Skipping the festive sale can add this much to your wealth

Attractive ads and unbelievable discount offers around the festive season are enough to seduce even the most strict, disciplined shoppers. Everything from home furnishing to electronics and automobiles to the chicest of clothes is on sale. In the tug of war between the heart and the head on ‘to buy, or not to buy’, more often than not, the heart wins.

The irony is, after giving in to the pleasure of impulsive buying, our conscience keeps pricking, fizzling out all the happiness brought on by the new purchase.

So instead of opening the purse strings for shopping, why not redirect that money into something that could help you build wealth?

To do that, you’ll first need to ‘cancel’ your retail therapy sessions. You can do so by deleting shopping-related apps from your mobile. You can re-install these apps later when you have planned your purchases, so you will buy only what is needed and not everything that’s on sale.

The money saved from skipping the multiple festive sales can be redirected towards investments that are carefully selected based on your financial goals, risk profile, and investment horizon.

Investing can make money work for you and help you get closer to your financial goals. Avoiding instant gratification and instead working towards building a secure, planned and comfortable life can be difficult, but in the end, the fruits tend to be sweeter. And if you do plan your finances well, you’ll be able to earmark a lot more funds towards impulsive purchases without your conscience guilt-tripping you. Isn’t that amazing?

So this festive season, instead of shopping for fancy brands, shop for investments that work for you. You will pat yourself on your back as you see your investment snowball in the long run.

Views and opinions contained herein are for information purposes only and should not be construed as investment advice/ recommendation to any party or solicitation to buy, sale or hold any security or to adopt any investment strategy. It does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. The recipient should exercise due caution and/ or seek professional advice before making any decision or entering into any financial obligation based on information, statement or opinion which is expressed herein.

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