Diwali is a time for revelry with family and friends. You want to spruce yourself and your home up and are longing for a break from your monotonous life. The last thing you want to think about during this time is a budget! But you don't want to find yourself debt-ridden once Diwali is over! So how do you strike the perfect balance between being frugal and satisfied? Let's see if we can help you.
Make a Diwali list now!
Lists are a great help during Diwali. Listing out all your possible expenses from new furnishings, clothes, Diwali decorations and crackers, sweets and of course the baksheesh. Yes, everyone from your building watchman, to the postman whom you barely see once in a year, will turn up at your doorstep! Budgeting for all of this in advance, will help you not to over exceed limits.
Buy clothes online
Instead of going to the expensive stores in malls this festive season, check out some cool deals on clothes online. With e-commerce burgeoning in India, e-tailers are competing among themselves to sweeten the deal for the customer. So don't miss out on this opportunity of getting some great deals on clothes and accessories online. Also, if you are using your credit card for such purchases, watch out if you can save some extra money on cashback offers.
Clever makeovers for your home
Before you go the whole hog with the repainting and refurnishing of your home, ask yourself how much of it is really required. Try out innovative solutions such as using wall decals, changing the arrangement of your furniture or changing just the cushion covers and rugs. Not only will you give your home a facelift, you could do it all at a third of the cost you had in mind!
Opt for homemade sweets
Diwali is synonymous with sweets, but with such a lot of food adulteration around, you can never be too sure. So instead of buying big boxes of Mithai for friends and family, try making some sweets at home. The simple delicacies you can whip up at home will not only be far more relished, you can save a substantial amount of money there! The bonus, is of course the praise you will gather from your loved ones!
Home parties
Instead of queuing up in front of expensive restaurants on Diwali night, plan a house party where all your friends or relatives can get together and have fun together. As for the food, do not pressurize the hostess! Suggest a potluck party where all the party guests can bring in their own special dishes and make it a mouthwatering treat for everyone.
By implementing these simple ideas you will not only have saved a lot of money, butensured that you do not find yourself in a pile of credit card debt or have thrown your monthly budget out of gear. Besides, Diwali is all about spending quality time with your loved ones, so as long as you see bright and shining faces around you, it's always a happy Diwali!
(Contributed by Rajiv Raj, director and co-founder at Creditvidya.com)