How to Balance Saving and Spending This Festive Season?

How to Balance Saving and Spending

While planning for this festive season, are expenses winning against your tug-of-war with savings? Are you wondering how to find a balance between savings and spendings this festive season? If yes, then don’t worry. We will help you find the perfect balance.

We know festivals are full of shopping sprees. While shopping, we tend to buy everything we find quirky yet cute, isn’t it? And most of the time, we exceed our budget and overspend. What happens next is that we keep thinking about how to balance the overspent money, and we end up missing out on the happiness of the festive season. 

To avoid such situations, let’s look at some prudent practices which will help you enjoy the festival season to the fullest!

Make a Smart Budget

When festivals are near, no matter where you go, you will surely find some fantastic discounts or offers. And these offers are so difficult to resist! So, what could be done? Well, simply make a smart budget. 

Take a notepad and write down how much to spend on decoration, gifts, food, clothes, etc. And make sure you buy the things you need in the first place. Avoid impulsive purchases.

Track Your Expenses

Once you make a budget, make sure you track every expenditure you make. Put tick marks and analyse if there is a balance between the remaining spending amount and the things you are yet to buy. This will ensure that you stay within your pre-decided budget. 

Choose Your Payment Mode Wisely

Gone are those days when we used to carry thousands of rupees in cash while shopping. These days we carry credit or debit cards. And online shopping offers us payment modes like ‘Buy Now, Pay Later’, which is quite tempting. 

Don’t use different credit cards because you might lose track of your spending and the credit card bill might make you feel dizzy! And if you miss the payment date, you know better what happens next. So, instead of using multiple credit cards to make payments, you can stick to one credit card, use reward points and keep track of expenses. You can also try using debit cards, and while opting for the EMI option, check the charges. 

Grab Discounts During Sales!

During every festive season, e-commerce giants offer products at a discounted price. While staying within your budget, you can consider buying gifts, clothes, and decorations at discounted prices. It will surely help you save some money.

Start Investing Money For The Next Festive Season!

We know by now you will be well sorted for this festive season. So, start accumulating money for the next festive season so that when festivals are near, you can enjoy them to the fullest!

Follow all of these prudent practices and fill your festive season with cheers and peals of laughter!

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