Many Australians plan to rein in Christmas spending this year, a new survey suggests.
Some 78 per cent are planning to adjust their spending this Christmas, according to a survey of 1,000 Australians by market researcher Pureprofile.
Around 38 per cent respondents said they'll cut back spending on gifts, 21 per cent will choose budget-friendly food and drink, and 18 per cent will focus gift-giving on children.
Rising costs are top of mind, with one in five wishing for relief from soaring food prices this Christmas. They estimate they'll spend $506 on food and drink this year, a 25 per cent increase from $406 in 2024.
But while households tighten their budgets, billions of dollars in unclaimed money remains untouched — and the funds could provide some relief for those eligible amid ongoing cost-of-living pressures.
Unclaimed superannuation money could be your festive boost
Recent data from the Australian Taxation Office (ATO) shows that the pool of lost and unclaimed superannuation has risen by $1.8 billion over the last financial year, taking the total to $17.8 billion.
Lost super includes both uncontactable (funds that can't reach you and haven't received contributions in 12 months) and inactive super (no contributions in five years).
If your fund can't get in touch, they may transfer your balance to the ATO as unclaimed super, which is held until it can be returned or moved to a new fund account.
You might have unclaimed super if you've changed jobs, moved house, or forgotten to update your details, or if you simply have multiple superannuation accounts.
How to check if you have unclaimed superannuation
You can check if you have lost or unclaimed super by checking your myGov account, using the ATO app, or phoning the lost super search line on 13 28 65.
Lost bank accounts, life insurance, shares, and investments
On top of that, you could have a slice of an additional $2.3 billion of lost money to be claimed from bank accounts, shares, investments and life insurance policies, according to the Australian Securities and Investments Commission (ASIC).
This money is managed by the ASIC and comes from accounts that haven't been touched for a certain period, usually seven years of inactivity.
Cash is transferred to ASIC if the account or policy isn't claimed, which can happen if you move, change address, or forget to update your details.
Other potential sources include energy companies, universities and health funds, among plenty of others.
How to check if you have unclaimed money
To check if you have unclaimed money, you can use the unclaimed money search on ASIC's Moneysmart website.
State governments will also have their own records where you might find lost money from deceased estates, lost share dividends, salaries and wages, cheques, overpayments and more.
To check for unclaimed money in your state's database, head to the relevant state website below:
