Mall hours have extended, and every store seems to have a big 50% off sign. Christmas has transformed into this spending spree, often viewed as a dedicated time of the year to shop for gifts to give our loved ones. However, there are times when the pressure that comes with the season of giving is increasing people’s tendency to overspend—a common pitfall to starting the new year with financial burden.
Still, you don’t have to deprive yourself to avoid overspending this season. Instead of a one-time big material purchase, invest in something more productive that will strengthen your healthy financial habits for the next year. To help you keep your wallet full throughout the holidays, here are four ways you can try:
1. Create a holiday budget
While budgeting seems to be a very common practice among Filipinos, many still overlook other costs beyond just planning for gifts and noche buena groceries. It is also important to set limits for decorations, travel, entertainment, and even gifts that are helpful in having realistic expectations. This is the number one way to avoid spontaneous buys that may lead to inaccurate tracking of purchases, improper use of savings, or worse, having none at all.
2. Check the prices and track your total
Just because an item is on sale doesn’t mean it’s already worth buying. It is good practice to consider that heavily discounted items may be part of a seasonal clearance or may occasionally have minor packaging or display imperfections. Always compare the price and quality against similar items, as this pause allows you to make more informed decisions and ensures the purchase aligns with your set budget.
3. Consider non-traditional/hand-made gifts
Sometimes, hand-crafted or non-traditional gifts carry more meaning than expensive, store-bought items. You can either opt for activities, DIYing gifts, or offering valuable gestures like “One Home-Cooked Meal of Your Choice”, or you can also support small local businesses that would genuinely benefit from your purchases. These practices cost little to no money but are surely high in sentimental value, reduce clutter, and are perfect for those who already seem to have every material thing.
4. Set smart financial goals
Beyond spending, Christmas also offers a gift of time and rest, letting you use the holiday to reflect and pivot from seasonal spending to long-term saving. It is important to use this downtime to create a clear financial plan so you can fund future major milestones—be it your next holiday or life investments such as buying a house, setting up a business, or building an emergency fund.
The fun in the season of giving should not come with the pressure and common misconception that equates material gifts with love or worth. It is important to reframe the holidays away from consumerism. By prioritizing sustainable financial habits during this time, you can easily safeguard your budget and proactively manage your money just in time for the new year.
As a financial partner for long-term growth, Tala equips customers with the right tools and knowledge to help them ultimately reach their financial aspirations, all accessible just by using 1 valid government issued ID and their Android phones. With its hassle-free approval with zero collateral, Tala empowers Filipinos to take on their financial decisions, helping them start or expand their business with capital they can use for growth.
Its convenient and flexible online credit also lets users have complete control over their repayment date, as well as the amount they want to borrow within their loan limit. This allows customers to choose when to repay from a period of 15 to 61 days, enabling them to strategically align the schedule with their upcoming cash flow, such as their monthly salary or annual 13th-month bonus.
Tala’s award-winning financial literacy program, TALAkayan, also guides customers in better saving and budgeting to achieve their life goals. This workshop is designed to make personal finance simple, practical, and relatable for the everyday Filipino, teaching basic financial management topics and how to avoid potential risks and scams.
You can check out its digital content with new episodes coming out every Saturday on Tala’s official pages, further expanding its reach and impact from TALAkayan’s successful on-the-ground workshop series. This is part of its commitment to make financial education even more accessible to Filipinos and to bridge the gaps in financial inclusion. Visit Tala’s social media platforms at tala.ph, or get the official Tala app to know more.