A STUDY has found about 39% of Australians are "Santa fanatics" when it comes to giving gifts and 17% think giving presents is wasteful.

Wealth management company Yellow Brick Road released the results of a survey this week after asking Australians about their approach to giving gifts.

The survey found 39% of people believed they were prepared for giving gifts, 11% put in no effort because their partner managed the presents, 23% rushed at the 11th hour and overspent, 8% believed useful and crafty gifts trumped expensive presents and 17% thought gift giving was a commercial farce.

Company spokeswoman Lyndsey Douglas said the way which a person approached Christmas correlated with their attitude to their personal wealth.

She said people well prepared for gift giving were heavily in control of their finances while last-minute buyers tended to bury their heads in the sand.