How To Be Smart With Your Money During The Festive Season

How To Be Smart With Your Money During The Festive Season
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Who doesn't love the excitement of festive holidays?

Whether it's Chinese New Year, Hari Raya, Deepavali, or Christmas, there's always something magical about these special occasions. From festive decorations to delicious food and cherished traditions, these celebrations bring people together in the spirit of happiness and togetherness.

Planning large-scale open houses and indulging in festive season sales can test your self-control and tempt you to overspend. While it's understandable to want to splurge, it's crucial to avoid excessive purchases that could strain your finances.

To those who tend to favour their indulgent side because you don’t think you can do the whole wise spending thing, my motivational message to you is: you can duit! (Get it?) We know it isn’t easy to resist temptation, so we've put some better ways to help you manage your spending leading up to the festive season.  

To discuss about needs vs wants

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Come festive seasons, happy moments tend to be a time when people upgrade certain areas of their lives, whether it’s a brand-new car, outfit or furniture, the excitement can sometimes lead to impulsive purchases. But pause for a minute! Before you dive headfirst into the shopping frenzy, ask yourself: “Do I really need this, or am I simply succumbing to societal pressures?” 

By being mindful of your true needs and making smart choices, you can enjoy the festivities without breaking the bank. 

Start saving ahead of time

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Consider opening a dedicated account solely for special occasions. Instead of tapping into your primary savings, split your monthly savings into two categories: personal savings and festive spending.

By adhering to your allocated amount, you can stay within your budget and prevent overspending. Automate your savings to effortlessly nurture your dedicated account. This way, you'll hardly notice the money being set aside, allowing you to gradually accumulate funds for those festive occasions without disrupting your daily finances. Remember, the earlier you start, the more you'll have to enjoy during those joyful celebrations.

Plus, it adds a sense of excitement and anticipation as you witness your festive fund grow, ready to be used for those cherished moments with loved ones.

Travel smart

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Travelling to one’s hometown to be reunited with the extended family for celebrations can be costly, and is especially true for families with children. As the festive season often coincides with a long holiday, it is also peak time for holidaymakers, which often causes travel fares to increase.

Early planning helps here. Finalise your travel plans ahead of time for better savings, or carpool if you know someone headed the same way. There are plenty of sites that offer cheaper travel packages or that can help you make price comparisons – be sure to utilise every available resource. 

Rewear, recycle, mix and match & get creative

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Festive seasons are all about the decorations! But you don't have to go overboard with extra lights and ornaments every year. Instead, why not recycle and reuse the decorations you already have?

Dig into your collection of decorations from last year and give them a fresh look by rearranging them or adding some DIY touches. You'll be surprised at how a little creativity can breathe new life into your existing decorations.

Additionally, you can also revive past year's clothes, mix and match, with accessories or a new style that you’ve never tried before – giving it a whole new look! Pair a top from last year with a different bottom or layer it with a trendy accessory. Mix colours, patterns, and textures to create a personalised and eye-catching look. 

Not only will reusing your decorations and outfits save you money, but it's also an eco-friendly choice. By reducing unnecessary purchases, you contribute to a more sustainable festive season.

Make your own festive food

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Cooking your own food and making homemade treats can be a cost-effective way to enjoy the festive season. Often, store-bought treats come with higher price tags due to the rising cost of ingredients. By preparing your own meals and snacks, you have more control over the costs and can save money by purchasing ingredients at lower prices before the festive season arrives.

Not only that, involving your loved ones in the cooking process can turn it into a fun and memorable family activity, strengthening your bonds while creating delicious dishes together. So, roll up your sleeves, gather your ingredients, and let the festivities begin! 


Although the festive season is a special time, it’s not necessarily celebrated by shopping lavishly. If the practice of shopping lavishly becomes the norm, this will have a negative impact on future generations.

We know it's not easy, especially during the festive season when everything seems irresistible, particularly when it comes to shopping. However, it’s important not to prioritise your wants over needs. Let’s appreciate the true essence of the festive season, which is to foster stronger bonds among family, neighbours, friends and the community, while also keeping our finances in check.

Oh, with Raya just around the corner, we wanted to take a moment to wish you a joyous Selamat Hari Raya!