Posted on Friday October 25th, 2019

With closely following Diwali, we can easily call the month of October a festive season. Festivals call for celebration, from indulging in delicious food to donning new clothes. For all the shopaholics, festive seasons are an excuse to go on card swiping spree. Online sale and attractive offers lure buyers to get into festive shopping. Your free spiritedness often leads to an extravaganza. It is alright to allow yourself to enjoy such offers during festivals but you must not go overboard with it. It could lead you to some financial burdens. ShubhBank is here with few smart tips you must follow this Diwali to save your hard-earned money during festive shopping.

• First Plan then Buy: Don’t let the festive shopping get the better of your financial judgment. It’s advised to differentiate between what you need and what you can avoid. So make a list of things you are planning to buy based on your affordability and don’t buy things because of discount offered on them. First plan your finances around your expenses. Compare the available products and discounts on them and look for the best deals that go easy on your pockets.

• Avoid Impulsive Borrowing: Some of us do not save and buy first and pay later, so plan to buy the things with the money you have saved. It is fine to borrow for something that you actually need and have a good repayment capacity. There is no need to secure a loan for an impulsive buy. It is good to figure out the exact amount you need to borrow, prospective EMI you would have to pay and the rate of interest before you delve into it. Compare different lenders and loan options and zero in on with less interest outgo. Ensure yourself that the EMIs are affordable and you have to pay them before due date to avoid any penalty.

• Look out for Great Discounts and Offers: In festive season, online and offline stores offer discounts and amazing deals a lot during these days. Check and go for the things that are discounted and actually have a lower price than other times. You can also compare the prices of products available in the market and get the best suited deal for your purchase.

• Online shopping: Instead of buying something from a store, go for online shopping as it would give you the ease of comparing different products and rates and also offer you different payment methods. The online prices are relatively lower due to competitive pricing than prices available in brick and mortar shop. Most of the online companies in Festive Season offer Attractive Discounts, Great Rewards and Cash Back through their tie ups with financial companies.

It is a high time to indulge yourself in festival call and grab the sale that you were finally waiting for. We also propose you to take these steps to manage your finances during the season and save up in a more systematic way for the upcoming festival. ShubhBank wishes you the most happiest and prosperous time ahead.