YEAR-END SHOPPING: LEARN HOW TO PREPARE YOURSELF FINANCIALLY AND AVOID DEBT

Experts say that the best way to prepare for holiday shopping is to plan ahead, researching different offers for the same product.

The last months of the year are accompanied by many parties and expectations for gifts. Now, in the blink of an eye, Christmas is arriving: and with it comes the secret friend, spent on suppers , shopping for clothes, accessories, electronics and so on. It may seem a little early to think about it, but planning ahead is the best way to prepare and avoid debt .

in Kriptia spoke with specialists to better understand how to prepare financially for end-of-year purchases and what the positive impacts are in making good advance planning.

Plan your holiday shopping in advance 

Leaving shopping until the last minute can make many people “wound up” financially or even pay more for certain products, which go up in price during these festive seasons. So, there is no way out: financial planning and price research are the keys to success .

According to specialists heard by iDinheiro, the ideal is to plan for end-of-year purchases from now on , saving money, mapping stores and defining priority among the desired items.

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For the finance professor at Universidade Presbiteriana Mackenzie Maurício Takahashi, planning ahead is the best way to organize yourself to save on purchases, especially in this scenario of crisis and high inflation that Brazil has been experiencing.

“In times of unpredictable inflation, with a real loss of purchasing power, planning continues to be the best way to optimize expenses . Imagine spending without a defined list, without a pre-set limit, without time to research and compare prices, taken by time pressure and with impulses and emotions commanding your brain in the decision process”, analyzes Takahashi.

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planning ahead is the best way to organize yourself to save on purchases, especially in this scenario of crisis and high inflation that Brazil has been experiencing.

“In times of unpredictable inflation, with a real loss of purchasing power, planning continues to be the best way to optimize expenses . Imagine spending without a defined list, without a pre-set limit, without time to research and compare prices, taken by time pressure and with impulses and emotions commanding your brain in the decision process”, analyzes Takahashi.

So, starting to think about these issues now and not putting them off until December, can help with your purchases and avoid indebtedness.

Include other expenses and set a ceiling for spending on end-of-year purchases

Professor and coordinator of postgraduate courses in finance at Fundação Escola de Comércio Álvares Penteado (Fecap) Marcelo Cambria agrees that planning financially is fundamental. He also highlights that the “annual accounts” should be included in this planning , in addition to those referring to the end of the year festivities.

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That’s because it’s not just the festivities that make a New Year. In addition to Christmas and New Year’s Eve, other expenses usually make our budget more salty at that time, such as the payment of IPTU and IPVA. For those who have children, expenses increase even more with enrollment, school material , uniforms and tuition.

In addition, he recommends setting aside a percentage of the budget for contingencies. “It is very important – of course, for those who can – to make a conservative budget for expenses, which exceeds 15% to 20% of the budget for any unforeseen events. So, you shouldn’t plan on making a purchase to empty your pocket , that is, to really spend everything you have left over on your projections”, advises Cambria.

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HEADS UP

So, in order not to get involved in expenses, calculate how much will be left of your budget, after paying the debts and common expenses. Once this calculation is made, establish a maximum ceiling on the remaining amount to spend on end-of-year purchases and do not exceed the limit.

Set priorities and understand your limits

A time with so much festivities can be a little tricky for those on a tight budget or already in debt. According to experts, the tip, once again, is to always respect your limit .

“Be careful not to go over your spending budget just to please someone and then get stuck financially. Keeping that unpaid bill for months will bother you and can turn into an unnecessary snowball,” advises Cambria.

In addition, Takahashi says that in this planning it is important to define priorities : which friends and family will be given away, how much will you spend on each one and what will you buy. “Buying has to be seen as a process and not an event. Listing who you want to give a gift, how much you can spend and, consequently, what to choose, improves consumption at this time when we need to keep our feet on the ground”, he says.

Taking advantage of Black Friday offers can be a good thing

The Black Friday 2 21 officially takes place in late November, but many stores start their campaigns already in October, with discounts and promotions. According to Cambria, this may be a good time for those who have already made the planning, to take advantage of the offers. However, it is necessary to be careful not to fall into the famous “black fraud”. 

“It’s important that you monitor it in advance so you don’t get dazzled when you see the cut price there. What happens, in fact, is that some stores increase the price of products months before the date and gradually lower them, to generate a greater discount and reach the same price that was already sold before”, highlights the professor.

“As we are still in the month of October, it’s worth doing an advance search on those items you’ve already planned to buy, because there may be a good opportunity, either before or until Black Friday”, he adds.

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Takahashi also highlights the importance of a good price research before closing the purchase. For this, a good strategy is to use price comparisons to find the most interesting Black Friday discounts.

“Those who plan their purchase and know how to use the price monitoring alarms on search platforms will be able to judge whether they are facing real savings. Royal bargains rarely fall into laps. They need to be sought out. This search is considerably facilitated by technology”, says the professor.

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