Determining a comfortable amount for spending on gifts is an important component of effective financial planning, especially during holiday periods, Olga Matveeva, a financial consultant for the Package service from X5, said in an interview with RT.
“To maintain a balance between pleasant purchases and obligatory everyday expenses, it is necessary to set a clear limit on holiday spending in advance. This approach will avoid using funds intended for basic needs, such as paying for housing, utilities or buying food,” she explained.
According to the expert, budget formation requires a careful analysis of the current financial situation.
“Start by estimating your total income for the period and taking into account your regular expenses, including monthly required payments. After determining the remaining amount that is safe for additional spending, allocate a fixed share that will be used exclusively for purchasing gifts and other holiday needs,” the specialist advised.
You also need to make a list of people to whom you plan to give gifts and distribute the amount set in the budget among them.
“This approach will help you understand where you can focus on more meaningful gifts, and where you can get by with pleasant gifts. Prioritizing recipients will allow you to determine how much you are willing to spend on gifts for loved ones, friends and colleagues,” Matveeva noted.
She also recommended combining inexpensive gifts with something you make yourself and put your heart into.
“For example, buy a cute mug and pair it with homemade cookies. You can also add a personalized element, such as writing a wish on a card or attaching a small note with kind words. Another option is to create a set of several inexpensive but useful things. For example, combine tea, a candle and a useful book,” said the financial consultant.
Agreeing on a gift budget in advance is a smart and practical approach that helps avoid many complications, says the expert.
“First of all, this allows you to optimize costs: when everyone involved knows the allowable amount, no one feels pressure to spend more than you planned. In addition, such an arrangement helps to avoid awkward situations when one person gives something expensive and the other gives something more modest. This eliminates awkwardness and makes the process enjoyable for everyone,” explained RT’s interlocutor.
She also says you should avoid making purchases at the last minute so as not to face unjustified additional costs.
“This approach will expand the choice of offers, and will also allow us to avoid shortages of goods, which often arise during the pre-holiday period,” Matveeva noted.
Early planning also opens up the possibility of ordering goods from online retailers, where delivery times can be longer, especially during peak periods, the analyst added.
“This not only allows you to save money by choosing the supplier with the best price, but also avoids unnecessary urgency that can lead to premium purchases or additional express shipping costs. By following these tips, you will be able to properly distribute your finances, please your loved ones and maintain a balance between the desire to give joy and concern for your wallet,” the expert concluded.
Previously, the “Repair with SberServices” service and analysts from the Rambler&Co media holding conducted a study and found out how often Russians decorate their apartments and give gifts for the New Year.
Source: russian.rt.com
