Jingle Bills: Your guide to loans and smart spending this holiday season

Papalapit nang papalapit na ang Pasko... and so does our temptation to overspend 😬

The holidays can be expensive. Fixed-rate loans can help cover those costs, as long as you spend it wisely.

'Tis the season of giving, treating yourself, and, you guessed it, a sleigh full of loan and buy-now-pay-later options. As the holiday season rolls in, the temptation to go all out on festive expenses can be hard to resist. So before that happens, let’s set your budget straight first.

Whether you’re considering using a credit card, installments, or personal loans to give you extra leverage for your holiday shopping, remember that borrowing money comes with responsibilities. Ask yourself, what can you realistically afford to repay without compromising your budget in the coming months?

‘Di masama umutang, basta nagbabayad ayon sa usapan. Be intentional about the amount you borrow, ensuring it aligns with your needs rather than succumbing to extravagant spending.

Here are a few more tips on using loans to your advantage this holiday season:

Carefully assess your financial situation.

Look at your income, savings, and existing financial obligations. Do you have room to squeeze in for your holiday budget? Understand how much you can realistically afford without straining your overall financial well-being.

Set a spending limit.

Decide on the maximum amount you’re comfortable to shell out on gifts, decorations, travel, and other festive expenses. This keeps you from impulse buys and ensures you enjoy the holidays without the unexpected financial stress later.

Create a detailed list of gifts and other expenses.

Make a list of everyone you’re buying for. Assign a reasonable budget for each person and factor in other expenses like brunches, dinners, and other holiday activities. This list provides a visual guide to your holiday budget, helping you keep focused and intentional with your spending.

Explore loans with predictable monthly payments.

If you’re thinking about getting a loan, go for the ones where you know what you’re paying each month. Fixed interest rates are usually the most predictable, giving you ample time for repayments without any surprise fees. InstaLoan* is a great example this, which gives you up to P5,000 extra budget to fit in all your holiday plans without the hassle.

*Do note that InstaLoan is only available to Android phones with a credit score and active cashflow sync as pre-requisites.

And that’s your game plan for keeping the holidays fun and your wallet in tact! It’s really just all about being real with your money situation, knowing what you can afford, and planning a budget that won’t haunt you come January.

Whether it’s Secret Santa with your best buds or a family feast, the real holiday magic lies in making every moment count with those you love ☃️❤️