Monday, 26 December 2022 02:19

Financial education tips to save during the Christmas season

Written by Evelyn Alas

The holiday season has been characterized for generations as a time of friendship, humility and affection for those around us. However, all the necessary preparations in terms of decorations, food and gifts, can generate a strong impact on the financial state of the households of families around the world.

For this reason, taking into consideration the rate of spending has become one of the financial priorities of many families, who, despite not being aware of how to achieve it, constantly consider the best way to be able to save a little more in this important month of the year.

Here are some smart (and easy) ways to reduce "ant" or unnecessary spending during the holidays:

1. Keep your gift list small

Many of the gifts exchanged between adults at Christmas are not done out of genuine interest in giving or receiving a gift, but out of responsibility or social pressure. If none of the adults in your household want gifts, simply propose that the money be spent on something else.

2. Don't think about prices, think about meanings

Christmas gifts have often become a competition of what costs more, when in reality the person is looking for something that has a special meaning. Choosing this second option will make them happier and avoid heavy expenses and unnecessary unforeseen expenses.

3. Prepare healthy food to your own taste

It is no accident that, as a result of marketing strategies, sales (and prices) of food products traditionally associated with Christmas increase significantly. However, it is not necessary to follow the "norm" or the "traditional" when preparing a delicious Christmas menu and enjoy it with your loved ones. Compare prices and weigh what type of food products best fit your budget.

4. Take advantage of the offers, but don't get obsessed with them

Black Friday, Black Weekend, Cyber Monday, New Year's Sale. All these offers, and many more that have not been mentioned in this space, can represent an excellent opportunity to save before, during and after Christmas. However, before buying compulsively, make a list of products or gifts segmented by priority and budget. This way, you will have a clearer idea of what you really need to buy and if you are strategically, and efficiently managing your budget.


Translated by: A.M