With the world celebrating Christmas today, the air is rife with joy and merriment. People are visiting churches, meeting friends and enjoying the spirit of Christmas. You too are in a great mood today and wish to be as much generous with your friends and families in considering gifts and novelties for them. When you do so, why not consider a gift for your personal finances as well? Wondering what that can be? How is that possible? Well, you can resolve to start afresh for the year ahead with little commitments made to your personal finances on this auspicious occasion.
Plan your budget
You know how difficult it is to manage finances especially when things are not planned ahead. In fact our professional lives consume so much of our time that we are always running short of our personal space. This Christmas however, you can resolve to do much better in terms of planning your expenses. Of course, you cannot plan for emergencies, but you know that there are a whole lot of expenses that really do not mean much and you can easily make do without them. So, to set your plan, document them in pen and paper or on your personal system. And once you have that, stick to it. This way, you’ll know what is excess and needs to be culled off.
Avoid credit cards
The holiday has just begun. And like many other festivals in India, Christmas too is equally exploited by various marketing offers of products and services. Don’t be surprised if you receive calls offering you Cash on Call facility on your existing credit card or an offer to convert your large purchases into EMI (Equated Monthly Instalments). Because once they get on in a business with you, it’ll be easy for them to charge you for their service fee in form of myriad hidden charges. We all know that terms and conditions are subject to revision without notice, most of the times. In case you do not own a credit card, congratulations and stay blessed.
Don’t get lured by festive offers
End of the year festival season is also a time when shopping offers are galore in the market. While it is tempting to indulge in them, be sure that you do not get tempted to spend more for things that you do not really need. You are actually making your own disposal bag without your knowledge by falling into a shopping spree.
No to debts
Wait, were you considering a debt for this holiday spending? Don’t! Debt causes both emotional and financial stress and can really impact your personal finances. You can gift simple things that may cheer your people rather than ostentatious gifts that will leave a weal on your personal finance.
Celebrate the spirit of Christmas
To emphasize the true spirit of Christmas, consider gifting the disadvantaged your old clothes, bake a cake at home and walk down midnight with your family singing carols and distributing the same. If you enjoy the experience, you can set this as a family tradition for your children to follow such loving values.
