3 Tips Simple Preparation for Holiday Shopping

3 Simple Tips for Preparing for Holiday Shopping

Firstly, December is coming and with it many expectations regarding the Christmas and New Year movement.

With vaccinations well underway, Brazilian municipalities and states are gradually allowing the return of normal activities. This will, for example, boost holiday shopping.

Initially, it's estimated that 123 million people will go shopping for Christmas 2021, potentially injecting R$1,400,000 into the Brazilian economy. The data comes from a survey by the National Confederation of Shopkeepers (CNDL) and the Credit Protection Service (SPC Brasil).

But be careful: you need to be especially careful when making purchases so as not to unduly compromise your personal and family budget. 

So, to help you, we've put together 3 tips to help you prepare for the end-of-year celebrations. 

#1 Analyze your financial situation

The first thing you need to do is take an honest look at your current financial situation. What's your cash flow like? Record your income and expenses and make an effort to understand how much of your budget is already committed and how much you can invest in holiday shopping. Be honest with yourself, okay?

#2 Cut unnecessary expenses

Are your finances not adding up? This is the reality for most Brazilians these days. To help you improve your situation, a valuable suggestion is to cut unnecessary expenses. Now that you know how much comes in and how much goes out, it's easier to identify where money is leaking. 

Too much food shopping through apps? Try investing in healthy home-cooked meals. Too many streaming services you don't even use? Determine which ones are truly important to you and cancel the rest. Spending more than necessary on your credit card? Avoid impulse buying and start considering whether you really need that product or service. 

#3 Use your 13th salary wisely

Long-awaited by thousands of workers, the 13th-month salary is an important ally for your organization at the end of the year. If you're eligible for this benefit, use it wisely. If you have debts, for example, you can take advantage of it to negotiate them and get better prices. You can also use the money to buy some Christmas gifts. If your bills are up to date, the 13th-month salary can be very useful for building up your emergency fund. 

See? Pretty peaceful, right!?

Now just take these simple tips and put them into practice. Your wallet will thank you!