Festive Buying Tips: How To Make Smart Purchases Without Overspending

The festive season is about to begin, starting with Ganesh Chaturthi this month and going up to Christmas and finally culminating in New Year celebrations. It is also a time when people shop the most for expensive electronics, clothing, jewellery and gifts.

Festivals are joyous occasions, but if expenses are not planned prudently, you're likely to end up burning a hole in your pocket. Here are some tips on how to enjoy and have a great festive season without breaking the bank.

Festivals have a way of tricking us into impulse buying. Allocate a budget for festive expenses before you actually step into a mall or shop online. This could split into categories such as gifts, clothing, decorations, food and travel. This small exercise can go a long way in ensuring you don't get carried away by discounts and offers.

Ask yourself if a purchase is truly necessary. Essentials like party wear or home supplies can be lined up for priority, while luxury buys can wait if you have not budgeted for them. This way you can avoid unnecessary expenses.

Since online retailers and e-commerce platforms launch promotions prior to the holiday season, compare prices from more than one website and shop. Offline retailers also offer festive discounts and attractive deals. Hence, comparing online and offline prices could help you save money.

If you are using credit or debit cards, remember to use reward points or festival cashback offers. Banks often tie up with brands or retailers during festivals, offering extra discounts or EMI options at minimal interest. This will help you to get the most out of your credit and debit cards.

Though celebratory deals might look appealing, avoid swiping your credit card beyond your repayment limit. Interest charges on the outstanding amount can easily wipe out the benefits of any offer or discount.

Apparel, movie tickets and even food, the prices on everything spikes closer to the festivals. Shop in advance to save money and to get better options. Early planning for travel or gifts can reduce last-minute high-value expenses.

Bundling up with family and friends for bulk purchases, whether it's sweets, decorations, or gifts, will get you better deals. Most websites offer attractive deals on bulk purchases during the festive period.

Festivals are all about having fun with friends and family, not about depleting your bank balance. Through some planning, smart shopping and balanced spending, you can enjoy the festive season without fretting over overspending.