The Pitfalls Of Spending During Christmastime

General Finances, Spending
By Sha Osman,

Once again we have entered the Christmas season, which for many celebrating means a season of stress. What gifts do you get for loved ones, friends, and/or those at your office party? The season of gift giving brings many challenges, so provided are some helpful tips that may help aid the all too familiar shopping dilemmas.

What to get, what to get

Many of us probably spend too much time wandering through the lanes of department stores, further conflicted about what gifts to get for loved ones. Not only does the shopping lead to poorly-planned purchases and overspending, but you may also find your precious time slipping away right before your eyes. So before you embark on your next shopping trip, why not start by making an exact plan for your gift purchases? A plan will help mitigate over over-expenditures and keep your gift-giving on track.

Where did my money go?

The experienced Christmas shopper is familiar with large signs reading “Up to 70% off” or “Buy One Get One Free,” decorating store windows alongside tinsel and bauble displays. Many would find it hard to let these golden opportunities slip, and as a result give in to their impulses and buy items they might not necessarily want or need. Along with fancy dinners and Christmas parties, many begin to feel the growing hole appearing in their wallets. To better manage your Christmas spendings, try planning and keeping to a Christmas budget. It prevents you from overspending and helps you gain control over your festive expenditures.

The party’s tomorrow and I have NOTHING ready

Ever wonder where the two months before your Christmas gathering went? As much as we want to push our Christmas shopping back to “the next weekend,” it is hard to account for future commitments. Before you know it *poof* – you’re out of time! The solution is online shopping. Not only can you do your Christmas shopping in your downtime, but shopping online also helps you get the best deals by comparing different retail prices of the same gift. Online shops such as Lazada, Shoppee and Amazon also offer great deals around the festive season, so why not give online shopping a try?

Why is everything so dang expensive?

Many of us hope to get something nice for friends and family, but a common complaint amongst shoppers includes high pricetags. Aside from purchasing gifts, why not consider DIY-ing some of them? Not only will it not put a hole in your precious wallet, but it also adds a personal touch to your gift – something money can’t buy. If making a present doesn’t sound like a task for you, you could also make plans to spend some quality time with your loved ones, and tackle activities like baking or simply watching a movie together!

All in all, the festive season is one that celebrates family and friends and presents opportunities to connect with your loved ones. Start planning ahead, save where you can, and don’t let the gift giving get the best of you. May you all have a lovely budgeted Christmas season with your friends and family!!

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