[Ask TBM] How to Keep Your Spending in Check During the Christmas Season
The holidays are a time for Christmas shopping, but when left unchecked, can deplete finances quickly. Finance guru Chinkee Tan shares how to be careful with your spending.
What are the areas of my finances that I have to watch out for or take care of during the Christmas season?
Christmas is a season of giving and spending. As Filipinos, we start to celebrate Christmas as early as the -ber months came in. And isn't it true that we spend more time giving gifts than receiving them? The joy of giving and getting gifts, however, should not be overshadowed by the financial pitfalls associated with it.
[With that], it’s a good idea to keep yourself from overspending and to budget your expenses. Here's how:
Keep track of your expenses
It is important to know how much money you are spending so that you can make sure that the amount doesn’t exceed your limits. This will help you budget your expenses [in order to] avoid overspending. You can use a notebook or a spreadsheet [to make it] easier for you to visualize. If you have a spending app in place, [that's better].
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