Think Twice Before Buying These Items with Your Christmas Bonus

1. The latest gadget
   
   News about the latest gadget releases always creates a lot of noise in different media, making those costly phones seem like something you must have. Plus, with cold, hard cash in your hands, it can be really tempting to think that you can afford to spend your money on whatever gadget you want.
   
   However, putting your purchase on hold may be the wiser thing to do for now because you can still purchase that model next year. By that time, it is expected that smartphone manufacturers have released a new model, and vendors would have put the price of last year’s version gone down.
   
   You also don’t have to worry about missing out on anything since new product features between consecutive models are rarely significant and mostly aesthetic. Thus, in terms of practicality, you still get a powerful gadget for a considerably lower price.
   
   
2. Car accessories
   
   As a car owner, it’s natural to want to keep your vehicle in good shape. The more trinkets your car has, the cooler it looks. Unfortunately, buying car accessories—from phone holders to dashcams and portable power bank—can cause your expenses to pile up easily.
   
   That’s the thing about cars: it’s not always possible to keep it well-groomed without going all out on maintenance costs.
   
   Another consideration you need to think about is the number of times you’re using your car for your commute. With the metro traffic getting worse around the holiday season, it might be counter-productive to load it with accessories if you won’t be using your car that often.
   
   So unless you’re sure that you’re ready to hit the road with your car regardless of the traffic condition, you may want to think long and hard before pimping your ride.
   
   
3. Plane tickets
   
   A lot of consumer products go on sale during certain seasons, but unfortunately, you can’t purchase plane tickets at big discounts in December.
   
   At this time, travelers and tourists are flying home or taking a holiday break with their loved ones. This creates a huge demand for flight bookings, so airline companies are likely to take advantage of the business opportunity by selling plane tickets at higher prices.
   
   Needless to say, booking a flight during the holidays isn’t one of the best ways to get value for your money. Better to wait for the peak travel season to pass, which usually takes place midyear or after summer months.
   
   
4. Home appliances
   
   Just like plane tickets, home appliances are popular items for shopping around Christmas time. Thus, even if it’s a lean season for air conditioners because the weather is colder, there are no significant price drops during this period. It’s more advisable to shop for air conditioners before the rainy season starts in June or July, so you may want to schedule your purchase earlier or later than December.
   
   The general rule for appliance shopping is to wait for new models to be released to the market and then use that opportunity to buy models from the previous year at discounted prices.
   
   
5. Jewelry
   
   While you’d like to look your best for your annual Christmas party in the office or reunions with family and friends by wearing a lovely set of jewelry, you probably should think twice—or even more—before buying.
   
   This is true especially if it’s your first time to buy real jewelry pieces, which don’t come cheap. This kind of investment requires a lot of research and shopping around, so be sure to do your homework first.
   
   Tip: Tap into the jewelry collection of your parents or siblings, and ask them if you can borrow them for a time. Just take good care of the pieces you borrowed and return them clean and polished.

What’s in Your Christmas Wish List?

There are tons of ways you can spend your holiday pay or bonus, but sometimes, delaying your purchases may prove to be more practical and allow you to get a better deal along the way. Timing will then be an important factor for consideration in this case.

Beyond the merrymaking, Christmas is also a good time to evaluate your financial goals. You can take the usual wish list tradition a step higher as you start a new savings plan, or keep it simple by spending a happy night with your loved ones.

The way you choose to spread the spirit of Christmas is a decision you’ll have to make for yourself. For financial advice, feel free to come to us for help. Talk to a Bancassurance Sales Executive at any of our 900 BPI branches today.