By Crisyl Ursabia
Chalk Campus Correspondent
We're nearing the end of 2017 and this only means one thing—the most wonderful time of the year is coming! And while we’re all excited about it, we should also start planning our budget for Christmas and New Year. To help you start, here are ways you can save money for your holiday shopping:
1. Record your expenses. From now on, record your expenses and at the end of each week, organize it and see where your money mostly go. Whether it’s on food, gas, or supplies, try to gradually tone down on spending for it. You can try cheaper and more affordable choices especially on food. Having an expense record can also help you track if you’re already overspending.
2. Set a budget. Your budget for Christmas shopping should measure up to your allowance or income. Try to save 10% of your weekly income and put it in a piggy bank or somewhere you’ll never be able to spend it until you’re ready for Christmas shopping.
3. Buy only what you need. To save money, cut out on buying what you want and just focus on buying the things you need. When going to the grocery, have a list of what you should buy and buy just that. Don’t make impulse purchases and don’t go to the grocery when you’re hungry.
4. Avoid coffee shops. Coffee shops are often times our go-to place but for now, tone down on buying coffee because it’s too expensive. If you want some place to study or a quiet place to work, you can maybe go to the library or work at home instead of staying in coffee shops. Make yourself coffee, save all the money, and you’ll never notice how much you already earned.
5. Limit eating out. For the sake of saving for Christmas shopping, say goodbye to posh Friday night hangouts for now. Don’t eat out everyday at a fancy restaurant. Have packed lunch and eat dinner at home. It’s healthier and you can save more money!
6. Walk or commute
When the place you're headed to is just walking distance from where you are, walk instead of paying for a ride. Cut out Uber or Grab rides for now and commute since it’s a lot cheaper. You can also avoid traffic by riding the MRT and LRT. It may be a hassle but sacrifice is the key.
7. Don’t cheat. Don’t have a "cheat day" where you’ll spend as much as you can, from transportation to food. Saving money for the holiday season cannot be done inconsistently considering the amount of money you’ll need for it. When you start saving, do it all the way.
Indeed it’s easier to spend money than to earn it, but with both sacrifice and discipline, you will be able to buy gifts for your family and friends, and you will be able to buy all that you want for the holiday season.
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Banner Photography from Andrew Neel on Unsplash, GIFs from Giphy