In this article, we are going to share 10 financial tips to navigate this festive season. In the early anticipated festival season has become crucial to emphasize the significance of practising mindful spending habits. Today, we are going to explore the risks of overspending, and gift taxation, and also going to explore the effective strategies to manage your savings in the festive period. The issue in income starts when you start purchasing unnecessary products and mostly when you purchase something with borrowed funds. Now read this article till the end to learn 10 financial tips to navigate the festive season as it is very important right now.
This is the time of festive season. In October, November, and December there are many festivals in which every single person is going to spend a lot of money. So in this article, you are going to see 10 important financial tips to look at in this festive season. As we all know the festive time of the year is the best time for everyone in India. The festivals include Navratri, Dussehra, Deepawali, Christmas Day, and New Year. At this time every single person just spends, spends, and spends. It is unanimous that the Indian people might go overboard and spend far beyond their financial prudence. Continue reading.
Some tips to navigate in this festive season are that first, you should always take a look at the offers on offer, If there is any offer available purchase it. Always take for instance, like when you shopping for the festival from some online platforms that are present right now. Always set clear spending limits for yourself. Do not spend on those things which are not necessary for you. Make a card payment so that you can pay back the amount in the next month.
Always check the Fine Print, some offers come with terms and conditions like it is with minimum purchase requirements, specific payment methods, and expiration dates. You should choose to spend the bonus to retire a high-interest loan which is a great prudent option. Investigation can be very helpful in finalizing your decision. If you are going to give a gift to your employee in this festival season the gift is taxable for the employee. It is like a performance bonus which is taxable and gifts on any occasion are also taxable. But if you are planning to give a gift to children it is not taxable at all.