Festive season: Four smart money tips to avoid overspending during this holiday shopping rush

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festive season. The first step is to create a budget to establish how much you can spend. “To avoid it, set a practical budget, keeping it within 50% of your monthly income.

This ensures you can enjoy the festivities without straining your finances," said Kumar Saurav, Chief Strategy Officer, AdCounty Media. “Make sure you are aware of the actual amount you must spend this holiday season. Be honest when estimating how much money you'll have left over after your typical monthly expenses and have your bank statements handy," said Tejpal Singh Shekhawat, Founder & CEO, Kalyanam Furniture.

The festive season is often synonymous with extravaganza. You must stick to your pocket to enjoy the festivities. According to Ashish Aggarwal, MD, Acube Ventures, budgeting is the key.

The secret to reconciling your holiday spending with your financial capability is smart money management. Be patient and compare prices to get the best deals. Kumar Saurav suggested utilising comparison websites and apps to make informed choices and avoid overpaying.

Looking at festive discounts from the consumer’s perspective, might seem beneficial at first but there is a hoard of terms and conditions attached that customers often overlook, he added. Experts suggested to prevent impulsive purchases and wasteful spending. “Don’t fall for multiple time-bound offers offer lesser discounts during daytime and higher ones during night time," said Kumar Saurav.

According to an analysis by Ace Turtle, the average discount on days when there are no sales events is 47%, which barely increases to 50% on such days. So, the notion of heavier discounting during the festivities might not be true in all cases, he added. Credit cards, which are readily available and don't