The yuletide season is one of the most anticipated periods in the year. Organizations usually round off their business year and give employees a break to relax from the hustling and bustling of the year. Some other organizations would do all out to make good sales using promo sales as a yardstick for drawing customers to patronize their customers. In Nigeria for example, a market chain store for household items as shoes, clothing, kitchen utensils, and whatnot was sold in the early part of December in what was called Black Friday.
There is no gainsaying that during this season, an individual's appetite for shopping is on the increase. Most people are usually carried away buying what they do not need.
To avoid needing the years as a debtor, one must carefully observe not to engage in what could cause him financial enslavement. Hence, the following step could be of help in your spending spree this season.
Plan A Budget
In this direction, we plan on the physical and present resources. This is a strategy adopted by ancient economics in managing their capital and human resource. Hence, after making your plans and hitting the shopping mall, it is important to stick by your plan.
While you make your plans, you may decide to add gifts for individuals within your capacity. Gifting should not be a thing of compulsion.
Clampdown on extras
Since your budget has spelled out what it is that would be going for what, there may be a need to make extra purchases, at this point, one may decide to overlook what has not been written down in the budget or if such items cannot be replaced, then we cut coat with the scope of the budget to fix it. For instance, what will be doing with a bottle of wine that costs $100 when you can get this same satisfaction with a bottle of wine that costs $25 or thereabout.
These are times when money can be easily spent and without care won't come back to the spender. We should rather invest for an expected Return On Investment ROI.
Compare Prices
You know, the same brand can be sold for different prices depending on who is buying and where the good is being sold. If I would have to buy a shirt at Konga.com for $25 that same shirt could be sold at Jumia.com for less. So, I rather do for the one that will save me more money.
Monitor Your Spending
One complimenting factor of your budget is that it must be closely followed and spending jealously checked, else one will be forced to spend beyond that he or she had bargained.
One way to monitor your expenses is to write them down. Your smartphone can do the job pretty well.
Understand The Reason For The Season.
Aside the spiritual aspects of some of these festivities, the season is to be among family and to spend time with them. Spending too much time in the shopping mall or in drinking pubs would only amount that one overspends.
You shouldn't go borrowing money for a celebration that will end in one day. It is not a wise way of borrowing. Drinks and food are.part of our everyday life, hence it is not advisable one borrows only to drink and eat and become indebted afterwards.
Begin To Make Financial Preparations for 2022.
After each celebration period, the question that comes to mind is:
What next?
Truth is that there are only few days separating the festivity time from the new year. Hence, we should not spend all our savings for the year lavishly without thinking of tomorrow.
Don't forget that those marketing jingles you hear all over the media is to make you open your wallets. You should rather be smart and think fast. That's how to think financial freedom in the coming year.