How to avoid spending all your money during the Christmas and New Year holidays.

The holiday season for Christmas and New Year is currently underway. People are spending money on gifts for their loved ones, planning festive menus, and thinking about their holiday outfits. There is a risk of overspending, although you can save money.

"Telegraph" has prepared a few tips on how to manage your expenses wisely during the Christmas and New Year celebrations.

• Plan your festive menu in advance. Everyone wants to enjoy a variety of dishes during Christmas or New Year, and there’s a chance of buying too much unnecessary food. Often, people don’t manage to consume all the products for the holiday, leading to waste. It’s better to write down what you want to prepare and buy ingredients only according to your planned menu.
• Avoid making large purchases right before Christmas and New Year. Stores may employ clever marketing tactics, supposedly offering discounts. However, it’s unlikely that you will actually save money during this time, as you shouldn’t expect genuine sales.

• Save money by cutting back on unhealthy habits during the holiday season. Avoid buying cigarettes, alcohol, or excessive sweets; these funds could be better spent on thoughtful gifts for loved ones or on your festive menu.
• Don’t borrow or take out loans for the holidays. Keep a budget and record everything you need. Spend according to your income and allocate specific amounts for certain purchases for Christmas and New Year.

Previously, "Telegraph" shared effective tips for saving during the Christmas and New Year celebrations. There are several ways to keep your finances intact during this period.