Are you someone who spends a lot of money and think about how to save money during the festival season later?
While the joys of a new possession may last only for a few days, the 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. They also bring a chance to buy or replace things. They bring freshness to life. They also bring delayed stress.
Ouch!
Isn’t it true? In the name of festivities, we go overboard our spending limits. Kids needing new clothes, your drawing room asking for new cushion covers, you hoping 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 perfectly good 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 out with the festivities, fix a smart budget that you could afford to shell out.
Make sure to stay true to your real limits while budgeting. Now, keep aside its 10% for emergency use.
I know it’s easier said than done. When you have extra money, you are tempted to spend it. Let that 10% go 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 actually having the money in your pocket.
The lucrative offers on these ‘loan traps’ also do the trick. They tend to convince you that spending is actually 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 go to the market and spend hours. I will share an example to reinforce the fact that it is absolutely necessary to explore physical stores every once in a while. Especially when you have to go bulk shopping.
I bought a laptop table online a month ago. I was pretty happy with it until I saw the same table in a nearby market at half the price.
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 if you stick to it. Try making up a list a few days in advance.
This way you will have enough time to jot down all your needs as well as revisit and cut down the things you didn’t need in the first place.
A list saves you from hoarding unnecessary liabilities and thus, money. It also helps you buy in bulk and get some more discounts as most businesses offer bulk 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 your hands on making them from scratch.
Self-made things are not only budget-friendly but also 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 could also be displayed in personal clothing. Mix and match are always in. They give you a fresh look from your existing wardrobe.
Throw in that sequin jacket to your simple but elegant suit to make a 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 concept of repair. An item breaks more than two times and we render it unfit for use.
Agreed, 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 little inconvenience.
Try sifting through your house to divide the items into two categories. One that needs absolute replacement and the other which 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 woods of the pandemic. After two years of precautions, we want to have a great Diwali this year. The retailers are ready to have a great festival season too to cover up their past losses.
Although, the talks of recession and economic deterioration are floating in the air too. It might be a good idea to restrict your extravagance this year too. You know, as they say, “you can never be too cautious”.
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