Are you someone who spends a lot of money and thinks about how to save money during the festival season later?
While the joys of a new possession may last only a few days, sadness and regret linger for longer periods, especially closer to the festival seasons. Let’s check how you can save money during festivals while enjoying the spirits.
Table of Contents
- Why do we Wait for the Festivals?
- Fix a Budget Beforehand
- Forget Your Credit Card
- Compare Before You Buy
- Make a Buying List
- Get Creative
- Repair over Replace
- Conclusion
Why do we Wait for the Festivals?
Festivals spread joy and togetherness, offer a chance to buy or replace things, bring freshness to life, and delay stress.
Ouch!
Isn’t it true? In the name of festivities, we go overboard with our spending limits. Kids need new clothes, your drawing room asks for new cushion covers, you hope for a new lehenga, and the list is endless.
While many of us have learned to restrain our desires to fit our budget, a few of us could still give in to the FOMO of replacing perfect utilities with new things just for the sake of it. Let’s see how we could avoid spending recklessly during the festival.
Fix a Budget Beforehand
Money is the king, and you should respect it. Before starting the festivities, fix a wise budget you could afford to shell out.
Stay true to your real limits while budgeting. Now, set aside 10% for emergency use.
I know it’s easier said than done. When you have extra money, you are tempted to spend it. Instead, put that 10% into a safe deposit, lock it, and forget the key. Of course, I’m speaking metaphorically.
Though you get the gist. right?
Forget Your Credit Card
For a month or so, forget that you even own a credit card. Yes, I’m asking you to ditch one thing that you feel has made your life super easy.
Remember the classic definition of overspending. Spending more than you have. Credit cards are only the medium to ensure that you go on a shopping spree without having money in your pocket.
The lucrative offers on these ‘loan traps’ also work. They tend to convince you that spending is saving.
Think twice. Could it be even true?
Compare Before You Buy
Online shopping has made our lives easy like butter but also slippery. We see beautiful things on the screen, do some online comparisons, and run to buy them. We feel a sense of due diligence going through the customer reviews and pricing on 3 to 4 eCommerce sites.
Have you ever tried comparing the same product in the offline market?
Your first thoughts might be, who has the time to spend hours going to the market? I will share an example to reinforce that it is vital to explore physical stores occasionally. Especially when you have to go bulk shopping.
I bought a laptop table online a month ago and was pretty happy with it until I saw the same table at half the price in a nearby market.
Lesson: Not everything is cheaper online.
Make a Buying List
And stick to it when shopping.
Making a shopping list is a mundane exercise, yet it pays off if you stick to it. Try making one a few days in advance.
This way, you will have enough time to jot down all your needs and revisit and eliminate unnecessary items.
A list saves you from hoarding unnecessary liabilities and, thus, money. It also helps you buy in bulk and get more discounts, as most businesses offer discounts during festive sales.
Get Creative
DIY is the new talk of the town. I’m sure you have heard of it.
Do-it-yourself is a fun practice, and festivals offer a great opportunity to get creative. Instead of buying new décor, you could try making it from scratch.
Self-made things are budget-friendly and attract more appreciation from our guests. After all, it’s the efforts you put in that matter the most.
Check out my favorite DIY home décor link.
Creativity can also be displayed in personal clothing. Mix-and-match is always in. It gives you a fresh look from your existing wardrobe.
Add a sequin jacket to your simple but elegant suit to create charming festive attire at a minimal cost. Keep some evergreen colors and items handy for your capsule wardrobe.
It is easy to get a scintillating makeover with a little effort and creativity, saving you from hefty spending on merchandise.
Repair over Replace
The ease of shopping, thanks to online retailers and the EMI concept, has made us forget the repair concept. If an item breaks more than two times, we render it unfit for use.
I agree; some things need replacement after they have served their purpose. Yet, a few others could easily be repaired to save a few extra bucks at no or minor inconvenience.
Try sifting through your house to divide the items into two categories. One needs absolute replacement, and the other could work fine after mild repairs. Here, you pocketed a few more pennies this festival season.
Conclusion
This festival season is much awaited as we are fresh out of the pandemic’s grip. After two years of precautions, we want to have a great Diwali this year. The retailers are also ready to have a great festival season to cover up their past losses.
However, there are also talks of recession and economic deterioration. It might be a good idea to restrict your extravagance this year. You know, as they say, “You can never be too cautious.”
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