Diwali is the festival of lights, family and warmth. It is also the festival of expenses, expenses and yes you guessed it – more expenses. Online e-commerce platforms announce their mega-sales and Diwali Dhamaka offers long before the festival begins. Office gossip quickly turns to which phone or tablet has the best offer. Getting through the festival without burning a hole in your wallet needs careful planning, patience and a few handy tips. In this blog, we help you with the last ingredient:-
Use your credit card
Diwali means a lot of expenditure, so you might as well make each rupee of spending count. Credit Card companies offer you interest-free periods and a host of rewards per rupee spent, provided you pay your bill on time. You do not get offers on this scale if you pay with debit cards, net banking or cash. You can find out more about how this works here. Some retailers also offer discounts on purchases made through specific credit cards.
Book your tickets early
If you’re flying home for Diwali, ticket prices will be a major item of expenditure. Prices shoot up, as the holiday season approaches and can even double and triple in value.
How to respond: The importance of booking your tickets early cannot be overstated. Doing this can can cut your ticket bill by as much as 50%. Online ticketing platforms offers you a host of offers and discounts. Use them to the hilt.
Shop around while buying gifts
Diwali involves obligatory gift giving. If you’re self-employed or running a small business, gifting is crucial to maintain business relationships. Each gift has to be calibrated to how much each acquaintance can help your bottom line. Even salaried professionals are not immune – relatives, acquaintance and friends expect gifts.
How to respond: Shop around for gift offers. Many people (especially younger ones) prefer vouchers from marketplaces like Amazon or Flipkart to physical gifts, so that they can choose gifts as per their preference. The mega-sales and shopping festivals announced by these portals can help you reduce your gifting costs.
Check the waistline and the wallet
Food of course, is my favourite part of Diwali. Growing up, my house would be filled with with endless packets of Chivda, Chakli and Karanjis during Diwali. These simple traditional foods have now been replaced by more expensive chocolates and/or wine.
How to respond: There isn’t much you can do here other than going easy on the expensive items. Several neighborhood aunties also supply Diwali foods at cut-price rates. Get your festive foods from them.
Make an investment
Diwali is a festival of spending but you can also put aside some money towards making an investment. Diwali is considered auspicious by many folks, especially for buying assets like gold. You can do this by going to a jeweller or more efficiently by going online. You can find out more about buying digital gold online here.
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