Last update: 23/12/2022
As the year draws to a close and a new one begins, perhaps you feel overwhelmed by the celebrations, presents and trips. However, all these great memories can bring about an increase in your expenses. Discover five tips to watch your pennies over the festive season.
Between the street decorations, the magic of deciding potential presents and any last-minute deals, there are many temptations that pushes you to buy more products and services during the holiday season. Not having a plan in place to overcome these temptations means that you are more likely to fall under the spell of financial biases. These biases entail that you subconsciously disregard critical reasoning when it comes to deciding if a present is in your budget, or if it is needed, as you are compelled to buy things without considering the consequences.
How to celebrate over the holidays and still save
In previous years, you may have been tempted to buy more than you had planned. You probably realised after the negative impacts that this impulsive buying had on your personal savings. With the following five tricks, you can enjoy the festive period without getting stuck in the same cycle and feeling the impact on your finances.
Lastly, as well as keeping these tricks in mind when buying certain products and services, don't forget to implement responsible consumption in your household. Household consumption is typically excessive over the festive period. For example, lights are left on to decorate various rooms or various home appliances are on at the same time when cooking. Not only will this run up your bills but it will also have a negative environmental impact, exacerbating the environmental and energy crises. It is helpful to always have these tricks to hand, as they can be applied all year-round. You can improve your financial health by starting the new year with these resolutions.