December 16, 2022
While “the most delightful time of the year” is undoubtedly a joyful time, the financial strain of the holidays is stressing out many individuals and altering how they celebrate.
To maintain their holiday customs, Filipinos are spending more money than ever on presents, travel, parties, food, donations, and decorations. They are spending between 300 and 500 pesos each person just on gifts. If you are looking into cutting costs and making sure you are not financially stressed, take these three foolproof tips!
Knowing where your money goes, whether you refer to it as a budget or a spending plan, reduces stress because it eliminates surprises. Budgets aid in managing and prioritizing your priorities. The most important thing during the holidays is to have a thorough budget. Make sure to set aside money for extra food, travel, parties, charitable donations, and gift-giving throughout this season as well. No plan is flawless, but you’ll feel more in control if you spend with more awareness.
Giving gifts can cause a great deal of anxiety. What are they seeking? What do I give someone who has everything and has money to spend on anything? What won’t be a financial waste? Will it show up on schedule? The worry of an imbalance in gift-giving is another. What if someone receives more? What happens if the gift I give is less expensive than the gift I receive? There are ways to avoid making the holiday gift exchange appear competitive due to the pressure to perform or impress.
Ask: Although some may feel that if you must ask, it doesn’t matter, you’d be amazed at how many will simply tell you what they want, and you might be shocked by their response. It might be something you never would have thought of. Or maybe they would rather spend time with you in a meaningful way than receive a material object. Either you’ll learn what people really want, or you’ll learn that they prefer a surprise. In any case, you are receiving high-quality knowledge, and the more specifics you learn, the less you must speculate and worry (and possibly spend).
Divide and conquer: Think about participating in a Secret Santa gift exchange if you have a large family or network of friends. You’ll save time, effort, and emotional turmoil in addition to money. Additionally, potlucks with allocated dishes and children in charge of making crafts or planning activities can ease the burden of having to pay for everything and handle everything yourself.
Self-care can be the ideal treatment for your stress, whether it be related to money, work, or general tension. There are many free ways to take care of yourself, such as taking a bubble bath or practicing a 3-minute meditation. Other cheap ways to unwind and relieve stress while savoring the specialness of this season include watching holiday movies, caroling, sledding, recalling cherished holiday memories, and touring neighborhoods with festive lights and decorations.
It might be challenging to consider how your wallet will handle the additional expenses that may come with the Christmas season because inflation is driving up rates for everything from groceries to clothing and other necessities. And economic data would indicate that many of our wallets have indeed been tightened. Make sure you are prepared for the future! Invest a portion of your savings now to build and protect your hard-earned money.
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