How to Enjoy Holidays Without Overspending
posted on Oct 19, 2020 | 433 likes
Planning a hopliday soon?
The holiday is soon upon us, vacation bells are already ringing and people are getting set to travel and shop for their pleasure.
We know it’s not Christmas yet, but if you’re like a lot of people, you're already thinking about vacation locations, cloths, jewelries, food, etc.
While you’re ahead of the game, why not strategize about all the ways you can avoid holiday overspending? It’s a thing.
We can all be tempted to spend too much during the most wonderful time of the year, striving to give those we love what we think they expect. But one of the best things we can give our family is financial health.
Seasonal overspending can be wasteful and throw a wrench in your financial health— but it doesn't have to. These tips can help.
1. Focus On How You Want To Feel In January.
Brain scans have shown that we actually think of ourselves in the future with a different part of the brain than we think about ourselves in the now.
It's almost like the future you is a different person. But remember, in January, the excitement of presents may have come and gone, but the bills will remain.
Make a promise to yourself that you will take care of your own long-term financial stability over the ephemeral emotions of the people you love.
2. Schedule Time And Start Early.
Time is money, and that is even true when shopping. If you wait until the last minute to buy gifts, you won't have time to shop for the best price, you might have to pay more for speedy shipping and you'll be too frazzled to enjoy the experience.
You need to allocate time to lovingly select the right gift for each person and for your budget.
Put a three-hour block in your calendar one day this week to search for deals. Remember, it's the thought that counts, and thought takes time.
3. Make Your List A Spreadsheet, And Check It Twice.
A simple spreadsheet will help you think. You don't want all the numbers floating around in your head.
You need them summed up right there in front of you. Spreadsheets don't flub the numbers like the human mind can. You can create a spreadsheet that lists your total holiday budget and subjects the cost of each gift you buy.
You can also use it to keep track of planned gifts, noting whether a gift has been purchased and, if so, whether it has been wrapped.
4. Consider DIY Gifts
If you’re looking to put a creative spin on your holiday gifts, consider making something yourself.
DIY holiday gifts are a great option for saving money and, with so many unique ideas to consider, they allow you to create something that is both personal and memorable.
The key to maintaining your holiday cheer is to choose a DIY project that you’ll know will be just as fun to make, as it will be to give.
5. Start An Investment Plan Targeted At Your Holiday Expenditures.
Every year it seems that the holidays creep up on us. But they always occur at the same time every year, which makes them just about the easiest thing to plan for.
We always wish we did it last year, so why don't you start doing it now?
Get the budget summary for your holiday as calculated in number 3 above, speak with one of our investment experts for guidance on how to set aside funds that will grow into the budget you are working towards.
Avoiding overspending during the holiday season may not be easy. It certainly requires extra time and effort. But trust me, your January-You will thank you for it.
The holidays are a time for joy, and that means for yourself as well as for those you love. Take care of yourself. It's the best gift you can give those who love you.
If you still need a financial hand getting through the coming holiday season (and beyond)? Consider applying for a personal loan from Page Financials.
Our loans are hassle free and you can get up to N2.5Million in less than 3 hours when you apply online at pagefinancials.com.