Diwali is coming and I am sure you have lots of clothes, gifts, and sweets to buy and the last thing you want to think about during this time is your budget! But you also don’t want to be in debt when Diwali is over. Here are some tips on how you can avoid lighting your wallet on fire this Diwali:
Make a Diwali list:
Lists are of great help during festivals. List out all your possible expenses from new furnishings, clothes, decoration items and crackers, sweets etc. also don’t forget the bonuses you have to give to people. Budgeting for this entire well in advance, will help you not to exceed limits.
Ditch the mall and go online instead:
There are so many online sales on clothes and other items during Diwali. With e-commerce just entering Indian markets each company tries to come up with their own version of Diwali sales. Like recently Paytm came up with a better version of Flipkart’s Big Billion Days. So make the most of these. Diwali is literally like the Black Friday Sales that happen in the U.S. Also remember if you are using your credit cards for purchases, you might get cashback offers and reward points.
Follow a ‘DIY’ approach for your home :
Before you go for the whole repainting and refurnishing your home, check how much of it is it really required. Try out innovative solutions such as using wall decals, changing the arrangement of your furniture or changing just the cushion covers or rugs. Instead of buying expensive paintings, eco-friendly lamps and elegant candles paint the flower-pots, make lamps and candles using usual craft material available at home. Not only will this give your home a facelift, but also be lighter on your pocket.
Opt for sweets without chocolate this Diwali
After G.S.T. chocolate is taxed at 28% while few ingredients like sugar, paneer etc. are taxed at 5%. So a rasgulla will be cheaper than chocolate ladoos. So pick your sweets accordingly.
Advance book the car/gold/TV:
In India, bringing home a new thing during Diwali is considered to be auspicious. And we all head to jewelers, car shops, and electronic showrooms during this time in spite of knowing that the prices are at the highest peak during this season. So why don’t you advance book these things a couple months before when the prices are reasonable and then ask them to deliver the product on the day of the festival.
Same goes with your travel plans:
If you’re planning on going for a holiday during this time check for the tickets and book them well in advance at least 3-4 months before. In this way, you won’t have to pay extra for last minute bookings when the prices would be at the highest.
Now that your ‘Diwali Ready’ you’re good to go!