The holiday season is a time of joy and giving, but it can also put a strain on your finances. After the festivities come to an end, many people find
themselves facing post-holiday debt and financial stress. However, with a little planning and discipline, you can navigate this period successfully
and start the new year on a strong financial footing.

Assess Your Holiday Spending

The first step to post-holiday financial recovery is to assess how much you spent during the holidays. Look at your credit card statements, receipts, and
bills. Understanding your expenses will help you gain clarity and set realistic financial goals for the year ahead.

Create a Post-Holiday Budget

Once you've evaluated your holiday spending, create a post-holiday budget. Allocate your income to cover essential expenses like rent or mortgage, utilities, and groceries, and then set aside funds to pay off any holiday debt. Be sure to factor in savings as well, even if it's a small amount.

MOVE Bank’s budget planner can make this task quick and easy. Try it out at

Prioritise Debt Repayment

If you accumulated holiday debt, make it a priority to pay it off. High-interest credit card debt can quickly snowball, so consider creating a debt repayment plan. Focus on paying off high-interest debt first while making minimum payments on lower-interest loans.

Set Realistic Financial Goals

Setting achievable financial goals is essential. Instead of aiming for drastic changes, make small, sustainable adjustments. Maybe you can reduce
dining out, limit impulse purchases, or shop for discounts and sales. Small savings can add up over time. For tips on how to save money without
sacrificing fun or quality, check out this article at

Automate Savings

Automating your savings is a great way to ensure you're consistently setting money aside. Consider setting up a salary credit that goes directly into your MOVE Bank savings account every payday. Even a small amount can grow into a significant sum over time. You can set this up by completing the
Salary Credit Bank Account Details form available at​ and provide it to your employer.

Build an Emergency Fund

Having an emergency fund is crucial to financial stability. Start by setting aside a portion of your savings to create or replenish an emergency fund.
This fund can help you cover unexpected expenses without going into debt.

Opening a bonus interest savings account such as MOVE Bank’s Growth Saver is a great place to start. As long as you meet the deposit criteria each month, you will earn bonus interest that will help you grow your savings even more and reach your emergency fund goal sooner.

Alternatively, if you are looking for certainty in your return and have the capacity to lock away some savings, a term deposit could be an option to consider. With a MOVE Bank term deposit, you can start with as little as $5,000 and choose a term from 3 to 24 months. For terms longer than 12 months you can even choose to have your interest paid monthly into your nominated account. For more information, visit

Plan for the Next Holiday Season

Finally, start planning for the next holiday season early. Create a dedicated savings account for holiday expenses and contribute to it throughout the year. This way, you'll be better prepared when the holidays roll around again.

Mastering the art of budgeting and saving money after the holiday season requires discipline, planning, and setting realistic financial goals. By assessing your spending, creating a post-holiday budget, and prioritising debt repayment, you can regain control of your finances and set the stage for a prosperous new year. Remember, it's the small, consistent efforts that lead to financial success in the long run.

This blog post is for general information purposes only and is not intended as financial or professional advice. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product or other professional advice. You should seek your own independent financial, legal and taxation advice before making any decision about any action in relation to the material in this article. ​