It is not wise to rock around the Christmas tree during this festive period, spend frivolously, rack up debts and start paying them off in the following year. Instead, let's be more thoughtful in spending and saving as we approach this festive season.
How can you spend less and save more this Christmas? We have some money-saving tips for you below;
One way to be thoughtful in your spending this season is to set a limit for how much you will spend and stick to it.
2) Avoid Impulse buying
Impulse buy is when you purchase something you didn’t plan to buy. Almost everyone has temporarily fallen for the excitement of an impulse buy at some point. To protect against this during this Christmas, shop with a plan in mind and take only the amount of cash you’ll need.
3) Track Your Spending:
To avoid spending recklessly during Christmas without or overspending and ruining the subsequent month’s budget, track your spending to see what you have left and this will determine the amount you are to spend going forward.
4) Shop Early:
Always jump on the early shopping train, when prices are stable and low. During festive periods, prices of items are unstable or high. Don’t wait till December to shop. Start early.
5) Avoid Retail Buying:
Retail buying will cost more with less items as against bulk buying. Co-workers can contribute money, and buy all they will need for Christmas in bulk. In doing this, everyone spends less and get more.