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Monday, November 21, 2016

How to Prevent Your Holiday Spending From Going Out of Control



I am not an extravagant. I keep a close eye on my spendings. But there comes a time in the year when I want to splurge. We all do. Festivals are a great excuse for that! As usual, this year I was out for shopping with a long list. Old habits die hard and having a list is a much while shopping. I went 7 times to shop for Diwali. Yes, 7!

It was all good the first time. I bought many things - all useful and I didn’t care for the price. On the second day, I bought many things I liked, some unnecessary and some ‘new in the market’ - oh, I must try these! It was only after my 3rd Diwali haul, I realized I was piling bags in my bedroom and I might not use them all. It shook me as I am that ‘I stick to the list’ type of girl. So, where was I wrong? I took my list to have a close look and here’s what I found out -

Set a Budget

I had a list but I had no budget. Even with splurging we need a budget. We shouldn’t max-out our credit cards. And we shouldn’t exhaust our money on unnecessary items. After a careful analysis, I set a budget for everything. Everything, including spontaneous purchases. It’s important to have a budget on holidays. Allocate money for gifts, home decor, food, parties, and also for festive indulgences. Don’t let the pressure of staying within the budget takes away the fun.


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14 comments:

  1. I've never been a make-lists kind of person, but I do try and keep an eye on what I buy - especially during Christmas when it's too easy to overspend.

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    Replies
    1. That's good. As long as someone knows how to keep a tab on them, means are irrelevant.

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  2. I end up spending additional and will definitely read this.

    BTW, congrats on your new finance blog! :*

    ReplyDelete
    Replies
    1. It's not my blog, I contribute there.

      Thanks for reading, Ekta!

      Delete
  3. Makes Sense. Checked the money view blog.

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  4. Haha budget comes when I can fix a list...I am so bad at shopping that I dont do it most of the time and when I do I dont keep a track of the budget. Deciding to not shop at all during this week - let's see how it goes *hiding my face*

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    Replies
    1. Oh! Hope the resolutions worked for you, Vaisakhi!

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  5. I really need to read this. I do not think twice before spending on unnecessary stuff

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  6. Ah! I wish I had read this 2 days ago!!! Totally went all guns blazing to malls on Black Friday!!! :D

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