The expenses generated by the Christmas season and the End of the Year covered weeks prior to the respective celebrations. It is for this reason that there must be a readjustment of the list of their personal budget or family member, and include the amounts that correspond exclusively to these celebrations as are the gifts, fees for meetings, a dress code for the festivities, and even mobilization for if you travel to these dates.
below, a list to be able to do shopping in a smart way and avoid the waste of money that could complicate the budget for the new year:
1. Planning expenses in advance
you need to define what you are going to buy and the amount that will be allocated for each thing. In programs of financial education of local institutions is advised that you make a list in detail everything you need to buy. As an example: Christmas gifts for the family, clothes for the commitments, christmas dinner, new Year’s eve dinner, the contributions of the commitments, donations for social work.
it Is recommended to give a budget to each of the categories of the list according to the money that you can count on these dates. If you are current on your payments and there is a possibility of using the credit card, you can allocate amounts for each gift, always, and when setting the limits so as not to exceed expenses.
2. Buy with cash
This allows you to take advantage of discounts and offers that are only available with this type of payment. In addition, it helps to avoid borrowing unnecessary that at the end of the day expensive items purchased by the surcharge of interest that will provide payments of dues in the long term.
3. Do not spend more than you earn
If no purchase is made with money in cash, the key is to develop a budget, taking into account the fixed income with the account for subsequent payments, otherwise, you will end up spending more than thought. It is important to calculate in advance the capacity of payment of the following months. A recommendation for these cases is to take advantage of the promotions of the season to defer purchases, without interest.
4. Share expenses at dinners and festive gatherings
In these cases it is best to define a quota. Another option could be that each person bring a dish or ingredient that is thought to consume, especially whether it is family meetings or between close friends.
5. Opt for gifts and economic point
An excellent option for christmas gifts is to play the "secret friend" or make a drawing of gifts. This mode can be used between friends, colleagues or with the family. The advantage of this is that you only spend on a gift and within the price range previously established. For the gifts of children, it is not necessary to make excessive expenses. You can find gifts very economic and eye-catching, especially for the younger children, who enjoy the simple things and simple. The gift cards for purchases in different stores are also very practical and an excellent choice for the holidays.
also Read: Discounts on shopping, followed by internet
6. Elaborate personalized gifts
To the friends and acquaintances you can opt for creative gifts and very pretty. Some options: put together some beautiful baskets or packages with tea, coffee, candy or gourmet chocolates; prepare candles or handmade soaps; transform objects easy to use in unique creations that will be very much appreciated by those who receive them. On the internet there are several tutorials very simple to do this.
7. Do not buy at the last minute
it Is proven to buy it with stress, makes us spend more. It is best to plan, make a list and reread it to make sure that all those gifts are necessary; then to prepare gifts in advance, avoiding bad moments, difficult situations, and a greater expense for the budget. (I)
Advisory: Financial Education Program Mutualist Pichincha and Financial literacy Program of Bank of the South.
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