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HOW TO PLAN AND BUDGET YOUR DIWALI SHOPPING
Finally, it is that time of the year when everyone’s happy, binging, bonding and celebrating. The fervor of Diwali in India is immense, and the festival itself needs some prerequisite preparations like the home decoration, buying new clothes for the family, jewelry for women, and gifts for all loved ones – an endless list of expenses. You will also have your maid asking for bakshish or bonus, kids asking for sweets and crackers and basically everybody contributing to the expense, making it a rather pricey month of your calendar year.
But, contrary to popular belief, you can actually save while heartily celebrating the festival of lights. How, you may ask? Well, by budgeting the expenses you make this Diwali. Here are three points of advice to help you with that: –
Do Not Rush for Stuff Last Minute
You know what they say right? “Haste makes waste.” So, be wise and plan things in advance. Know when and where you are going to shop, and what you are going to shop for. It’s a popular marketing trick that brands sell at higher prices right before the big day. This is because the items become a need over want for the last minute customers and they have no option but to pay whatever amount they are asked for.
Also, try shopping for basic things like Diyas, Candles and other Diwali decorations from the roadside vendors or NGOs that sell handmade stuff, which is much more economical than those sold at high-end stores and malls. That way, you are saving money while making a difference.
Make Lists and Plan your Spends Beforehand
Making a list of things you might require for the upcoming festivals always helps. Write down everything you would need to buy, like lights, candles, clothes, sweets, gifts, etc. along with the estimated budget for each one of them.
This will be beneficial in deciding the priority of things. So if in case your budget exceeds your expectation, you can simply remove the less important stuff. You can also buy all the stuff well in advance through wholesale retailers to save even more.
Don’t Go on a Card Swipe Spree
Taking your credit card or debit card out in a store for payment is usually a reflex, but believe us, this is the biggest mistake we often make. To express it more explicitly, just because ‘you can’ does not mean ‘you should’.
Make a trip to the ATM instead and withdraw cash as per your budget before you enter a store. This will ensure you are aware about your spending. So when you achieve the spending limit, you automatically know because you run out of cash. This is a sure-shot way to keep a check on your spending. But, do carry your debit card too just in case you need some extra emergency money.
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