Your web browser is not actively supported by this site. For the best experience, update your browser, or switch to a modern browser like Google Chrome or Mozilla Firefox.

The Pinched Purse


The warmer days sees us breaching the confines of comfort and embrace the spoils of summer.  As our holiday bodies begin to make their comeback, generally our “purses” start getting a little bit tight.

This year, there’s been uncertainty amongst consumers due to interest rate rises and the cost-of-living pressures. Although summer is for many a favourite time of year, for some it can cause a bit of stress, so here are some money management tips to help with that pinched purse:


Tip 1: Spot the Splurge

We all know a few amongst us who have been guilty of the splurge. And in case you’re not familiar – to splurge is to spend money freely or extravagantly. Does that sound familiar?

With anything, the best first steps are to become aware of the habit – what triggers splurging for you? Becoming more aware can help you better navigate expense-driven and splurge-triggering situations. So that next time you go out for dinner with friends or to the shopping centre you can establish a game-plan prior to the event – such as setting a spend limit.


Tip 2: Impulse Spending

A new season (especially incoming holidays) can mean new outfits, new healthy trends, and new toys. We can be lured by the want to indulge in new things for many reasons. However, impulse spending can be easy to lose track of, and can sometimes quickly start stacking up.

By keeping a set budget specifically for impulse spending, we can set aside money on a regular basis and reshape this habit to align with the rest of our budgeting goals, minimise the impact on other bills, whilst also fulfilling that “I deserve feeling”.



Tip 3: Sustainable Approach

Considering a sustainable finance approach can have the potential to lower your spending. How so, you ask? Well, first, by thinking sustainably we can shift our ‘want’ impulses more into the ‘need’ territory – which can minimise the volume or rate at which we make purchases.

Some ideas could include avoiding purchases that create waste (such as Uber Eats/takeaway), travel alternatives to cars/cabs – like carpooling, riding your bike, public transport if it’s appropriate. Another idea is gifting second-hand items rather than brand new. There’s a whole world of things we can do to live and consume more sustainably. Think, how can you incorporate a sustainable finance approach to your spending?


Tip 4: Christmas Fund

A Christmas fund is a dedicated account that you don’t dip into until Christmas activities begin. We all know how much Christmas and the end of the year can really sneak up on us sometimes.

Categorising your expenses and separating them into multiple designated accounts achieves streamlining your budget and makes your financials easier to manage and track. So why not add a dedicated Christmas fund to your account set-up, or even a Christmas gift fund?

You could even go a step further for 2024 and open our Term Deposit account that could be locked until next summer, allowing your dedicated fund to accrue interest over the coming year before the next summer splurge season begins.

Money management can go along way when you become aware of your habits, needs and goals. To better manage your money, why not explore the current tools we have available for you such as our SCCU App, the money management tool Frollo or you can learn more at

No matter your summer plans, we hope you enjoy all the splendors this season has to offer. And if you have any other tips or tricks – comment on our post.



Southern Cross Credit Union Ltd 82 087 650 682 AFSL 241000. Any advice is general advice only and does not take into account your objectives, financial position or needs (your ‘circumstances’).


Your feedback helps save lives at Our Kids fo...

We are so grateful and proud to have our customers contribute their valuable time and provide open feedback in our annual Customer Satisfaction Survey. We take all comments seriously which allows us to gain deeper insights into opportunities for improvement and how we can all continue to shape, grow,...

We are so grateful and proud to have our customers contribute their valuable time and provide open feedback in...

Read More

Get started with an online loan application

Years of age

Years of age

Australian our NZ resident

Australian our NZ resident

Confirmed employment

Confirmed employment

If you'd like a little extra help, call our team on    1300 360 744.