6 money resolutions to follow this November and how to accomplish them

livemint.com:

celebrate Dhanteras on November 10 and Diwali on November 12 this year, many people are also planning how to revamp their money-making styles or adopt new and innovative ways to earn money. Making money mistakes is a common occurrence for individuals, including financial experts, especially when celebrating festivals. Below, we’ll highlight some of the prevalent financial blunders people tend to commit during festive occasions.

These include: Excessive spending: Festivals provide an opportunity for merriment and extravagance, but it’s crucial to exercise prudence in your expenditures. The allure of overspending on gifts, culinary delights, beverages, and various outlays is ever-present. Establishing a budget and adhering to it is paramount.

Overlooking savings: Maintaining your savings discipline is essential, even amidst the festive season. Endeavour to allocate a portion of your income each month, no matter how modest, towards your financial objectives. Excessive credit card usage: The allure of relying on credit cards to manage festival costs can be strong, but exercising caution is imperative.

Credit cards can lead to overspending, potentially resulting in substantial interest payments if you fail to settle your balance entirely each month. Missing out on bargains: Numerous companies provide discounts and special offers during festivals, presenting a great opportunity to acquire desired or necessary items. However, it’s essential to conduct price comparisons before making a purchase.

Indulging in impulsive buying: Festivals often create a whirlwind of excitement, making it effortless to succumb to impulsive purchases. Strive to exercise patience and deliberate thought before making any acquisitions. The fact that one