October 19, 2020
- Olsen Breet
- June 8, 2019
Holiday seasons are undoubtedly the happiest time of the year for all, but it also comes with many financial challenges that can break your bank. During the festival season, there are tons of things in the name of expense like buying gifts, home decoration, food and lots of other things that you have to take care for the grand feast. Yes, festive season come only once in a year and you might want to celebrate it to the fullest without any compromise, but that doesn’t mean you should spend all your money and turn your one day of happiness into months of stress.
Well, it is true that you won’t be able to completely diminish your holiday spending, but you can surely lessen some of them by taking effective measures. Even if your shopping list is increasing and the money in your pocket is leaking rapidly, you can still celebrate the holiday season without breaking your bank. Here, in this blog, we have prepared a list of useful tips that can help you save a good amount of money during the holiday season. Now, let us get started.
How to handle the financial stress this holiday season?
1.Create a budget
One of the biggest mistakes that people make is that they spend blindly during the holiday season without creating a budget. This is the main reason why many people face a financial crisis later in the future. Therefore, it is very important that you create a budget where you need to review your earning and calculate how much expense you can really afford. While creating the budget, try to be little flexible as there is no permanent number that can be given when it comes to holiday expenses. Further, creating a budget is only half task done; the rest of the part is to follow it and not to get carried away due to emotional swings.
2. Shop smartly not excitedly
The major chunk of the holiday expense will be involving clothes, decorating items, gifts and then others. Therefore, try to create a list of what you need to buy so that you don’t get confused while shopping around the malls and shops. Having a list will help immensely as it will keep you away from buying unnecessary things and also will ensure that you don’t do overspending. Try to shop smartly, if you like anything then, instead of purchasing it from the first store, go around the market and see where you can get the best price. During the holiday season, you will be n number of big banners displaying “SALE” and “Heavy discount” and other stuff like that. You can also check online as you will get all the things at your home and you won’t have to rush around the stores.
3. Buy only what you can afford
Well, it is quite common to spend more money during the festive season on the impulse and that can create some financial issues later in the future. Therefore, try to only buy stuff that you can really afford so that you don’t have to take a loan in the future to overcome your financial problems. If any of your children have demanded anything that you certainly cannot afford right now, then you can simply tell them that you are not financially ready to give them this stuff and will try to present them next year. And for the adults, if they are your closed one, any gift will be okay for them as many people see the emotion that you carry forward in your present, not its value.
4. Try to wrap up your shopping within one or two days
Lastly, yes we all love shopping but going after the market every day is not going to save you money and will not help you to get rid of financial stress. As there are so many things that people purchases during the holiday season, don’t go to the market without carrying your list or else you will have to come over and over again. And this will kill your time and money as well.
Wrapping up, these were some of the useful tips that can help you avoid financial stress in festive season. If possible, you can take some effective steps from your side as well along with the mentioned ones. However, make sure that you enjoy this holiday season full-heartedly.