As Diwali, the festival of lights comes up on the calendar, certain Indian communities are already preparing to celebrate with huge fanfare. It’s a very special occasion and a time for feasting and family, with homes festooned in lights and fireworks dazzling in the sky. But as everyone heads to the shops to buy brand new clothes, and offices and homes are given makeovers, it’s also important to keep track of spending. Cutting loose with abandon can upset your entire annual budget. So here are Xpress Money’s top tips to celebrate Diwali in style while also staying smart and thrifty:
Make a list
Impulse shopping always winds up being expensive. Systematic lists are the way to go – so that you can plan presents for loved ones well in advance. Not only will you cut back on unnecessary spending, but a neat checklist will also ensure that no one is missed out.
Hit the sales
Diwali comes soon after the summer sales end. Why not stock up the gift cupboard in advance during those sales so you can give beautiful gifts while enjoying the glow of discounts? Sales are always on and starting early can net some great bargains.
Have a budget
It sounds simple, but it’s the most powerful way of keeping spending in check. Have a Diwali budget, and work to that to keep your finances under control.
Make decorations at home:
Homemade decorations not only work out cheaper, but are a great way of getting the entire family involved. Get the younger members of the family excited about crafting and decorating, and the house will soon be bursting with light, life and pretty patterns – all without spending too much.
Get other families involved
Diwali is all about celebrating together. Even better, collaboration can mean cost savings. If you’re part of a community celebrating Diwali, it might be worth it to organize a collective trip to an outlet mall to buy decorations in bulk. Not only might you be able to haggle a better price when bulk buying, but collective shopping tends to do away with impulse purchases.
Head online
If you’re ahead of schedule, and haven’t left Diwali shopping to the very last minute, online stores usually have great clearance sales. Diwali comes around in the autumn months – which means there’s a good chance of snapping up online bargains from last quarter.
Store and reuse
For statement items such as lights and decorations, there’s really no need to start afresh every year. It makes more economic sense to invest in long-lasting items that look perfect year after year. Tuck away and store safely when done so you can reuse for the next festive occasion. Simple, convenient and thrifty.
Use these tips to have a joyful yet economical festival that won’t burn a hole in your pocket. Wish you all a happy and safe Diwali!
