What’s up y’all? I smell the Christmas festivity in the air once again, don’t you? The time when we close stocks and buy more stuffs. The time when we stock the store room with food, drinks, gifts and so on. The time when we clean out the refrigerator and stock it up with candy bars, cakes and juice cans. The only time when some families use their gas ovens either to toast the chicken or turkey or actually bake something.
With all the fun in the preparation of the remembrance of the birth of Our Lord and Saviour Jesus Christ, it may be nice to stick to a budget while procuring items either from local shops or online stores.
The importance of sticking to a budget during this period cannot be fully overemphasized. Often times most people spend so much during Christmas and go completely broke as they launch into the New Year. They practically forget that their children’ tuition fees for the next year will be paid with money and not the faeces and leftovers from all the merriment of Christmas. One thing is certain, being broke after a long spree of enjoyment is worse than drinking a bottle of tonic soda. Here are my 2 power tips to not getting broke after Christmas shopping.
Draw a budget, though mentioned in the previous paragraph but it’s practicable reality in all money related spheres. If a country that owns the Central Bank which handles money printing can draw a budget each year why then shouldn’t you as an individual do the same.
Drawing a shopping budget isn’t as hard as hitting CTRL + ALT + DEL on a keyboard with one hand. All you need to do is simply use a checklist.
List out all the things you intend buying, then use a scale of preference to separate your needs from your wants. Now write a new checklist and list your needs in an order of priority.
Set up a percentage of your income you intend to spend in such a way that there will enough for you to deal other things after the Christmas shopping. Now systematically forecast the prices of all the items listed and the total amount exceeds the budgeted amount, simply cut your checklist or reduce the quantity per item.
“Cutting a checklist of your most wanted shopping goods may be tough in the beginning but a trick could be buying unbranded products too. (Winks)”
The next power tip is to load your shopping card with the exact budgeted amount keeping in mind that you don’t want to mop the floor of the store if you can’t pay for any excess. I personally have a shopping ATM card, two to be honest. One’s prepaid while the other is a Debit card. You use I don’t use credit cards so I don’t fall into debt. What I simply do I transfer the budgeted shopping amount from my actual savings account to my shopping card. When going out to shop, I make it a habit to put an extra note in my wallet to cover transportation and tips and my shopping card.
PS: Never go shopping with your savings debit card.
It takes discipline to eliminate bad habits and replace them with good habits. However you are not alone in this. Shopping alone could be a nice way to stick to a budget but you can’t resist then get someone to shop for you as they can’t buy what’s not on your list.
Merry Christmas from Emmanuel A. a freelance writer, copy writer, proof reader and entrepreneur who enjoys writing and reading articles alongside making money online and offline.