Pen&Paper

With the fall season on, the mood of festivity is taking over the people all around the globe. From the last week of September the NAVARATRI festival is starting and then there is DIWALI, CHRISTMAS and NEW YEAR 2023 celebrations to follow. Billions of Hindus in India and people all across the globe will be celebrating these festivals. The ten day long Dussehra festival is an extravaganza, with lots of cultural and spiritual events. Everybody wants to look their best and hence they need to shop. The brand’s know it, and as soon as the festivals starts, the sale season has started too. To lure the customers, every brand is offering discounts,and it’s very tempting not to over buy. Hence it’s very important to keep your unnecessary temptations to buy everything in check. And how can you do that?

Let’s begin

1. PLAN A BUDGET

No matter whether you like it or not but having a budget always helps in preventing over spending. By fixing a budget you set yourself an invisible restraint which stops you from buying unwanted or unnecessary things, as your mind always keep reminding you of your budget and to stay within the limit. This makes it easier to control your urge of buying everything that you come across.

2. SET LIMIT ON YOUR CARDS

It may sound absurd to some but it can be of immense help to those,who overspend first and then struggle to pay later on as they have crossed their budget. It’s very likely to overspend in the time of swiping card, as we forget to keep tab on our expenses as we are swiping our way through shops after shops. If you are doing shopping with cash, you might run out of it, and can realise that you have spent too much or exhausted all your cash at hand, but with cards which usually have higher limits you keep on spending,later to realise that the bills have gone sky high. So, in order to keep your expenses in check set a limit on your card as per your requirement,to safeguard yourself from overspending.

3. MAKE A LIST

It’s very easy,if you have prepared yourself a buying list in advance,considering your needs. The list keeps you updated with what are all the things that you need and helps you keep a check on all your unnecessary buyings. As you have prepared the list yourself,you are fully aware of what you need and what’s not required.

4. DON’T BUY ON IMPULSE

Many times we buy things on impulse, later to find that, we don’t like it or don’t have any use for it, and waste our money. Hence it’s very important to keep our impulsive buying in check and give ourself some time before deciding to have a go. By doing this you can save yourself a lot of money. Only buy the things that you like or have the need for. Avoid buying useless and unnecessary things.

5. DON’T BUY JUST BECAUSE SOMEONE ELSE ( friends,relatives, neighbours) BOUGHT IT.

It’s a very common mistake that we make, and buy something that we don’t need, just by buying something which our friends or relatives or neighbours bought. It’s very tempting not too, but believe me, most of the time we don’t need them.

I hope these tips will help anyone to take better financial decision this holiday. Go ahead enjoy the holidays and keep your spends in check, so you don’t have to regret your financial decisions later on. Spend wisely. Happy holidays.