This is probably the biggest money guzzling part of Diwali. A mad rush to the stores at the last minute is bound to result in huge spends along with buyers remorse. So be smart and start well in advance. Keep an eye out for online sales and make a list of what you’ll buy online and compare the rates with what you’ll get from brick and mortar stores. Make separate lists for retail and wholesale stores. Also, remember to club visits to stores to save fuel.
If you have credit cards then look out for cashback offers to save upto 10% on deals. You can also use a special spreadsheet from Labnol which is a Also use our tips on online shopping in India to make it a safe and enjoyable experience.
2. Home Decoration and Renovation
Diwali is generally a time for home makeovers, with home owners going all out with repainting, refurnishing and re-appliancing (yes, it’s a made-up word!). The big question to ask yourself before spending large amounts is ‘Do I really need it?’ If all you want is a freshening up of your interiors, do it the frugal way with new cushions, plants or a new rug.
Just a few color coordinated accents here and there can completely transform your home. As for decorations, it’s a good idea to make your own or reuse last years’. Check out this our post on DIY and recycle decor for diwali and another post on budget DIY Diwali décor.
Many people look forward to the festive season as a valid excuse to get all dolled up! But festive clothes can be very expensive, and buying new clothes for a family of four or five can cost a pretty penny. And the worst part is, these clothes don’t get worn too much, being reserved for the rare ‘special occasion’. Try to mix and match – buy a beautifully embroidered dupatta or blouse and pair it with a simple salwar suit or saree to get a lovely, elegant look without breaking the bank. Accessorize your clothes to achieve that festive look. Don’t buy anything just because it is diwali, you will end up with clutter.
For a lot of people, Diwali is synonymous with sweets. But having too many sweet goodies around the house just creates temptation to eat more or else they just go to waste. With more and more people becoming health conscious, sweets have become less than the ideal choice for gifting. If you must, make a few simple delicacies (it’s not Masterchef!) at home, using as little ghee and sugar as you can – a fatter purse and slimmer waistline! Also around festivals there are a lot of food adulteration going on in sweets and milk products so try to avoid them as much as possible to avoid medical costs.
For parties, cook food at home – it’ll come to just a fraction of the costs of exorbitant catering companies. Rope in family members to help you out or even better, ask your guests to help! A potluck party is a great way to get everyone to contribute, reduce stress on the hostess and get a variety of dishes on your table.
5. Be Cautious
Sometimes in spite of our best intentions, we get drawn into all the aggressive festive season marketing and advertising. Everyone seems to be saying that we need a new mixer grinder or a brand new pair of shoes – it is very important to stay sane in this scenario. Stay far, far away from all kinds of EMI or ‘Buy now, pay later’ schemes and minimize the use of your credit card. Be sure to make a budget before you start spending, allocating sums of money to each category of Diwali spending separately. Opt for community celebrations rather than individual ones – pooling money for rangolis or crackers works out cheaper.
Remember, when in doubt, go eco-friendly!! Having an environment friendly celebration is sure to cost less – check out our eco-friendly diwali tips here. Now that you’re all set to save money, just let your hair down and enjoy the festival of lights to the fullest!! Happy Diwali!
How do you plan to save money this Diwali? Do you have any more tips to share?