Festivals are celebrated with great zest in India. Pre festive season is the time when your excitement is at its peak. You’re looking forward to enjoying the festivities with your family and avail some good festive discounts. Once the festival is over, you look at your bank account and that is when you realize that the festival left you high and dry! To add to your woes, there is no shortage of festivals in India. One goes and the other one is waiting to burn a hole in your pocket.

Don’t worry, we’ve got you covered next time! Here’s how you can manage your finance before and after festivals:

Make provisions for festivals in your monthly/weekly budget

We understand it is difficult to get an accurate number with regards to your expenses during festivals but you can make a wild guess as to how much you’ll end up spending. This way you know when your limit is nearing and you can try to cut down on your expenses.

Keep a track of your expenses

You now have a rough idea as to how much you need to spend so the best practice is to track your expenses as and when they occur. This way you can review how much you’ve spent where and it also acts as a base for your future festival budgeting. There are many apps available in the market to track your expenses and analyze your spending patterns.

Always keep some rainy-day funds

Save some money out of every paycheck as your rainy day fund which will be there for you when you need it during emergencies. We cannot emphasis enough on this – IT IS A CARDINAL SIN TO TOUCH YOUR RAINY DAY FUNDS FOR ANYTHING OTHER THAN AN EMERGENCY. Once you set some money aside as your buffer fund, let it stay as a buffer fund, forget that it exists! Do this correctly and you’ll thank us later.

Don’t get stuck in the credit card web

Credit cards, like your rainy day funds, should ideally be used only when you really need to. Don’t go swiping your credit card like a maniac just at the sight of a festive sale! We’ve written a very informative blog about credit card debts and how you can get rid of them. You can find it here.

Know when to apply brakes on your outflows

Once the festivities have ended and you know you’ve surpassed your budget, you should immediately curtail your expenses till the time your paycheck comes in. Those who cannot control their spending when they need are the ones who fall prey to shortage of funds and eventually incur huge debts.

Even after a lot of planning, sometimes there are unavoidable circumstances when you are helpless and cannot figure a way out. For such instances, getting a personal is the most feasible way out. InstaMoney will approve your loan request within 2 hours. If you’re in a cash crunch post this Diwali, don’t think twice! Avail a instant personal loan from InstaMoney now.