Everyone has a tendency to overspend, but during the festive period, we might make mistakes in particular. Despite the best of intentions, the majority of us set plans to stick to a budget, buy only a few Diwali presents, or invite just a select group of friends around for lunch or dinner. However, sometimes things do not exactly go that way, and we end up having a miserable time after the festival as we try to make ends meet until payday. Fortunately, there are ways we can use to make sure December does not turn out to be the bad month for finances:
Grocery shop like an economist
There are numerous ways to save money when it comes to purchasing groceries. Accept the idea of scale: you will probably save money if you purchase in larger quantities. If you have extra food, put it in the freezer. Purchase in-season fruits and vegetables, as they are significantly less expensive. Try to avoid purchasing fruits and vegetables that have been packaged and cut. It's usually less expensive to purchase them whole and chop, slice, and cook them yourself.
Make a budget and follow it
This is a good opportunity to review the concept of making and adhering to a budget. Start by assessing your current financial situation and creating a budget that considers your post-festive season expenses. Make a list of all your financial obligations, such as bills, loans, and necessities like groceries. To combat the blues, figure out what you can afford and stick to it. To keep track of your spending, make sure you have downloaded the appropriate banking app or check your bank account online on a frequent basis. Whenever you spend a penny, make sure your phone receives an alert; this will help you stay on top of everything.
Limit your indulgences
Give up the coffee you get from your neighbourhood cafe when you get to work. Refuse those invites to grab lunch or supper with your buddies; you can do that in another month when you have more money. Prepare your own lunch to bring to work; if you get takeout, you could be tempted to spend more. You can also identify other areas where you can cut back on spending. This could involve cancelling unused subscriptions or finding more affordable alternatives for your regular expenses.
Stay at home on weekends
Staying at home will make sure that you don't feel pressured to spend more money than you can afford, even though it may sound monotonous and irrelevant. Use and enjoy your Diwali gifts to keep the family and yourself occupied. Watch your favourite movies from your collection; it's less expensive than going to the movies. Invite your pals over for some board games at home instead of going out, and use the leftover Diwali goodies.
The feeling will pass too
You have to accept and recognize that you could be experiencing post-holiday blues. Prepare yourself for any feelings or experiences that may arise. Take special care of your physical and mental well-being, even though it may feel like the blues won't go away. Remember that you are not alone in this. The holidays are a recipe for mixed emotions. The key is to be aware of how they will impact you. Don't let these spending blues affect you.