How to align financial plans with festive seasons

Come festive season and we Indians do not know how to hold back. The shopping, the food, the travel and buying gifts all converge on in this period and every now and then we feel that little financial pinch?

Since at Zeta, we have made it our mission to help you save money in every way possible, we thought we’d offer you quick tips on how to plan your savings for the festivities.

Set aside some money from weekly expenditures: Closer to the festive season, try to keep away little money on a weekly basis so that near to the actual festivals you have a kitty to dip into. You can arrive at a ballpark figure of 10%-15% of your weekly expenditure as this amount. The idea is to keep this target achievable, without compromising too much on your daily life.

Have a budget allotted for every activity: Decide an average budget for every activity you want to indulge in, such as a budget for food, new clothes, decorations, gifts for relatives and so on. This will ensure your are not overspending at any point and even if you do, you are actually keeping a track of it and can adjust it in another area.

Make money out of food expenditures! Festive times mean being on an eating spree. Use your tax-saving meal vouchers to buy the season’s delightful festive food and save taxes as you spend. Have fun and be clever at the same time!

Plan potlucks with friends/family: Festivals are all about gathering together and enjoying as one unit. So, plan a potluck party rather than taking it all on you to arrange for food. Now that, of course, has a charm of its own but could be a bit of a stretch on your pocket. So, here’s an idea, go potluck!

Stick to budget, yet be generous on the gifts: While you may not want go overboard on time, energy and expenditure on gifts, you still want to see that smile on people’s faces as they get your gifts. Cash gifting via quick app-based transfers are a great way to ensure you stick to your budget for everyone while saving yourself the nerve-wrecking and effort-heavy search for gifts for everyone.

Sounds like a plan? Let’s help you save money, effort and time and sail through festivities without being broke.

Also, do remember to share with us your plans for saving well during festive seasons.