Spend wisely

The malls are starting to thicken with people once again as preparations for celebrating the Yuletide rev up to full gear. And yes, we can expect a hefty dent in our savings as the shopping fever kicks up in high mode.

For about six million credit card-wielding Filipinos out there, it’s time again to be reminded on the prudent use of this modern day convenience that could easily turn out to be the financial yoke that would burden household spending after the holidays.

And if you belong to the remaining populace that needs to rely on cash transactions to get all the gift-buying and preparations for the Christmas and New Year celebrations done, it’s easy to end up with an empty passbook before the year ends.

Most Filipinos’ pockets may be thicker these days now that the 13th month pay checks and/or Christmas bonuses have been issued. Thus, there is also a big temptation to spend more than what is needed, especially if the additional income had not been budgeted for anything else except for the holiday revelry.

Stick to a plan

Here are a few tips to bear in mind as we start to hit the shops tonight and the coming days.

Be sure to keep a shopping list that has been carefully thought out. It’s always best to discuss the items that are written down with someone (your spouse or a parent or kin); this way, even if it is your money, there’s some form of restraint that will keep you from going over budget. It’s also easier to stick to your list.

Allocate specific days to do your shopping. Refrain from making unscheduled excursions to the supermarket or the mall; this way, you lessen the chances of making those unnecessary and impulsive purchases.

When making a list of gifts, consider including items that are home-made rather than store-bought. You’d be surprised at how long your peso can be stretched by choosing, for example, baked goodies or preserves as holiday tokens. And these are even more “personalized.”

Credit use

If you prefer using a credit card, sticking to a planned shopping list keeps the temptation to overspend at bay, and minimizes the after-holiday woes. Remember that there are stiff penalties on extended credit that will not be paid in full when the bill arrives.

Credit cards are useful if you know how to maximize its features. One good way of making them work for you this holiday season is to take advantage of the zero-interest terms on big purchases like appliances and electronic gadgets.

When buying an expensive gift for a loved one, or the whole family or even oneself, make sure that the resulting amortizations will not tax the monthly budget. Better, buy items on credit that banked on money that’s already been saved.

Use technology

One of the cheapest (actually, it’s almost free) ways to send across the season’s greetings is by e-mail or the very convenient Facebook social media site. Be sure to send out that note with a unique personal greeting to each of your friends.

Relatives and close family friends will appreciate an update complete with pictures of what you’ve been doing during the year. Putting it together does not take a lot of time, but you’d be surprised at how much time you can cover in what you will be sharing.

If you’re going to do a text blast for your Christmas and New Year greetings, choose a good “unli” package if you’re a pre-paid subscriber. Telcos are all over each other nowadays offering some of the most inexpensive plans that would hardly dent your budget.

Announce that the whole family will be online on the eve of Dec. 25 and Jan. 1. Set up the webcam and have fun with friends and kin wherever they are and whatever time zone they belong to. The season after all is a time of sharing, and we should be grateful that technology now allows us to do communicate the season’s cheers in real time.

Safety and security measures

As you do your shopping, don’t forget basic safety steps like keeping your wallet and bags close at hand. Better to go shopping with a companion so each can watch one another.

Using the ATM machine is another vulnerable area for security. Be watchful of persons around you. If possible, try not to be seen withdrawing a substantial amount. 

Of course, safety at home should not also be overlooked. The house should be well locked up if it is to be left with anyone at home. Better still, try to arrange with a neighbor to keep on eye on your house, especially if no one will be home for a few days.

Happy shopping!

National Collegiate Championship update

One of the features of the Champions League (PCCL) National Collegiate Championship games is the dual meet between the top two junior teams of UAAP and NCAA.

This dual meet of what many consider as the best junior teams in the country is being conducted by Philippine Collegiate Champions League (PCCL) in cooperation with ABS-CBN Foundation for the benefit of “Kapit Bisig Para sa Pasig” rehabilitation project.

The games this year feature the showdown between UAAP juniors champion, National University Bullpups, and the NCAA perennial champion San Beda College Red Cubs. The runner-up teams of UAAP and NCAA also compete with each other, this time featuring the FEU Baby Tamaraws tackling NCAA’s College of St. Benilde LSGH Greenies.

Regina Lopez, the untiring head of the ABS-CBN Foundation, will hand the plaques of appreciation and the winners’ trophy to the participating teams.

Watch the games today starting at 2 p.m. at FilOil Flying V Arena, San Juan City, and do your share in the rehabilitation of Pasig River. National U Bullpups will meet San Beda College Red Cubs in a virtual national juniors championship.

In the other game, Ateneo Blue Eagles will try to keep its momentum for a three-peat national collegiate title by trying to knock out the hard-playing NCAA champion, San Beda College Red Lions.

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Should you wish to share any insights, write me at Link Edge, 25th Floor, 139 Corporate Center, Valero Street, Salcedo Village, 1227 Makati City. Or e-mail me at [email protected]. For a compilation of previous articles, visit www.BizlinksPhilippines.net.