Contributed by Credit Bureau Singapore
It has finally come to the last quarter of 2022 and with the season of gifting just around the corner, you should be feeling extremely generous! As much as you wish to let your loved ones know how much you care by indulging them with the best gifts, be sure to hold back on any impulse purchases so you do not incur unnecessary debts!
With this joyous and benevolent heart, here are some tips you may want to consider while shopping for the festive season:
1. Prepare a shopping list early
If you have a general idea on how you intend to plan out your Christmas celebrations, factor in all the possible costs you can think of – from party decorations, food and beverages to gifts. You may want to avoid doing any last minute shopping and end up choosing a more costly alternative. Sometimes it can be easy to overlook certain details which might cost you even more dollars than what you originally catered for.
2. Maximize your savings
Subscribe or follow trending deals compilation websites so you will always receive the latest promotions and early bird sales that you do not want to miss. Scout around different options before making a purchase, you may also chance upon bundle saving deals that could save you additional trips to the grocer!
3. Set a realistic budget plan
Set a budget on how much you intend to spend and stick to it. You should structure your budget according to your disposable income, after all you do not want to start your new year with a heavy wallet full of debts!
4. It's the thought that counts
You do not always have to buy extravagant gifts or put up the most lavish parties, it is the sincerity that counts and at the end of the day, you deserve a good celebration without feeling the aftermath of any financial burden! Christmas meals are out of your budget? It is time to show off your culinary skills by preparing a table of home cooked meals or you can even suggest to host a Christmas potluck with your loved ones at the comfort of your own home.
Remember, generosity lies in the heart and not in your wallet! You should not be applying for loans or getting into debts trying to impress others. If you are struggling with your debts now, perhaps it is best to stick with what you can afford now.
Make a habit to check your Credit Score
Take time out to check your Credit Score too. If you have recently applied for a new credit facility with any of our CBS members within 30 calendar days, you can check here to see if you eligible for a free CBS credit report.
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