With Diwali round the corner, everyone seems to be in a mood to splurge. However, you can also consider cost-effective alternatives to all that you want to do.
Diwali is round the corner and the festive mood has already set in. From shopping for gifts to decorating the house, everyone’s on one’s toes with excitement. And what often goes unnoticed until the celebrations are all over is the expense incurred in the process. Now while you don’t want to miss out on all the fun, why don’t you consider cost-effective alternatives to all that you want to do? Here are a few things to keep in mind.
1. Gift home-made items
Instead of buying expensive gifts for your friends and family, opt for personalised items such as home-made sweets, baked cookies/cake, paintings or craftwork. These gifts are not just cost effective, but are also ways to tell your near and dear ones that you put in thoughts in gifting them. You can also get along with another family member or friend to give away combined gifts.
2. Shop online to take advantage of discounts and festive offers
Due to increased competition in the online ecosystem, stores offer attractive deals and discounts during festivals. There are festive special sales, wherein you can buy products at significantly low prices, using no-cost EMIs for specific purchases. Make use of promo codes and coupons to save further. If you pay through credit cards and e-wallets, you also stand chances of earning reward points and cashbacks on purchases.
3. Travel on the day of the festival to avoid high price on tickets
If you haven’t booked your tickets well in advance and are planning to travel last minute, travel on the day of the festival to avoid high prices. This is because people usually travel immediately before or after the day of the festival, thus spiking ticket prices.
4. Light diyas and avoid electric lights
Diwali is a festival of lights and lighting up the house is part of the custom. Do light up your house and decorate it, but opt for diyas instead of imported lights. They are inexpensive and re-usable. Plus, they are traditional in essence and closer to your roots.
5. Make a festive budget to avoid overspending
Last but not the least, create a festival budget and stick to it. List out all the heads and allocate money for each of the items in terms of the priority they should get. This will help you avoid overspending. You don’t want a bad after taste once the festivals are over. Adopt these hacks and have a fun-filled Diwali without denting your finances.
(The writer is CEO, BankBazaar.com)