To get things started, think about this question. “If you received an unexpected $25,000 bonus in December, how would you spend it?” Your answer may just help shape your approach to spending, saving, and investing going forward. 

So, are you a Peacock, Woodpecker, Penguin, or Ostrich? Perhaps you’re a combination? Find out below.

Peacock 

Peacocks can be showy spenders so $25,000 is likely to be splashed on a luxury Christmas holiday or a flashy holiday rental to celebrate the new year.

They’re alert to new trends, they want the best money can buy, they carefully curate an image and they’re not shy about showing off. 

However, as fun as all this cash waving is, it can lead to problems with budgets as some peacocks are willing to go into December induced debt to uphold a certain image. So, when purchasing your gifts this year think of whether or not you can truly afford them. And if image is important, consider cheaper brags like cooking the perfect Christmas pud or creating the best festive music mix.

Woodpecker 

Acorn Woodpeckers are the ultimate stockpiler, hoarding thousands of acorns to take them through a white Christmas. This species occurs in the human world too. They buy the smallest tree, shop for presents in the January sales, and recycle wrapping paper. Some may view them as cheap, but that’s water off a woodpecker’s back as they derive their Christmas joy from watching their savings go up and up. 

Where would their $25,000 go this Christmas? Directly into their savings!

Woodpeckers are conservative by nature and don't take big risks, which means they may also be missing out on opportunities. Consider reviewing your naughty and nice approach to saving and make sure you are not missing out on investment opportunities.

Penguin 

Does your son want a reindeer? Or maybe your sister needs funds to create the best festive light show in the street. If you’re thinking of how you can financially help others this Christmas before you think of yourself, then perhaps you are a Penguin.

Penguins are nurturers. They are perfect caring parents and only feel financially comfortable if they know the needs of loved ones are being met.

The problem with this, is that the penguins can neglect themselves financially because they give away so much. Avoid going broke this festive season by giving your own finances a bit of love and setting a strict budget with your Christmas gifts. Think about keeping a record of how much you are giving away and to whom, you may be surprised at how quickly this total adds up. 

Ostrich 

Just like the Ostrich, some people would rather bury their head in the sand in December than organise their festive finances. Credit card statements are never checked and bills are ignored.

A cheque for $25,000 is probably sitting in the piles of unopened post they’ll get to one day.

Ostriches need to take their heads out of the sand—gently. Start by setting aside time to look at your income and what you spend. Once you’re familiar with your outgoings start looking at where you could save money this season. Perhaps you could attend free festive events or cook up a meat free lunch. Your savings success may just inspire you to remove your head fully from the sand and start looking for bigger ways to grow your savings beyond Christmas.

Need some help?

If you want to talk about money but don’t know where to start, give us a call on 1300 033 166 or request a call back online. 

You can get general and simple personal advice about your TelstraSuper account for no additional cost – it’s part of your membership. Talk to us about how to boost your super, your insurance and how your super is invested. 

If you want more personal advice make an appointment with Telstra Super Financial Planning.  Talking to a professional about money – your income, your savings, your debt, potential for investment and creating wealth outside of super – could help you get a feel for whether you’re on the right track or unknowingly making big mistakes with your cash.