The festive season is here again, and the mood is already cheery and yearning to buy something new. Discounts and freebies have started showering to allure the buyers. However, as a buyer, make sure to pick the best bargain for you by comparing your options.
As always, the festive season is a busy time for the households across the country. This is the time when we plan to deck up our houses with new stuff. Not only this, we spend a lot of money on gifts too. However, with so many discounts and offers, spenders get overwhelmed with choices.
Nevertheless, you need to stick to a budget, as always suggested by personal finance experts. So, how do you make sure that you pick the right stuff without making a hole in your pocket?
Here are a few easy tips, so you do not overdo your budget and still get the right pick!
Make a budget
Festivals are the fun times, and this is the time when you do want to indulge yourself and your loved ones. However, to keep things in control even after the festivities are over, it is crucial to set a budget for all festive spending.
Make a list
Apart from budgeting, it is better to have a list of people for which you want to buy gifts. It also helps you pick the right gift for every person. Also, to avoid haste purchases, you can shop well in advance too.
Picking the right gifts
Choosing the right gift is very important as markets are flooded with all sorts of things, and most of them of them are not much use to the receiver. So, you need to spend your money on the gifts that are well received by the recipient. For instance, if you are buying utility items like crockery, or bedsheets or even pen drives, you can purchase such stuff in bulk, say 4-6 pieces together to save your money.
Make price comparison
Once you have the list, you can shop around; both online and offline. Compare prices across various outlets. Also, if you are not buying any branded item, you can visit wholesale markets also to get the best deals.
Do not get fooled by discount numbers!
Sometimes, you simply get attracted by the discount schemes floated by the marketers. But, you need to use your common sense and little math to know the right deal you are getting for a particular discount scheme. For instance, one shop is offering “double bonanza” in the form of double discount, and another shop is offering a simple discount of say some x%. When you do your math, you may find that the second shop that is offering a mere single numbered discount is actually selling cheap than the shop that is offering a double discount. Also, look at the tax part too as discounts are offered on the pre-tax price of the product.
Gift cards are good option
While purchasing a gift for someone, you have brainstorm too much to pick the right gift for the recipient. To solve this issue, you can opt for gift cards. The beauty of gift cards is the receiver gets to choose the kind of stuff he or she likes. There is a wide variety of gift card are available; right from movie tickets, to retail outlets to the spa, cosmetics, and lot more. However, while choosing the one, make sure that you buy it from a retailer that is well established and has outlets in different regions. Also, if you know what the person like, you can buy gift cards of a particular company, otherwise, buy such cards that are acceptable at multiple merchant outlets.
Also, avoid buying gift cards of large denominations because gift cards can be used only once. For instance, if you use a 2000 INR value gift card to buy 1500 INR worth of product, you will have to lose 500 INR as you cannot use the card in future. So, it is better to get gift cards of small denominations such as 250 INR or 500 INR. Also, check the validity period of the card, and it is better to get the ones with a higher validity period.
Using credit card can be tempting for many reasons, but not at all recommended to do festive spending on credit. Keep in mind that interest Charges can be as high per annum. It is better to use your debit card, mobile wallet or cash.
Money as a gift
Yes, money can be an ideal gift if you do not get any gifting idea or you do not have time to buy a gift. It saves you to spend your time and energy to choose and purchase a gift, and at the same time, the receiver can buy anything he or she likes from this gift money.
So, you see with a little smartness; you can choose to have your cake and eat it too. You can save money without compromising on your happiness quotient. Hope these pointers will help to tame your spending spirit and aid you in enjoying the festivals to the fullest.