BY JENNIFER IKEOKWU
It seems almost impossible to not spend a little extra in festive seasons. So, here are some suggestions that may help you achieve that money management goal, and, of course, leave you with more than enough funds after the season is long gone:
- Shop before the peak of the season:
Prices of some goods tend to rise as a result of an increase in demand during festive periods. To avoid spending more for less, the trick is to buy these products just before the season starts. There is an unexplainable joy from within when you buy something and then find out few weeks later that the price has skyrocketed. You’ll always feel lucky.
2. Stick to your budget:
Working with a budget is a very wise decision because it helps to get your priorities straight. It is necessary to have a plan; decide on the amount you want to spend and stick to it. This may seem difficult but being intentional and disciplined is just the key you need to be frugal in spending. Remember, life goes on after festivities, you don’t want to get stuck paying avoidable debts.
3. Shun Impulse buying:
Right before festive seasons, you would likely notice an increase in the number of sales and discounts; sellers become more intentional about making profit during these periods hence the rise of attractive wares on display. Therefore, it is your responsibility to be disciplined about how you spend. So while sellers are happy counting their profits, you are also happy purchasing what is NEEDED. Make sure to add: “I will not buy anything on impulse”, as part of your daily affirmations.
4. Don’t buy to impress:
A famous quote by Will Rogers says “Too many people spend money they earned, to buy things they don’t want, to impress people they don’t like.” It is a natural phenomenon to want to impress your neighbor but also keep at the back of your mind it could be detrimental to your finances and emotional health. Trying to keep up appearances is truly exhausting and addictive, a solution could be to focus on something more rewarding. There’s no sweeter victory than a gratifying investment.
Abiding by these tips is a sure way to contributing to a healthy financial lifestyle.