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How to Prevent Your Holiday Spending From Going Out of Control

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I am not an extravagant. I keep a close eye on my spendings. But there comes a time in the year when I want to splurge. We all do. Festivals are a great excuse for that! As usual, this year I was out for shopping with a long list. Old habits die hard and having a list is a much while shopping. I went 7 times to shop for Diwali. Yes, 7!

It was all good the first time. I bought many things - all useful and I didn’t care for the price. On the second day, I bought many things I liked, some unnecessary and some ‘new in the market’ - oh, I must try these! It was only after my 3rd Diwali haul, I realized I was piling bags in my bedroom and I might not use them all. It shook me as I am that ‘I stick to the list’ type of girl. So, where was I wrong? I took my list to have a close look and here’s what I found out -

Set a Budget

I had a list but I had no budget. Even with splurging we need a budget. We shouldn’t max-out our credit cards. And we shouldn’t exhaust our money on unnecessary items. After a careful analysis, I set a budget for everything. Everything, including spontaneous purchases. It’s important to have a budget on holidays. Allocate money for gifts, home decor, food, parties, and also for festive indulgences. Don’t let the pressure of staying within the budget takes away the fun.


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Comments

  1. Lady FiNovember 22, 2016 at 12:11 AM

    I've never been a make-lists kind of person, but I do try and keep an eye on what I buy - especially during Christmas when it's too easy to overspend.

    ReplyDelete
    Replies
    1. Saru SinghalNovember 22, 2016 at 12:59 PM

      That's good. As long as someone knows how to keep a tab on them, means are irrelevant.

      Delete
  2. ekta khetanNovember 22, 2016 at 7:46 AM

    I end up spending additional and will definitely read this.

    BTW, congrats on your new finance blog! :*

    ReplyDelete
    Replies
    1. Saru SinghalNovember 22, 2016 at 1:01 PM

      It's not my blog, I contribute there.

      Thanks for reading, Ekta!

      Delete
  3. Harish P INovember 22, 2016 at 11:02 AM

    Makes Sense. Checked the money view blog.

    ReplyDelete
  4. VaisakhiNovember 23, 2016 at 3:57 AM

    Haha budget comes when I can fix a list...I am so bad at shopping that I dont do it most of the time and when I do I dont keep a track of the budget. Deciding to not shop at all during this week - let's see how it goes *hiding my face*

    ReplyDelete
    Replies
    1. Saru SinghalDecember 5, 2016 at 9:42 AM

      Oh! Hope the resolutions worked for you, Vaisakhi!

      Delete
  5. DipanwitaNovember 23, 2016 at 4:57 AM

    I really need to read this. I do not think twice before spending on unnecessary stuff

    ReplyDelete
  6. Rahul BhatiaNovember 25, 2016 at 3:00 AM

    Useful tips, Saru

    ReplyDelete
  7. Writefully YoursNovember 26, 2016 at 1:53 AM

    Ah! I wish I had read this 2 days ago!!! Totally went all guns blazing to malls on Black Friday!!! :D

    ReplyDelete

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