Overspending This Festive Season? Here’s How To Audit Your Budget Before It’s Too Late

With just a few days left for Diwali, Dhanteras and Bhai Dooj, most of us have already started feeling the festival excitement. This is also the time of the year when shopping for gifts and decorations, buying sweets or new clothes can turn into impulse purchases, thus creating a dent in our pockets. As such, before you make your next impulse purchase, it’s important to review your Diwali budget.

Here’s how you can enjoy the festivities without regretting your spending later.

Begin by taking stock of what you’ve spent so far this festive season. List every purchase, from gifts to home décor, and tally them against what you had originally planned. Seeing numbers in black and white tends to serve as a reminder and prevent impulse purchases.

Festive shopping often comes with pressure: gifts for relatives, new outfits or elaborate puja items. Prioritise what is essential and what can wait. Focus on Dhanteras necessities such as gold or silver shopping if you intend to buy them, and minimise discretionary spending in the form of decor or accessories.

Set a budget for each category, be it sweets, gifts, décor or puja materials, and stock to it. Don’t cross-budget. For instance, don't use your clothes budget to buy extra sweets. Using cash envelopes or digital budgeting tools can simplify the process.

Festivals, such as Diwali, are synonymous with sales. But these discounts don’t always translate to savings. Compare prices online and offline and make purchases only if they actually save you money. Refrain from last-minute indulgences.

Last but not least, maintain a record of all transactions. Even small purchases such as diyas, candles or snacks can add up substantially if you don’t keep track of them. Use apps or a diary to record these small expenditures, keeping your budget safe.

Festive joy doesn’t have to come with financial stress. By auditing your Diwali budget now, you can celebrate Dhanteras, Diwali and Bhai Dooj with peace of mind, enjoying the lights and sweets without the guilt of overspending.