Is it too early to celebrate Christmas? Probably.
Is it too early to plan for Christmas? Certainly not.
You might already be late.
Here is Why -
Based on a survey done by LocalCircles, a citizen and community engagement platform, spending during the Diwali season was estimated to hit $32 billion. In 2021, the spending was $37 billion.
Christmas, on the other hand, has a bigger appeal across the world. Therefore, the spending could be much higher in this category. Based on a survey done by Deloitte before 2019, the average Christmas spend per household reached $1500.
Maybe, as of 2022, the spending might be lower due to inflation concerns. With that said, spending of over $1000 per household is expected regardless.
While considering the high amount & the inflation in the worldwide economy, one must plan for such an event well in advance.
How to Plan Your Expenses -
1. Plan your festive calendar - This will give you an understanding of what you will be saving for. One should plan this before the start of a calendar year. Ideally, in December. If the forthcoming year is 2023, then one should start planning by December 2022 at the latest.
2. Establish a budget - You can consider your past spending and the prevailing cost in the market.
3. Plan your Gifts - Decide on what you wish to give so that you know how might actually spend.
4. Start Saving - Start saving for the season with investments.
Do you know you can plan your spending for the festive season for at least the next ten years? To know more, contact us at 080-4124 5021/5022 or email us at email@example.com to set up an appointment today.
Do Not Miss the Train Again -
You might be late already, but there is sufficient time to plan for the forthcoming years. Benjamin Franklin said - “By failing to prepare, you are preparing to fail”
Let us plan for the upcoming festive season while keeping in mind that it is never too early to plan.