Christmas and the New year brings with it shopping, gifts, great food, travel plans, parties and so much more. With all the year-end discounts during this festive season, it’s a bargain lovers dream and one can shop up a storm  at significantly better prices. This is the time when people start buying things for their Christmas and New Year’s Eve preparation.

To make sure you do not overspend for the upcoming festive season, here are some tips on planning and managing your funds to last you across the season.

List down all your personal income

Before creating your shopping list, you should list down all of your monthly personal income sources, including your primary monthly personal income (salary, business profit, etc.) and additional incomes. Doing this will help you know the pool of money you have to work with that month and how to break down your spending reasonably.

Break down your expenses

Once you have the amount of money you can use within that month, break it down into smaller amounts. Prioritize amounts of money used for fixed spendings such as rent, utility bills like electricity, water, internet, etc. and then your other amounts for daily spending like food, shopping, entertainment, travel etc. Get yourself into a habit of only using a certain amount of money for personal expenses every month to avoid overspending.

Make a Christmas and New Year’s Eve list

Temptation will be lurking at every retail store both online or offline with special promotions so exercising restraint will be hard. This kind of temptation will easily lead you into spending more than you can afford.

Shop during promotion periods

Year end is a perfect time to shop, as many shopping centers and e-commerce websites offer special deals to attract customers. Before the start of every special promotion, customers receive an announcement from the merchants that they frequently shop at. To cut down your shopping expenses for Christmas and New Year’s Eve, look out for these special offers’ being announced to time your shopping around them.

Shop in the morning

This might seem like a strange tip, but did you know that the morning is usually the time when your mind is in the most conscious state? Hence, going shopping in the morning will help you make more reasonable decisions about what to buy. The morning is the best time to determine if the item you want to buy is really necessary.

giảm giá cuối năm

Shop online

Vietnam now has a lot of well-known e-commerce websites like Shopee, Lazada, Sendo, Tiki, etc that are trusted and used by a large number of people. One of the reasons why these e-commerce websites are preferred is because of the convenience it offers for customers to get anything they want in just a few clicks without having to go anywhere. To attract customers, these e-commerce websites also offer many special promotions and discounts. Hence, shopping online can help you cut down your spending for Christmas and New Year’s Eve.

Avoid paying in cash and use your credit card instead

Many people have a habit of carrying a lot of cash with them to shop. This can easily lead you into situations where you end up buying more than you need without control and exceed the allocated budget.

To control your spending, you should shop with a credit card in order to quickly check your remaining credit limit after every transaction.

mua sắm cuối năm

Manage your transaction list carefully

When shopping with a credit card, you will not have to try to remember all of your spending since all transactions will be recorded and sent to you. Hence, keeping an eye on your transaction list also means that you are managing your spendings.

  • JOIN A DIGITAL BANKING EXPERIENCE

    100% transparent about fees

    Fast fund transfer across 40+ banks with your Timo NAPAS Debit Card

    Smarter and convenient banking; Annual fee-free & Free withdrawals at 17,000+ ATMs