Formulating a budget is just one of a bunch of ways you can save this Christmas holiday and go into the new year smiling with your full pockets.
The magic of Christmas is one many people look forward to every year. It is probably the only time of the year when people go all out on spending, aside from other celebrations in between. Technically, ‘what is the worst that could happen?’
Well, there are a million worse things that could happen. For one, there is the possibility of overspending that could render you broke senseless.
That is why many people complain when the new year comes around. They barely have money for school fees, let alone rent.
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Here are some effective ways to cut costs and still enjoy yourself this Christmas:
- Formulate a financial plan
This is more like a budget. List down the things that you would like to do or buy for yourself and your family, or even the places you would love to visit as part of your vacation.
Draft the expenses you will incur during the whole experience, that way you will know which ones are worth the trouble and which ones can be foregone.
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- Customizing gifts
Somehow, gifting is slowly picking up as a Christmas tradition among Africans. It is not only thoughtful but very sweet.
The best way to save while gifting is by creating gifts from scratch. Customize gift cards or wrappers. You can also re-gift.
It helps you cut down on the expenses you could have used to buy expensive gifts or gift cards.
- Take advantage of those discounts
Be sure, those out-of-the-world discounts being advertised on TV are not for nothing. They are the perfect leeway for you to save some extra coins.
Do not be shy about utilizing amazing deals, offers, or discounts. You may look cheap for doing so, but they are your ticket to a more stable pocket. Just look at the bigger picture.
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- Avoid loans
Unfortunately, some people result to getting loans for enjoyment. This You only live once mentality is going to get you killed come January.
If you can help it, stay away from these shylocks, mini-loans, tala, and branch kinds of creditors. It only gets harder once you have to repay the loan in the new year and you don’t have a single dime.
The best way to ensure you have money for the end-year celebrations is to start saving as early as January.
