Whether it is Christmas, new year, or any other holiday, we are often overspending on things excessively. How does that happen regularly and annually?
Despite having thorough financial planning, overspending during holiday still firmly exists as a nightmare. Perhaps, it might sound inevitable, but it actually is not.
Maybe we focus too much on the bigger pictures and we tend to skip the small details. In reality, these small details are as influential as the bigger ones.
Actually, there are many small things we need to consider spending our expenses during the holiday. This article, however, will disclose three arguably most overlooked small factors.
Also Read: Money Saving Tips for Upcoming 2020
Reliance on Credit Cards
Credit cards might be a savior in times that we need to make quick or unexpected purchases, donations, or subscription services. However, credit cards might also lead to a catastrophe during the holiday.
Putting nearly all holiday expenses on credit cards is arguably unwise. Also, it is worth noting that people tend to spend more using credit cards than debit or cash. Furthermore, abusing credit cards might lead to the unnecessary financial burden for a longer period of time.
If possible, do not use credit cards at all costs during the holiday unless necessary. Consider this your limit to abuse your own financial life in the future.
Collective Beliefs
It is stereotypical that during the holiday we must buy this and that to the point that we do not even yet question ourselves whether we need it or not. The reason being is simply because everyone else is doing it.
We often fall into a dangerous belief that our friends will not have money for hangout after the holiday or, since it does not happen every day, YOLO. It is rather unwise for life still goes on after the holiday season ends.
It is not wrong to spend money during the holiday with the money you earn with tears and blood. However, do not forget the essence of the holiday itself because meaning matters more than such consumerist behaviors.
Holiday Guilt
It is easy to notice that, almost in every corner of the streets, there are charities encouraging you to donate. More importantly, their number intensifies during the holiday.
Do not get me wrong. Making donations is an invaluable thing to do. However, the problem begins when we feel guilty for not donating to more charity institutions.
As a solution, list where you want to donate as well as the expenses. What counts is not the quantity, but the quality and willingness to share for the unfortunates.
Also Read: New Year’s Resolution: Be Your Own King
