Data from Booking.com, a travel company, has revealed that the UAE, France, and the UK are the top-booked travel destinations for the coming months. Goa and Jaipur have surpassed pre-pandemic tourism travel numbers and are expected to increase.
Diwali is the best time to experience varied cultures and heritages, taste mouth-watering food items, and shop for the entire family. Make sure that you plan for a Diwali trip well in advance.
How to plan for Diwali expenses?
Your expenses are likely to go up the ladder during festivities. Airfare or rail fare, hotel bookings, food, and commute expenses will form a significant part of your overall expenses. However, you will have to consider a lot more things in addition to this.
If you are traveling to meet your relatives, you would be required to buy gifts for them. Electronics and sweets are the items people usually give to relatives – and good quality products are expensive. So, you must be very cautious and vigilant while making a Diwali to-do list. If you decide to buy costly items like gold and jewelry, you might need a financial expert’s help. We understand that there might be many things that you need to purchase immediately, but you should not utilize all your savings at a go.
So, follow the below-mentioned steps to meet all your expenses stress-free and systematically –
Plan, plan, plan.
You must make a budget considering all your potential expenses during the festive season. Try to make it as accurate as possible, accounting for even the minutest of details. Before finalizing a purchase, compare different offers and select the one that suits your requirements the best.
As the business world is greatly affected by curtailments worldwide, many employees might not receive the annual Diwali bonus that they truly deserve. Consider the long-term impact of every single purchase. Ask yourself the following questions to get a better understanding of how purchase planning works –
- a) Do I need to buy this product? How necessary is this purchase to me?
- b) How can I get the best deal possible for this product?
- c) Should I make all the purchases immediately, or can some purchases be delayed?
Take your time to answer these questions, and do not rush the process.
Do not shy away from a personal loan.
A personal loan is a no-collateral loan that is readily available for meeting crucial needs. It is available to those who meet the personal loan eligibility criteria set by the lender. Don’t worry; the requirements are not very harsh, but you need to show repayment intent and ability while applying for the loan.
Keep track of your expenses.
When you opt for a loan, your expenses will also include the regular interest payments. Therefore, it is an indispensable requirement that you know about the prevailing personal loan interest rates and the working of the personal loan EMI calculator. Your lender’s personal loan EMI calculator is easy to use and can help you stay informed of your financial commitments.
Final Takeaways
When you decide to take a personal loan to meet your expenses, make sure that you have a well-thought repayment plan ready. It is easy to obtain a loan, but it should not be difficult to repay it. Financial aid from top financial institutions is easy to obtain, can make your Diwali more memorable, and take you closer to your loved ones. A well-thought financial plan and loan backing can get you the unforgettable experience that you deserve.