Most employees look forward to receiving their 13th month pay or bonus which is given out before the 24th of December as mandated by labor laws in the Philippines. This incentive serves as a reward for the service given by the employee. But instead of rewarding themselves, people usually allot this incentive for holiday expenses. Sadly, some people still end up with post holiday debts despite of the extra money they have. The only way to avoid this scenario is to manage your budget and make use of well stretched cash for Christmas Season.
The first step in managing your budget for Christmas Season is to make a list of projected expenses for the holidays and your available cash. This will help you analyze and plan your spending activities during the holidays and help avoid unnecessary expenses. List your expenses according to priorities and be prepared to pare it down in case you fall short on your budget. Aside from presents, decors, and Christmas dinner menu, one should also consider incidental expenses like gas money for shopping and social gatherings or added utility costs if you plan to host parties in your home. As your list lengthens, start thinking of ways on how to turn your funds to well stretched cash for Christmas Season.
Once you finish your list, put an estimate cost for every item then add them all up. If you have enough cash to cover the total cost in the list then all you have to do is stick to the list and budget allotment. However, if your available funds can’t cover the projected cost then you’ll have to pare down some items. Finding ways to stretch your budget can help you keep items on your list without overspending or resorting to debt. Discount deals and coupons are great tools for stretching your cash. The money you save on these promos can be used to purchase other items on your list. If you are a member of a rewards program then now may be a good time to cash in or redeem your points. Those who want to save on time, energy, and fuel can do their shopping online. Make sure to shop at trusted online stores only to avoid hassles from poor service.
A few smart shopping tips can help you get a good stretch on your budget for the Christmas Season. This allows you to make the most out of your hard earned incentive and have a truly rewarding holiday. A well stretched cash for Christmas Season is an incentive spent well.
Image credits: Pixabay.com
