End of year holidays are one of the most exciting times of the year. The twinkling lights, classic movies and endless holiday parties are enough to make you feel giddy for months. However, as amazing as the holidays are, they can also be stressful, especially if you don’t have a savings culture which will guarantee you a debt free life. The gifts for your family, best friends and significant other can take a huge toll on your bank account if you are not careful!
Don’t start stressing just yet as this article is here to help make holiday shopping affordable with easy money-saving tips so you won’t have to break the bank this season. Below are tips which when you imbibe in your daily activities will save you from spending money unnecessarily.
Draft the list of what you need
You can sit down with any member of your family so as to make the lists of what you know are really important and ought to buy. When you do that, it will save you the cost of spending too much and being from being in debt.
Pay with cash when you are buying
Yes it is better to pay with cash than using your debit card, this is because if you are in a place where you can negotiate price, then you won’t be at a loss. Studies have shown a correlation with increased spending when using plastic, even if it’s your debit card.
Avoid impulse buying
Sometimes when we see something that really looks good or smells nice we just get caught up in the moment and go ahead to buy it without giving it much thought. Instead of us to focus on the things that are on our lists, we buy things that we didn’t even budget for. If you see something that you weren’t planning on buying but you have the urge to buy it, write it down and sleep on it. If you wake up the next day and still have it on mind, then go back to the store and buy it. This will enable you avoid buying lame things during the festive period.
Another great way to save money during the festive period is to shop online. Perusing the internet can save you from spending money to buy fuel or even paying money at the gate before entering some markets or shopping plazas. Some shopping sites offer free delivery services during the festive period, so you can use that period to buy what you want to use as gift for people who will come and visit during the holidays.
Use the holiday to save money
A lot might be wondering how? But the truth is that you can save money during the holiday when you plan well. How do you do that? You might be given money from someone as part of his or her holiday gift to you; you can then remove part of the money and save it in your piggy bank. When you cut down on excess shopping, you are also saving money which will help you after the holidays are over.
Of course, you want to be with our loved ones for the holiday. But, it might be a much better use of your money to stay home through the end of the year and visit in January or February instead when travelling will be cheaper.
Don’t over-do it.
You likely receive lots of invitations to parties and holiday events that can end up costing you money for clothes, host/hostess gifts, travel and other expenses — not to mention your time. A lot of women will spend the last penny they have just to make sure that they get that “aso ebi” and wear to a wedding. You don’t have to wear it if you can’t afford it, if you have the colour code for the day, you can still wear it and look good. Consider each invitation and accept those that mean something to you and skip the others. Too many parties results in too much spending and too much stress. Keep it simple.
By Pupwaya Timothy Dibal