He may have banked around $200 million this year but don't expect Cameron Smith to be swanning around the French Riviera anytime soon - unless it's in his fishing boat.

Smith entered the stratosphere of top sports earners in 2022 on the back of his five victories, including the British Open, and money-spinning move to the Saudi-backed rebel LIV Tour.

But Australia's top golfer hasn't splashed the cash about, apart from upgrading his fishing boat.

"I traded in one of my boats for a nicer boat and that was about it. That was kind of my treat to myself," Smith said after bowing out of the Australian Open in Melbourne when he missed the contentious new third-round cut.

Smith was surprised to even be playing on Saturday.

After faltering in the opening two rounds, the 29-year-old thought his tournament was done and headed to the Mooney Valley races.

He said he was "too many beers deep" when he got news he had made the traditional halfway cut and had an early start on day three, switching to water for the rest of the night.

Smith admitted he was mentally exhausted after a year for the ages, capped by last week's Australian PGA Championship triumph in front of his Brisbane home crowd, friends and family, followed by a big night of celebrations.

He said he planned to spend the next few weeks enjoying his first Christmas at home in three years and reflecting on his year's achievements.

"Yeah, I've been busy the last 12 months, so I haven't really had time to really sit down and actually just think about it," Smith said.

"It's all kind of been work so it will be nice to enjoy Christmas with the family again - I'm looking forward to that."

While the world No.3 planned to hit the gym in coming weeks to iron out some kinks from his hectic year, his only golf may be a hit with father Des at his beloved home club.

"I might play with the old boy in a Saturday comp or something like that at Wantima, but it definitely won't be serious," he said.

"It will just be on the cart, having a good time - I'll probably put the clubs away now for a solid two or three weeks and then get back into it in the new year and I'm looking forward to next year, I think it will be exciting."

Unable to play regular PGA Tour events, Smith's calender will work around the LIV schedule and the majors - notably his British Open title defence at Royal Liverpool in July.

But he said he didn't plan to change too much.

"We've got a pretty good blueprint now. I have a tendency to get a little bit lazy at times but I think I just need to do the same things, just better and probably a little bit more often.

"I'm really looking forward to what I can do next year. Hopefully I can keep improving and to have plenty of years like this would be awesome."