Ten things you can do to maximize your holiday budget

Ten things you can do to maximize your holiday budget

This season of gifting, how will you make the most of your holiday budget and still have extra come New Year’s Eve?

Set a real budget and stick to it

If you’re a working professional, don’t use your entire 13th month pay for your holiday shopping. Best to have money set aside even before you get your bonus. This way, you know exactly how much money you’re allowed to spend to properly allocate your Christmas bonus.

 

Make a list and check it twice

Once you’ve figured out how much money you’re willing (and more importantly, allowed) to spend, list down the people whom you want to give gifts to this Christmas and add how much you’re going to spend on each person’s gift to avoid overspending.

 

Stick to your list

Whether you’re shopping online or you’re at the mall, make sure that you don’t get distracted with the many things on display. Stick to your list and only buy what’s written on it.

Do your research

To avoid being overwhelmed with the amount of product options that are made available this time of the year, decide first on which items you want to give. Put your research skills to the test by scouting for the best deals and best stores to get them. This saves you cash and precious time at the mall.

 

Try online shopping

If you want to save on time and fare, why not check out online stores? You’ll be able to shop at your own time and review the items that you’re getting, avoiding impulse purchases as compared to when you’re feeling stressed at the mall.

 

Watch out for online or in-store sale events

Since you already have an idea of what to purchase, keep an eye out for upcoming sale events where you can score the items on your Christmas list at better prices.

Get crafty and creative

Save up by giving more personalized gifts. For example, buying candies and chocolates in bulk and using them to fill up mason jars  will make it something that your friends and officemates will enjoy receiving.

 

Be more resourceful with your gift wrapping

From sourcing out materials that you can recycle or asking the stores you bought your gifts from for free wrapping materials, you can really save a lot of money if you’re more resourceful.

 

Track where your money is going

Sometimes we can get too caught up in shopping that we end up forgetting how things can easily add up. To ensure that you’ll be able to stick to your budget, deposit it to your debit card account or e-wallet and only use it each time you’re buying a gift.

 

You can deposit your gift-giving budget in a mobile wallet like PayMaya so you only spend what you have. Through the PayMaya app, you can easily view your list of expenses to see where your money goes.

You can use the in-app PayMaya virtual card for online shopping, the physical card to swipe in stores, and the app for QR code payments in select merchants like SM and Robinsons Department Stores. If you use your PayMaya until December 23, you can have a chance to win a million pesos in the Merry Millionaire promo.

 

For more info on PayMaya and the Merry Millionaire promo, visit https://stories.paymaya.com/get-a-chance-to-win-p1million-with-paymaya-merry-millionaire/

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#career #self #shopping

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