Tips to spend money wisely during christmas


Christmas is just at the corner and it happens to be one of the most expensive times for Christians. Most people without Christian beliefs take the opportunity to make wild merry, go on holidays to beaches and recreational places during the season.
With holidays on 25th, 26th December(Other continents except for America) and 1st January, people make their pockets “do the talking” by taking advantage of the holidays
However, Some Christmas celebrants often overspend their budgets as they get carried away by unnecessary shopping and merry-making. They eventually start the year with a strict and tight budget having spent a larger portion of their salary and savings during Christmas and eventually see the month of January an enemy.
First, let me share with you how a colleague unwisely and irresponsibly blew his entire savings on Christmas. Two of his friends who were students in Ukraine came down for Christmas holidays last year. Knowing he had grabbed a job in a bank, they started reminding him of how he should make them enjoy the holidays when they arrive. They finally touched down on the 22nd December and he unwisely obliged to their demands.
According to him, they immediately moved to one of the best resorts on a Christmas getaway in the West and after spending the little savings he had in his account, they left with all smiles and thanks.
Even though he had already planned his Christmas spending, he got carried away by unwisely deciding to play the “big boy” role by surprising his friends, and sadly he was left to his fate to suffer from his family in January.
Here are some few tips to guide you to enjoy your Christmas whiles ensuring that your savings are not drained.
Have a budget for Christmas
Drawing a good budget ahead of Christmas is the best way to avoid being financially trapped after Christmas. The budget should take into account the food, drinks, gifts, and some few miscellaneous and should be followed accordingly. Of course, some people prepare good budgets ahead of Christmas but it is the implementation that becomes the problem due to pressure from family and friends. Avoid being pressurized by even your own kids about the purchase of items not in your budget.
Avoid impulse buying
Do not buy anything you have not initially planned of. Most people fall to buy Christmas items without knowing what their importance will be to them during the season. Once you step out to shop, purchase items you have already planned of.
Shop around and look for deals
Christmas is a season where the prices of goods are drastically reduced. All around the world, manufacturers, wholesalers, and retailers reduce the price of their goods to take advantage of bulk sales of the season. Sellers offer promotions in the form of price discounts, “buy one get one free”, etc to entice customers to buy their products.
It is therefore prudent to look around for such deals during Christmas shopping which are mostly advertised in the dailies, blogs, TVs and radios.
During shopping of food items such as meat, eggs, vegetables and drinks, try as much as possible to shop in farmers market(Straight from producers) where goods are comparatively cheaper.
Give homemade gifts.
Of course, Boxing day, a day after after Christmas observed in some parts of the world is a day for sharing but try as much as possible not to gift items that will swell your budget. One effective way to share gifts without going overboard your budget is to share items you create and make at home.
Fruit juices, pastries prepared at home and designing and making items to share as gifts could make you protect your wallet.
Prioritize Group Gifting
Distributing gifts to individuals could be hectic and drain your budget especially when the number of individuals to be served are many. It is therefore prudential to practice group gifting which could be beneficial to a larger number of people. This would save you from buying multiple gifts aa
Track your budget
Monitoring your budget is effective away to avoid spending unnecessarily. Personally, I separate my budgeted Christmas spending from my main account which I track routinely after making every purchase. I make sure everything I purchase is jotted in my small diary to ensure that i stay within the confines of my budget.