Let’s face it, Christmas is the time to give and share something to someone special whether they are your love ones, most treasured friends, persons close to you or even for charity works. This holiday season is one of the most challenging times of the year to keep up with your budget limit and to control yourself to avoid over spending.
The festive mood of the environment plus the pressing generous attitude which seems pandemic to evade and of course the unceasing party invitations that seem endless – all of these are also contributory factors that will unknowingly drain your budget if you will be caught unaware on where you are going with your splurge.
It takes a lot of awareness to avoid the temptations which lurk around in this Yuletide season so it’s important to take the necessary steps to be able to manage your finances properly and correctly.
Below are some helpful ways to keep you aware with those temptations that can upkeep you financially safe.
1. Know your budget.
It’s important that you keep an account of your spending within your budget. Make a list of items that you would like to buy or everything allotted in precise amount. Ensure that the amount you set aside is practical and sensible enough to live according to your spending patterns and authentic lifestyle. This will allow you to determine how much money you have to spend and save.
2. Create shortlists of things.
It is essential that spending checklists are handy to supplement your budget. When you go shopping make sure to bring your checklists with you and buy things only that are necessary based on your lists. Since this Yuletide season is the time of giving and sharing, organize yourself with a list of gifts that you would like to buy with a set amount to ensure that you don’t spend more than your budget amount.
3. Identify your weaknesses.
To overcome temptation, knowing your weaknesses are of paramount importance in order to avoid being lured to your fascination of buying things especially those that you don’t really need. Some people are easily convinced by the glib tongue salespersons or response to the tempting offer of products being advertised.
Recognizing what attracted you to temptation in the first place – this will help you mentally and psychologically to stay away from the peril that will trap you once again to fall into a predicament of over spending.
4. Indulge yourself in other interests.
Money spending is not meant to be entertaining and as a way of psychotherapy. An effective way to distance yourself from the situation is to keep yourself busy with other activities like engaging in recreational and relaxing business, visiting friends and relatives, reading worthwhile books and magazines or better yet, do volunteer work to government and private institutions.
5. Learn to balance what you want.
When you are in the situation and on the verge of giving in to buying things or spending money on something that is not really a necessity, you better think twice before you do it and fall into the trap of unnecessary spending instead of wise spending. Try to balance what will be the effect of your decision. For example, booking a nice holiday to Japan to witness the cherry blossom or experience the snow fall this season would mean that you have to sacrifice your savings so you won’t be able to put up a down payment for the service car that you would like to purchase for your business operation. Weighing the situations between need and want is really important before you decide in a manner of priority which one is better for you. Organizing your thoughts and desires according to your aim and objective will assist you to identify whether you want to give in to temptation or disengage while you still have the opportunity to do so.
6. Limiting Your Cards usage.
Self-control and self-discipline are not easy to do if you consider yourself as an impulse buyer. It’s better for you to buy goods or items using cash on hand to avoid temptation, or simply leave your ATM card and credit card in a safe place at home if you don’t intend to buy something that you really planned to do.
7. Avoid retail outlets and shopping centre.
If you don’t have any business going to malls or retail stores, you’re better off not visiting them especially if you’re an impulsive buyer. You can simply set a place to meet your friends somewhere else. If you can’t keep yourself away from the mall because of personal business, then avoid loitering around leave the place as soon as you can, go home and rest or engage yourself in other worthwhile activities.
