5 sure-shot tips to keep the festive expenses under control

Do the festival's expenses aggravate your financial health? Here the tips to keep the festive expenses under control.

Created On: Oct 23, 2017 18:49 IST
Modified On: Nov 3, 2017 17:38 IST
5 sure-shot tips to keep the festive expenses under control
5 sure-shot tips to keep the festive expenses under control

India is a land of festivals and rightly so. In India, we celebrate a variety of festivals for different religions, occasions and social customs. With festivals come the long and extensive shopping list that can easily throw your monthly budget out of gear. But, as festivals and celebrations are the events that add new colour and enthusiasm in our otherwise boring routine life; it is imperative that we do not worry about the festive expenses incurred.

Festivals bring happiness and prosperity in our lives, so we don’t want to miss out on the celebrations. In excitement, we begin to buy gifts, furniture, jewellery, other stuff andovershoot our monthly budget even without thinking about it. But, soon we realize the cash crunch that the festive season has put on our bank balance. But what if I told you that there is a  more simple way to manage your festive expenses without overshooting your budget. Want to find out how? Read on!

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Prepare a shopping list

Before every celebration, we begin to make preparations for festivals. In excitement, we get into days long shopping and exhaust our bank accounts even buying items that are not really required. Making purchases without a list is something that doesn’t allow you to think whether the article you’re buying is useful or not. Spending money on such articles can make the festivals expensive. And you can’t keep your festive expenses under your control once you begin to spend your hard-earned money this way. This goes without saying, if you start shopping witout even deciding what you really need, you are bound to buy things that are not needed and end up overshooting our budget. To keep the festive expenses under control, preparing a list before your visit the market. It can help you to keep a good control on your festive expenses.

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Shop smartly

Festivals are also the season of ‘SALE’. During the festive seasons, almost everycompany offers lucrative deals to maximise the profit and number of their customers. These companies compete among themselvesto make the deals attractive for the customers. They give extra deals on clothes and other accessories. This is how companies persuade their customers to buy their products. Check out these lucrative deals and compare them before the purchase. Moreover, the companies also give cashback offers when the customers make purchases with credit cards. You can save some extra amount of money if you use your credit card for purchases. It would help you to keep your festive expenses under control. So, check out extra deals and cashback offers before beginning to make purchases during festive seasons.  

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Home decoration

As part of our festive celebration, we decorate our houses and buildings on every special occasion. We buy new curtains, cushions covers, rugs and some other accessories to give a new look to our houses. Buying the accessories on every festival is something that easily increases the festive expenses and makesthe festivals expensive.You can lose control over your overall monthly budget once you spend a particular part of the salary to buy these accessories. Instead of buying these accessories on every festival, use home-made drapes of beautiful old sarees and repurpose other household items for cushion covers and curtains and other decorative acessories. Even decorative items can be made DIY style right in your home. Even something as simple as rearranging the furtunire can give your home a completely new and fresh look. So, before you start buying your decorations, please try to make some of your own.

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Arrange party at home

Be it Diwali or Eid, almost every festival calls for a lavish family meal. But gone are the days when people would toil hard from morning till evening to cook a scrumptious meal at home. The new trend is to go out to restaurants along with your family and enjoy a comfortable lunch or dinner.

But, even restaurnats and hotel owners have also realized this trend and have started hiking their prices during the festive season. During the festive season, restuarnats and hotels are full to the brim and this further gives them the option to hike the prices further. End result, you end up spending a signficant amount on the restaurnat bill along with all the taxes that go along with it.

Therefore, instead of choosing this expesnive option, you can opt to throw a house party. Another interesting options would be a BYOF (Bring Your Own Food) type of pot-luck lunch or dinner on the festival. This will not only help you steer clear of the expensive hotels but also make sure that you eat healthy and home cooked food on the festival. So, instead of going to expensive restaurants and hotels, arrange parties at your home where your friends and relatives can get together and have fun together. It can reduce your festive expenses. 

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Give personalised gifts

No festival in India is complete without gifts. On every festival, we exchange gifts with our friends, relatives and family members. And when it comes to expenses, gifts make up a significant part of our festival expenses. On every festival, we spend a good amount of money to buy expensive gifts for our family members, friends, and relatives. After the celebration of the festivals, we begin realising these gifts are not really useful in daily life. Therefore, buying and giving expensive gifts is something that cost more than the worth. So, buy small, thoughtful gifts for your family member, friends, and relatives that they can use in their daily life.

Alternatively, if you are into DIY, you can create your own personalized gifts using the items available at home which can give a unique touch to your gift. For instance making a jewellery box from the cardboards available at home or a small sketch of your relative will leave a lasting impression than a dinner set or any other generic and expensive gifts.

To sum up…

Keeping the festive expenses under control is challenging task that we can’t face without a clear understanding of our spending habit and a plan to keep the things under control. In this article, we have elaborately explained how one can save an extra amount of money while spending money on home decoration, shopping, gifts, and parties.

If you feel we have missed out on any other important aspect that can help others in keeping the festival expenses in check, please share them in the comments section below. You can also share this article with your friends and family members to help them control their festive expenses. To get such articles regularly, please subscrbibe to our newsletter. We would gladly send interesting articles related to office life and financial managmenet directly your inbox.

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