A couple of years ago I was over the moon after landing my first job. I celebrated regally during the festive season that ensued, only to land in a financial soup for the next few months. With gargantuan credit card bills and barely any cash left, I had no other option but to default the payment. This lead to expensive interests and late fees against my card, which in the hindsight seemed rather unnecessary.
Then on I made sure that I at least make timely payment against all my festive expenses. I achieved this by following a few simple practices. Firstly, I regularly set aside an amount throughout the year to make festive splurging easier on the pocket. Besides, I have tried to make payment with the money I have, instead of credit cards. Don’t get me wrong, credit cards are a necessary part of our lifestyle. But a little restraint can give us a lot of respite at the time of repayment. Not surprisingly, I was able to pay all the festive bills on time and didn’t have to incur any default charges.