according to St.George.

St.George’s Christmas Spending report, which surveyed 1,000 Australians, showed that:

43 per cent of households have agreed on spending limits
31 per cent plan to give few presents this year
Households have set themselves an average spending limit of $500 on gifts

nestegg previously reported that one in three Australians now considers Christmas to be the “most wasteful time of the year”.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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