Christmas Budget Tips for the Average-Income Earners
Christmas is just around the corner. Malls and other establishments are now prepping up their areas with festive lights and Christmas decors. Streets are starting to be filled with vendors selling everything and anything under the sun. Christmas songs fill the air and homes are also starting to be adorned with colorful lights and lanterns. With just about a month and a half to go before Christmas, people around the world are starting to prepare for this momentous celebration. And, of course, this preparation entails money.
To supplement the surge of expenses this yuletide season, companies are now preparing the budget for 13th month pays and bonuses of employees. Some even allot huge budgets for programs and raffles. For many privately employed individuals like me, I am really anticipating the windfall that I will be getting. However, caution should be taken so as not to be left virtually penniless at the end of the year. Hence, smart budgeting and planning will allow us to surpass this event with merriment and cheers. Among the expenses that you should plan for are the following:
1. Gifts- It is never too late to start making your Christmas list. Start sourcing for the best buys in town. Best buys would mean cheap but good quality merchandise. For those who are willing to exert extra effort, you can go to Divisoria. Divisoria is the shopping hub for those seeking low priced items. You can even purchase items at a lower price if you buy wholesale. I would prefer Divisoria if I am to buy toys for my godchildren, nephews, and nieces. What I do is that I count the children that I a plan to give gifts to this Christmas, categorize them by gender and age group and then I buy toys in bulk to get the wholesale price. For Angeles City residents, you can also opt for dutyfree shops in Clark. You can buy reasonably priced toys without the hassle of transportation and travel expenses. However, there are those special people whom we plan to give a bit expensive items to. Allocate your money well so you would still have some budget left for other expenses such as food, clothes, etc. Remember, you are not Santa Clause (who incidentally, was voted by Forbes as the richest fictional man on Earth, with an infinite net worth) so stick to the old saying ‘It is the thought the counts.’
2. Decors- Personally, I do not think that it is smart to splurge so much on decors, especially, if you have very limited budget. However, this is necessary if you own a company or an establishment. For those who plan to glam up their houses this season, it is better to get high-quality decors that can be stored and used again for the many Christmases to come. Initially, the budget required maybe high but then again, you can breathe better next year. Make sure that they can be stored without getting destroyed. High quality decors do not fade and break over time. Also, be picky when it comes to Christmas lights. We have had instances of fires brought about by faulty lights and all. In my opinion, it is not a requirement for your house to be seen in space… Few but wonderful lights are enough to feel the spirit of Christmas. Also, you would not be crippled much by the electric bill.
3. Clothes- For Filipino families, it is tradition already to shop for new clothes and new shoes every Christmas time. Especially for New Year- wearing new clothes (preferably, with dots or stripes) at the onset of the New Year is said to bring good luck for the coming year. Well, I do not really dwell on good luck. For me, I really set a budget for clothes because I want my kids to feel the uniqueness of this occasion. But then again, I try to minimize this for only one item each. For example one dress and one pair of shoes for each of my daughters. There is a big possibility that they will be given clothes also so better to keep the buying at a minimum. For myself, I usually get a blouse and nothing more. I am more concerned with dressing up my kids than myself.
4. Food- Actually, I do not cook so I cannot give much advice on this area. However, as what my Mama does on occasions like this, she plans the menu for Noche Buena way before hand. Keep in mind the number of people and guests that you will be catering to. Usually, we end up with plenty of left-overs if the menu is not planned well. In my case, we receive goody baskets from the company that contain the essential items such as ingredients for spaghetti, ham, salad, etc. Our Christmas dinner is usually a family thing only. Guests arrive on the day itself and since they arrive on unexpected times, we serve them light snacks and treats. A lot of stores and individual caterers now offer baked goodies such as brownies, cakes, and native delicacies at fairly reasonable prices. In order to save you the hassle of making one yourself, you can just buy these treats from them.
5. Aguinaldo- I do not know how they call it in other countries but for us, it is called aguinaldo. This refers to the money we give out to children who make ‘mano’ to you on this day. The bills handed out are usually crisp and new. Sometimes, we put them inside red envelopes called ‘ampao’. Like what I have been told to do, I allot at most Php3000 for this. You can go to a bank to have your bills exchanged for smaller amounts, say in 20’s. Children really appreciate it especially if you give them say Php100 in 20 peso bills. They have this illusion that it is more than it actually is.
6. Other special purchases- I will be categorizing my Christmas costume here. See in our company, we have this party where we choose best-clad individuals and accord them the ‘Fashionista’ Award. I really exert effort here spending as much as Php3000 for my make-up and wardrobe. This is of course not a smart move… However, if you are inclined to attaining temporary recognition and prestige, then it is worth it. To lessen the guilty feeling, I try to purchase clothing that can be somehow re-used in the future. Trendy but classic in a sense. Other expenses would also have to be our annual visit to my in-laws in Baguio. We have to prepare our travel allowance for this.
So basically, these are some of the Christmas Saving Pointers that I have thought of so far… Will be adding in more details in the coming days… Advance Merry Christmas to all!
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