A 5-step plan to maximising EOFY sales

Budgeting and saving

The contents provided on this page are for informational purposes only and do not constitute financial advice. Consider your personal circumstances and objectives before making any financial decisions.

End-of-financial-year (EOFY) sales can be a great opportunity to make purchases that set you up for extra savings or reductions in the long-term.

For instance, taking advantage of EOFY sales to invest in energy-efficient appliances could help lower your utility bills, while upgrading your work-from-home setup might boost your productivity and earning potential at work.

Here’s a 5-step plan you can try to help you maximise and get the most out of EOFY sales this year.

Step 1. Set your goals and budget for EOFY sales

Spend some time thinking about what you actually need and what your long-term goals are before heading into EOFY sales. It could help you stay on track and avoid any impulse purchases.

To help identify your goals, some questions you might ask yourself are:

What are my priorities?
In which area am I looking to save or cut down on costs?
Do I need to improve my workspace at home?
Am I aiming to boost my skills so I can change jobs or ask for a salary increase?
Do I plan to start a side hustle within the next year?

Once you decide on your priorities, create a wishlist of things you could purchase during EOFY sales to help you achieve these goals. Do some research into how much these might cost, then consider your current financial situation and set a realistic budget based on what you can afford to spend.

If you think a purchase is essential but you need extra funds to secure it, you could consider options like Beforepay’s quick online Pay Advance so you don’t miss out on deals.

Step 2. Look for purchases that could unlock tax benefits

EOFY sales can be an opportunity to invest in tax-deductible items. For example, if you’re a freelancer or small business owner, you may consider purchases like office furniture, tech upgrades or tools.

If you don’t have a small business or side hustle, you might still be able to benefit from deductions on work-related equipment such as laptops or tools.

Depending on your industry, you might also be able to claim additional, industry-specific purchases when you lodge your tax return, such as education and training, protective gear, and professional membership fees.

For more examples of work-related expenses see our 6 steps to help you maximise your tax return.

Remember to keep detailed records of your purchases to include with your tax return, and check official guidelines such as the Australian Taxation Office to ensure you are claiming correctly.

Step 3. Prioritise energy efficiency

You might be able to spot some deals during EOFY sales that can help make your home more energy-efficient and, over time, save money on utility bills.

Upgrading to energy-efficient appliances, such as washing machines or energy-efficient shower heads could help you cut down your water bill in the long-run. Meanwhile discounted offers to purchase and install LED lighting can significantly reduce your electricity bills!

The government may also offer some rebates or incentives for upgrading to energy-efficient appliances that could help offset some of the upfront costs. For details check Energy.gov.au.

Step 4. Invest in your skills and development

EOFY discounts aren’t limited to physical items – educational programs might offer discounts and sales on online courses, certifications, and software.

Learning or further developing skills is a good way to increase your value as an employee, which can lead to opportunities to increase your salary or apply for a new job.

Upskilling could also help you launch a side hustle and create another income stream.

For example, a discounted project management course could help you secure a promotion, while premium design software might elevate your freelance portfolio.

A few online learning platforms you can explore are:

If you’re short on funds, Beforepay’s Pay Advance can provide a financial bridge, allowing you to invest in these opportunities now and see the benefits later.

Step 5. Spend mindfully

With so many tempting deals, it can be easy to overspend during EOFY sales. To avoid racking up extra debt, spend mindfully by focusing on:

items that are high-quality and durable
items that are on your wishlist
the budget you set before you started shopping
items that will help you work towards your long-term financial goals.

EOFY sales offer a great chance to invest in future, long-term benefits, if you approach them with enough planning and focus. By planning ahead, leveraging tax benefits, and staying disciplined, your short-term spending could turn into more than you expected.

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