As Christmas and new year holiday season is lined up with a lot of interesting activities. While these activities are fun to engage in, they do not come cheap. But you do not necessarily have to eat through your bank account just to get the most out of the season.

After all, come the new year, a number of commitments will be needing your undivided attention and being penniless will do you no good.

As tough as maintaining a tight budget this season seems, with the right planning, an intentional approach to spending, you’ll be the master of budget-play in no time.

Plan a budget
Break down every single expense you’ll be making during the holiday without missing a bit. Take time to think of every single item to purchase, places to visit, activities to indulge and basically anything which will cost you money.

Summarize each expenditure according to categories such as; food, travel, and events. Allocate an average amount to each category — which must not exceed no matter what.

Additionally, track all your expenses by writing down every single purchase you make every day. Do not miss even the least detail. By tracking your expenses, you render yourself accountable and therefore, less likely to overspend.

Shop all essentials before the holiday peak
This point cannot be overemphasized. Almost all businesses take advantage of the holiday season by spiking their prices and rates.

If you do not wish to pay double or triple the original amount for a product or service, then take care to shop every essential week before Christmas or New Year.

For bookings, making reservations way ahead of time will be beneficial to your bank account; if you know, you know.

Gift creatively
Gifting a loved-one the most expensive item doesn’t increase their love for you. When gifting, the most important rule is accessing the needs of the receiving party.

What would make them happy?

After evaluating this proceeding step, think up more creative ways to gift affordable yet items of top quality. Look out for brands or businesses offering unique gifting services or products like MiniSo and patronize them.

Say “no” more often
This means, “no” to unprofitable investments, “no” to lending, “no” to activities that will potentially suck money out of your pockets, and “no” to every single invitation requiring your presence.

As hurtful as some people might feel by your “np’s”, remember your bank account will thank you later.

Focus on your New Year goals
If you tend to overspend during the holidays, try this trick. Write down the goals you want to achieve by the new year. Beside them, write down how much each cost on average.

Every day, look through this list you have made. Whenever those invitations that require your saying “no” to pop up, inform your decision by looking at your Goal List. Most likely, focusing on your future, more substantial goals will help curb overspending during the holiday season.

If this trick doesn’t work, go hard on yourself. Lockdown your goal budget and excess cash or savings on platforms like CowryWise or PiggyVest, where you do not have access to locked-up funds.