It is the festive season, so there will definitely be shopping. But, you also have to keep in mind that all the major festivals in a single month do not spoil your household budget. Divani Tripathi tells how to keep an eye on the household budget along with festive preparations.
After a long time, such a coincidence has happened that both the major festivals from Dussehra to Diwali are in the same month. And not only these festivals, in between these two there are many other small and big festivals like Karva Chauth and Dhanteras. If there are festivals then there will be preparations for them also. An important part of these preparations is shopping, and a lot of it. According to forecasts released by the Confederation of All India Traders, Deloitte and Redseer, this year during Dussehra and Diwali, the countrymen will spend about Rs 5 lakh crore on festival purchases, which will be 25 percent more than last year’s Rs 4 lakh crore.
You must have also prepared a list of all the big expenses like gifts, home decoration and purchasing of clothes. And after sharing this list with other members of the house, it is certain that you will be subjected to repeated taunts that you spend too much or that your needs never end. This often happens when you have an open hand in shopping. Of course, necessary purchases cannot be denied, but it is also very important to understand its proper management. This lack of understanding can ruin your savings and also be heavy on your pocket. Therefore, shopping wisely will not only control your expenses but will also promote savings and thrift. For this, small things like the right opportunity for purchase and the requirement of the product have to be kept in mind so that the family budget remains on track even during the festival season.
list ready
It is possible that the idea of preparing a list may seem childish to you, but doing so can be helpful in taking care of both your savings and budget. Preparing a list will make it easier for you to understand your needs. You will be aware in advance which items should be given importance and which are unnecessary to buy. Do not include those items in the list which you have not completely made up your mind about. While including any item in the list, also think about whether you really need it? By shopping with this preparation, you will not be able to go beyond the budget.
Do shopping at the beginning of the month
The beginning of the month means when you get your salary. Experts advise making purchases during this time. As soon as your salary comes, withdraw the first part of your savings. After this do shampooing. By doing this, you will also be prepared for the fact that you will have to meet your expenses for the entire month on the basis of this salary. Many times the money starts running out by the end of the month. In such a situation, if you have to make an important purchase, you have to take the help of a loan. Don’t let such a situation happen. Your savings can be useful at this important time. It is beneficial to make a budget every month and for every task. But, so that the burden of extra expenses does not weigh heavily on your pocket during the festive season, keep this opportunity in mind and make a separate budget for your festive needs. Don’t forget to divide the budget into different categories, like how much to spend on food, how much to spend on gifts, how much to spend on travel, clothes, etc. By doing this, you will easily get an idea of how much you can spend, which will prove to be very helpful for you in controlling extra expenses.
Start shopping soon
Shopping before the festive season may sound a bit strange, but it has many benefits. In this regard, Variksh Dwivedi, North Circle Head of Manappuram Finance Limited, says that you can increase your budget by starting festival shopping in advance. By doing this you get ample opportunity to compare the prices of similar products. You can also take full advantage of the offers. You will be saved from the hustle and bustle of the market, so that’s different. This purchase will also save you from forced purchases at expensive prices.
Choose offers wisely
Surely you must be waiting for the offers during festivals to make purchases. But it is not necessary that every offer be a profitable deal for you. Therefore, before purchasing, consider the benefits of the offer and not its name. During festivals and wedding seasons, e-commerce websites bring great offers for you. In such a situation, you need to understand their strategy. These offers can turn your shopping into an extravagance. Pay attention to offers. For example, on a purchase of Rs 5,000 you are getting a discount of five per cent. You may see that discount, but you will have to understand well the mathematics of temporarily trapping your money by purchasing more goods than you need and increasing your financial burden. Simply put, you will have to avoid spending extra due to offers.
Create fund for the festival
They say that every drop makes an ocean. This advice is going to be very useful for you at this place. Variksh says that after balancing your income and expenses from the beginning of the year, keep some savings for festivals, weddings etc., which you can use to balance the increased expenses during festivals. You can also invest the extra money left in the past months in this fund.
take care of them
With the coming season and new fashion, the sale season also comes. Take full advantage of it. Buy your clothes and most of the fashion in the sale only. Apart from this, shopkeepers keep issuing discount offers to increase sales. You can also take help of online shopping for discounts. At some places coupons or points are given after shopping. By collecting points you get some discount on shopping. Many coupon apps online will provide you all the information about deals and discount offers available for shopping on the internet. Be sure to install such an app in your mobile.
Cash back is often available on card purchases. For this, before shopping online, get complete information about your card. For shopping, choose a card which has high cashback potential. Apart from this, cashback is also available on payment from some apps. Download the app to get complete information about cashback.
things worked
-Bulk shopping is always a savings deal, so buy more grocery, household, cleaning items etc. at one go.
-Buy items which have long shelf life like surf, soap and dry fruits etc. in buy one, get one offer.
-While shopping, only look at the price of the item at first glance, do not buy it. Buy any item only after comparing its price at two-three places in the market. It is possible that the item may be more expensive at the place where you have seen it for the first time. This often happens in fashion products. Being patient in this will prove to be a profitable deal. You cannot compare the prices of goods in a hurry. Be sure to bargain also. Sometimes if the goods are expensive then the matter can be negotiated.
Also pay attention to where you can save money. You will have to make efforts to reduce expenses. For example, instead of ordering food from outside, cook it at home. You can also add a touch of frugality to the purchase of gifts. Instead of expensive gifts, invest in gifts that bring joy. Instead of buying new decorative items every time, recycling old ones will also prove to be an economical solution.
