Celebrations are meant to be celebrated. However, they have a tendency to pass as quickly. How to plan your finances so that after celebrations you would feel as good and stable as before them? Swedbank Institute of Private Finances has come up with tips on how to afford to properly celebrate while escaping financial hangover afterwards. These will come in handy for Christmas as well as for any other celebrations.
- Make a list
Well thought-out presents require making of a list of recipients. It is advisable to decide on specific things you want to give to each recipient before you go on a shopping spree.
- Set the budget
The list of presents is a part of celebrations budget that helps to get an idea of the planned costs in due time. However, the budget also includes such items as the festive meal and transportation in case you plan to visit your loved-ones. Likewise, note should be taken of beauty services and evening gowns if you plan to attend formal events. Such budget makes sense only if you set the ceilings for celebrations-related expenses and strictly observe it.
- The sooner the better
Purchase presents and other necessary items in due time, thus avoiding impulse-shopping and excessive spending. Last-minute shopping not only causes stress but also increases the risk of overspending.
- Experience above things
Research show that the initial thrill about a purchased item fades away much faster than excitement about an event or experience. Memories of a pleasant experience ensure a long-term happiness and sweet recollections. Keep this in mind when purchasing presents, and consider substituting things with events you may enjoy together.
- Spend on others, not yourself
Human being is a social creature; therefore our well-being depends on our relations with others. Sharing joy, giving presents and donating for charity – these are the cornerstones of our happiness, the source of positive emotions, appreciation and higher self-esteem. This means that though-out presents not only bring joy to the recipients but also make us happier ourselves.
- Buy small things that carry large significance
Since people tend to adopt to new situations quite quickly, the joy of getting a single large item fades away as quickly as in case of a small present. Therefore, mathematically, you can bring more joy to yourself and others by making smaller purchases that are distributed more densely over a longer period of time. The same applies to the presents – by carefully planning your budget you may purchase smaller presents to more people, thus bringing more joy to yourself and your loved-ones. Careful planning of budget will enable you to afford presents not just on Christmas but also throughout the year.
- Enjoy the anticipation
Have you heard that the joy of anticipation itself may even exceed the thing or event you anticipate? Those blessed with children have probably noticed that for children it is the anticipation of Christmas that brings most excitement, not the presents themselves. Therefore, don’t forget ot cultivate the dreams and fantasies before Christmas, talk about your plans and the things that will bring joy and happiness to your family.
