Have a happy holiday without breaking the bank

The end of year celebrations are ideal for sharing and the pleasure of giving. Between purchasing gifts and festive decorations, it's very easy to quickly go over budget. 40% of consumers say that current inflation is changing their purchasing habits. Expenses for the month of December are more significant and are added to basic expenses. These seasonal purchasing impulses can unfortunately have repercussions on the annual family budget.

Here are some tips to maintain a festive spirit while keeping control of your budget:

1. Plan your expenses

In order to best manage your end-of-year expenses, it is important to have in mind a budget that should not be exceeded when purchasing gifts. If you borrow money, carefully analyze the consequences on your annual budget and always make sure to respect your deadlines so that this does not incur additional costs.

2. Don't forget your current bills

Even if you have the party and family in mind, don't put aside the rest of your usual expenses (groceries, bills, loans, etc.).

3. Simplify your activities

Don't let stress take over your winter vacation. Think about activities to do as a family at a lower cost (walking, cooking, cinema, etc.). Different activities can remain affordable and fulfilling this holiday season.

4. Be demonstrative and attentive with those close to you

The end of year celebrations are conducive to nostalgia for past moments and especially when loved ones are no longer there. It is not necessary to spend impulsively to fill this gap. The most important thing is to be present and share moments with those you love.

5. Shop smart

Don't be afraid to compare prices from different stores. Sometimes it's worth it. Listen to your own wants and needs, rather than being influenced by the opinions of others. Analyze each cost such as extended warranties which can be expensive compared to the real price of a possible future repair.

6. Shop securely

Always find out about the seller or lender. Are they reliable and legal? Because, although you may benefit from short-term benefits, the long-term repercussions can be financially burdensome.

7. Save up front

Saving before the festive time is a good idea. This economy can be planned throughout the year preceding the end-of-year holidays and allows you to take full advantage of these shared joys.

Planning, budgeting and organizing parties are essential to avoid an over-indebtedness problem at the end of the year. If your expenses become unmanageable, the debt generated will impact your daily life throughout the year.