How to Financially Prepare for Christmas

Christmas season begins as early as September in the Philippines. This consists of making plans wherein the whole circle of relatives goes to spend the vacations. Christmas events come as endless streaks of company and include celebrations with lifelong barkadas.

Between all the planning and the vacation spirit that incorporates the endless playbacks of each unmarried excursion-themed tune and jingle, we overlook that each move has a cost. There’s all this exhilaration that you may get swept up in that finally ends up putting pressure on your price range.

So, what precisely do you need to put together your price range for? Here are 4 things that without a doubt take the list.

Noche Buena

The meal together with your own circle of relatives on the 24th is a reasonably massive deal. Prices of the meals that is typically a part of Noche Buena tends to spike among the months of November and January, so in case you need to store cash while getting ingredients, consider that usual items – like cured ham – promote for much less according to three hundred grams (round PHP 100) than if you acquire a whole kilo (round PHP 550). Then you can add more food to your holiday menu.

If your workplace offers out holiday baskets, you could typically reduce spending on ingredients. You also can transfer up the standard fare of pasta, ham, and fruit salad with different dishes to get a few ranges for your Christmas meals.

Presents

The rule-of-thumb is that your Christmas budget should be 1% of your gross income. This creates a win-win scenario for you and the person you’re gifting. A PHP three-hundred worth present card, digital coins, or even ampao envelope would be helpful in letting the recipient choose the gift they want. Apart from that, choose a gift that will help the future of your loved one. A simple voucher to an online personal finance class or even investment gift certificates should help them improve their money decisions!

If you and your own circle of relatives plan on exchanging presents, have a wish list with a price range so that everyone will get a chance to set their spending ceiling ahead of time.

Impulse Buying

There’s this thrill that incorporates getting your 13th-month pay, and any bonuses that include your paycheck. It makes sense to do a little shopping to reward yourself for all your accomplishments within the year.

Before you cross on that emotional sending spree, consider that there are different approaches you could “shop” for yourself. A device well worth PHP 40,000 is probably all bright and appropriate, however remember that gadgets come and go. Next thing you know, new models have arrived on the market.  Remember that price doesn’t usually decide quality. Spend your money on things that will matter to you know and will make sense in the future.

Parties/Reunions

Christmas time is reunion time for everyone all around the world. You’ll be roped into both flying either abroad or domestic to meet with your loved ones. Unless you’ve booked tickets in advance, you’re looking at PHP 3,000+ one way airfare to a near destination. Travel charges might be large until you discover seat sales.

Forget about impromptu travel! Make sure you will have a good time now without having to regret an ounce of it in the future. While Filipinos are used to going all out during the Holiday season, it does not have to be that way all the time. You can still have fun during parties and reunions without breaking the bank or having to work tirelessly in the next months.

Celebrate without breaking the bank!

When the “ber” months arrive, Filipinos are known to get into the Christmas spirit. Because it always puts everyone in a loving, joyful, and giving mood. But when it’s just a few days until the Holiday season starts, the Filipino spirit altogether changes. Christmas is the biggest and longest holiday that Filipinos celebrate. People also gather with friends and family at this time of year to express gratitude for the important relationships they have. While gift-giving, reunions, and parties, as well as shopping will always be on the list of activities Filipinos love to do during the Holiday season, it never hurts to always have expenses on check. Make sure to leave yourself plenty for the next year!