How to Budget Your Festive Season

Come September and the household begins to buzz with activities of sorts. The evenings at home become more interesting. And the Living room at home enlivens with discussions. It is not just news on the television that occupies your attention, it is time your views and budget plans for the festivals, in the next few months, start shaping up as the big season of festivity draws close.

How to go about it in a planned and budgeted manner involves some planning, some thought that is fun provoking and rewarding and of course, all this involves some fairly good budgeting.

The first formula for Festive budgeting entails:

Involve some thinking in spending –

Buying involves thinking. Thinking not only on how to spend, less or more but also arranging your thoughts for the material/gifts you plan for the house and the inmates. All this calls for effective thinking and effective planning and no matter what don’t change the budget once decided.  

Go slow on spending, plan it!

Planning is done much in advance, at least two months in advance if you have not been putting away small little things from before for the festival season. If you plan out in advance, your spending automatically decreases. Each item for the house or it’s inmates needs thorough planning.

Plan your spending stepwise

In order to plan go with your ideas stepwise. In order to do so, one needs to sit down with each individual to discuss what they want and go for only those items accordingly.

Like, If ‘Home’ remains the ‘common pool’ in which everyone contributes according to their income. Firstly, plan the thoughts for the changes stepwise — the changes that need to be made or the changes that are imperative, then go for it.

Secondly, make a family pool of the funds that have to be generated for the change.

Refrain from ‘Big’ plans

The idea of any dramatic change whether in the house and even for inmates should also be restricted unless the family plans a big budget on account of an approaching wedding or a big family function around the same type as the festivity. Leave out on the idea of a complete makeover at home, unless clubbed with some bigger social function.

Take small measures

Instead of big plans, go for small measures. The wall that needs the most attention, needs to be attended first or even the place that catches the eye immediately because of its shoddy look on entering the home can be redone.

Similarly, brace up your wardrobe not with a complete makeover but change or update an article you need most that give a new look to the entire ensemble, maybe with one expensive item suiting the budget.

Simply, utilize the right approach to solutions

Your living space will be ready to welcome guests into your home invitingly with a new look simply by redoing a few things that needed attention. Maybe an attractive mirror with a fancy light on top lighting the right spaces would just be the right approach to budgeting home for festivities.

Similarly, an article that the festival symbolizes can make as a gift item for everyone as a token to mark the festival instead of blowing the budget out of proportion.

Use sops offered in offseason

In order to budget your festive season expenses, the sops doled out by the market economy from time to time in the form of ‘sale’ or ‘discounts’ need to be used effectively. The pointers above like the effective planning stepwise entail judicious buying at the right time when sops are offered.

Vision your expenses

In order to be an effective budgeted festive buyer — who does not get swiped by sale and discounts and if sops don’t attract you  — vision your festival expenses in advance not by just two months, but as early as the beginning of the year, when you can shop around comparing prices, finding out outlets that have new products offered at reasonable rates on account of any economic reason that finds way in media advertisements and a planned buying that has a vision can be easily observed

Thought really counts

Instead of making unmindful expenses in the market, make space for festive budgeting by making a column that has a ‘do your own thing’,  another great way to save – self-made gifts like homemade cookies, self knitted warm caps and mufflers.

Homemade gifts have a more personal touch and are lovely to receive. Personal gifts like this mean far more and cost next to nothing.

Resist the temptation offered during peak festive seasons, it is for buyers who did not plan the day. Stick to your budget, keeping in mind what expenses you incur in this month have to be repaid in the next. It just requires a small payment — of our attention to our budget.

Therefore, the best way to take control of festival spending remains to budget. Till date listed as the number one tip to stay stress-free in festival season.

So what are you waiting for, start planning Festivities!

Author Bio

Meghan Stark is a professional financial advisor and a key team member of the assignment help team at My Assignment Services. Just after completing his master’s in finance from Deakin University, Australia, he got a project from one of the best multinationals in Melbourne. Since then, he has got him involved with many leaders in the industry. He is best known as the most experienced finance assignment help provider in his company