The holiday shopping season has definitely arrived. Along with the festive spirit comes that feeling of anxiety, born out of the need to strike a balance between satisfying your Christmas lists and sticking to a healthy budget.
As everyone's flush with their 13th month pay and other holiday bonuses, it is all too easy to give in to temptation and indulge. With the allure of sales and promos all around, harmless window shopping can instantly turn into an overwhelming urge to splurge.
Pay yourself first
This is proven to be the easiest and most rewarding financial habit you need to adopt. Instead of spending money immediately, set aside a portion of your income the moment you receive it. And to make the process simpler, you can easily transfer funds electronically from your payroll straight to your separate savings account through your banks’ mobile-app. Now that’s a savvy way to save!
Ready your list and set a budget
With a little planning and cash management, you can stretch your hard-earned peso and still meet your savings and expense goals. It helps to prepare a list of the people you plan to give presents to and have a set budget for each of them. Various apps such as “Mint” and “Wally” help you easily track your finances on the go.
Find the best online deals and rewards
Avoid the holiday traffic rush and take advantage of coupon codes, eVouchers, and live discounts which are all up for grabs online. E-commerce stores also offer great sales during the holiday season.
Borrow responsibly, if you must
If you absolutely need a little extra cash to help you through a month when your expenses are slightly higher than expected, mobile-apps such as Cashalo are a convenient and affordable solution - offering purpose-based financing with the lowest non-bank interest rates. Cashalo’s newest solution, Cashacart also makes it easy for you to buy the items you want by providing access to a digital credit line at 0% installment rates from a network of over 250 partner retail stores.
Smartphones can be really helpful tools for developing responsible spending habits, and powerful apps such as Cashalo empower you with more options to be financially prudent. Not only does it encourage you to use your money wisely, it also improves your financial well being by helping build a robust financial identity and positive credit score. Being a responsible consumer and making timely payments, unlocks even more financing options providing greater flexibility.
Cashalo, alongside other financial apps, are a welcome addition to the digital revolution that is helping enhance our lifestyles even more. And as with all things these days, it pays to be smart about it.