Now that the festival season is just around the corner and everyone in the family, let it be a child or a grown up or an old, has a long shopping list for the festive season. And there’s a very important question we need to ask ourselves, “Are we financially prepared for this festive season?”

The business houses come up with very attractive discounts to ensure the customers do not only buy which they have planned for but also the customers buy more than what they have planned. With the ease of plastic money and credit cards, people tend to spend more as they don’t have to pay upfront for their shopping and they get a credit period of 30-45 days. These special discount offers and credit card many a times lead to impulsive buying and once you start swapping your credit card, it becomes very difficult to resist the temptation of buying more and people end up buying even those things which are of little use to them.

The idea of writing this post comes with some experience, where our clients end up jumping beyond their Financial Goals and ultimately put themselves and their Investment Plans in jeopardy.  But it is completely human – we are all having our default systems in such way that the month of October makes our pockets easy and moods are all about Shopping. And then the beautiful marketing gimmicks add to our spending powers. Keeping the annual trend in mind, we thought to bring an Alert in the form of following Do’s &Don’t’s for this festival season.

So how can we plan our funds for the festive season? Here are some tips which will help you not only to plan your shopping this festive season but also help to utilize your funds in an efficient manner:


Be honest to yourself while creating a festive budget and stick to it. Dramatic changes in your spending patterns during festive season can have severe consequences on your financial health. Festive spending should not be more than 25-30% of your normal spending pattern.


Plan your shopping list keeping your budget in mind. Avoid impulsive buying those gifts you din’t plan for.  Distinguishing needs and wants is the key.


Start shopping early. The sooner you start the more information you will have on the products you are planning to buy. Shopping online is also a good idea as you can compare the prices of different online retailers and strike a good deal.


Pay in cash for, if not all then bulk of, your purchases. People who use credit cards for their purchases spend an average of 30% more than people who buy in cash. Don’t borrow to spend. Remember it costs money to borrow money as it’s not always free to borrow.


Instead of buying, make your gifts. It puts more heart to the gifts and such gifts are valued more than the expensive off the shelf gifts by the receivers. It also brings Personal touch and create better relationship bonds.


Sales are irresistible butsaving is irreplaceable. These days the sales are not only offered during the festival season but throughout the year ex., End of Season Sales, Year End Sale, Stock Clearance Sale, Independence/ Republic Day Sale etc. Visualize what you want to save and start saving more and invest what you save.

FESTIVALS are about SAVING- Remember that!

Don’t forget to buy an investment plan. Our ancestors had realized the importance of savings and investments long back and that’s the reason we celebrate ‘Dhanteras’ as a festival wherein people buy Diamond/Gold/Silver. These days we have so many other investment avenues. Buying an investment plan is a must.

I am sure these tips will help you take good financial decision this festive. Spend wisely, save more and invest prudently. Enjoy the Festive Season ahead.

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