Financial Blog

“You better watch out. You better not cry…” says the Christmas song that we know all too well.

It’s a cryptic preview, a warning if you may, of the horrors brought about by holiday overspending. That’s right; it’s that time of the year again when spending an absurd amount of money becomes acceptable, encouraged even in a world where online shopping is the norm. Today, you can now get your favored items with just one click, and within a matter of days.

It’s as if the stars aligned to help you overspend: the much-awaited 13th month pay, the holiday 12.12 sales, the culture of gift-giving. All of it can be quite overwhelming. The worst part is, it’s actually easier just to give in to the spending bonanza than to put up a resistance.

Read more: What Should I Do With My 13th Month Pay?

We are here to change that.

It’s important to ask ourselves: Can we really enjoy (and survive) the holidays without breaking the bank? Of course, we can! Here are five easy ways to make sure that you can come out of the holidays in top financial shape:

Do yourself a favor by preparing a checklist of the things you NEED to spend on, and–more importantly–what not to spend on. Treat your checklist as doctrine, follow it until your hands start to shake, and when it starts shaking, make sure to keep your credit cards as far away from you as possible. Kidding!

You shouldn’t live like a monk (not that there’s anything wrong with that). It only means that you should make your checklist comprehensive. Take into account obligatory gifts for your co-workers and nagging friends, your annual dole outs to inaanaks and pinsans, and a buffer just in case. When you’re done listing everything, start to plan your budget with each item in mind.

At the very least, keeping a checklist and a budget can help you track expenses, saving you the trouble of wondering where in the world your savings went. At best, it can save you a lot, which—considering it’s the holidays—is an achievement on its own.

When it comes to saving, no wiser words have ever been spoken. Holiday shopping need not be stressful, but you do need to be prepared because cramming is a recipe for disaster.

At minimum, you should dedicate one full weekend to finish your shopping. Start by learning the layout of the malls you plan to visit and map out a clear path. This way, you’ll save time asking the kuya guards for directions, and will—hopefully–help you avoid getting sidetracked by a pair of jeans you didn’t plan to buy.

To further increase your shopping efficiency, make sure that you have your credit cards ready. By using a credit card for your shopping spree, you can easily monitor your spending while saving you the hassle of lining up for an ATM when you run out of cash. And trust me, those lines can get very long this time of year. Here’s an overview of Security Bank’s credit cards to help you decide which one to get.

Worried about paying off those credit card bills? While you wouldn’t really encounter this problem if you stick to your checklist, it’s always good to operate with some room for error. With a Security Bank Credit Card, you can convert your transactions to ChargeLight and enjoy lighter installment plans.

If you’re really worried about incurring debt, you can take advantage of balance transfer services to consolidate all your credit card balances into just one account. It’s a great way of saving money because you can transfer balances from ANY credit card in the Philippines including a BDO credit card, BPI credit card, Citibank credit card, and Metrobank credit card. You can click here to learn more about it.

Sales and the holidays are like fried chicken and ketchup, that is, having one without the other is much less satisfying than having them both. What I’m trying to say is, there’s no shortage of sales during the holidays. You can get really good deals if you’re buying in bulk and great ones if you’re in the market for flight tickets, gadgets, cars, apparel, etc.

If you already have a credit card, make sure to check their website for the latest deals and discounts. Some of these discounts may seem small but they do add up, and by the end of December, you would’ve saved enough to get you through the first paycheck of January.

Interested in getting the best deals for your purchases? Click here to check out Security Bank’s latest promos.

When all else fails, this is something that you can fall back on, but it still doesn’t give you a license to be cheap. It only means that you should be more creative. Need a romantic gift for your significant other? Try DIYs. Need a gift for you parents? Help them in preparing for Noche Buena, and better yet, help them cook!

Not all gifts should have price tags, and they don’t have to be new either. After all, there’s a certain charm to DIY or ‘secondhand’ items. Think of it this way, it’s as if you’re giving them a part of yourself, which can be sweet, in a way, I guess.