Wise expert, Tristan Dakin, has shared some insider Christmas shopping hacks that will help you make the most of your holiday budget without breaking the bank.
"Aussie banks are making record-breaking profits this financial year as interest rates go up and banks are charging a lot more," says Dakin. "So try to avoid loading up your credit card as much as possible. When I try to save, it's an out of sight out of mind process. Consider automating or setting up a separate savings account to deposit some of your income, and you'll be better prepared."
Why Spending Overseas might be the Smart Choice
Alongside traditional budgeting, Dakin suggests considering spending your holiday abroad to take advantage of favorable exchange rates. "Don't make impulse purchases when you first see something. Take the time to shop around and explore overseas options with better exchange rates.
Many Australians have family overseas, and they often need to send money back home. By using a multi-currency card, you can save a significant amount on international transactions. Banks usually charge around 5-6% in exchange rate mark-ups and additional fees, but with a multi-currency card, Aussies can shop without worrying about these costs."
Mia Goreng, a marketing freelancer and content creator from Melbourne, shares her experience using a multi-currency card when buying presents for her family abroad. "The Wise card is great because there are no transaction fees," she explains. "When I buy from an overseas retailer, they deliver locally without the high delivery fees that come with shipping from Australia. And for everything I buy locally, I use the Shopback app. I earn cash back every time I make a purchase, from flights and hotels to retail items. On Black Friday, I got everything I needed through Shopback. I also compare cashback deals with Shopback to get the best savings."
With Christmas right around the corner, there are plenty of new ways to make the most of your money and shop smart during the holidays. So why not embrace these secret shopping hacks and enjoy the festive season without emptying your wallet?
