Simple Ways You Can Save Money This Deepavali

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Deepavali is just weeks away and for those who observe this joyous occasion, it is time to get those preparations going.

Deepavali is the festival of lights and colour. If you swing by Brickfields and Jalan Tengku Kelana, or Little India in Ipoh and Penang, you will be delighted at the sound, sight and smell of festivities.

However, as nice and warm Deepavali is, just like all festivals it comes with a price tag. What’s worse, the price tag likely getting bigger with rising inflation.

While we all want to embrace celebrations after the recent years of social distancing due to the pandemic, we can still do it without overspending.

Here are 5 simple tweaks that you can make so you don’t have to celebrate Deepavali worrying about your finances!

Make smart clothing choices

It is a tradition to enjoy an oil bath upon waking up and put on a fresh pair of traditional attire. This will be followed by a temple visit. While putting on a new saree and kurta is appealing, making it an excuse to buy over-expensive traditional attire will lead you to overspend.

Many of us don a grand saree and kurta only during festivities and weddings. Other times, you would feel too out of place and overdressed. Naturally, you will opt for a simple attire and your grand attire will soon face the back of your cupboard until one fine day you decide to Marie Kondo your closet.

To compare,

Clothes	Price*
	Designer piece	Casual
Kurta	RM250	RM70
Saree	RM500	RM100
Saree blouse	RM150	RM70

*Estimated price range from online stores.

Financially-healthy choice

Re-use the sarees you bought over the years but mix and match your saree blouses. That way, you will have a fresh new look without the big price tag.
You could opt for a simpler and casual traditional attire that you will wear throughout the year.
Swap your saree or kurta with your cousins or best friends. You could then Insta your clothes swap and #twinning with a photo collage.

Make your own cookies

Deepavali is just not the same without Murukku and a long list of other cookies. However, many of us are forking over big bucks buying it without a second thought.

If you stop to think about it, Murukku and the other festive treats we enjoy during Deepavali are more meaningful if family members come together to make them.

To compare,

Cookies	Price*
	Store-bought	Homemade
Murukku (100-120 pcs)	RM85	RM27
Ghee biscuit (30-35 pcs)	RM35	RM17.50

*Estimate price range from online stores.

Financially-healthy choice

Make your own Deepavali cookies! It may take some planning ahead to gather all the ingredients and round up the family troopers but that's what memories are made of.

Here’s what you need:

Murukku (100-120 pcs)

Ingredients	Cost
Murukku mix	RM9
Ghee	RM8
Oil	RM10
Spices	Negligible
TOTAL	RM27

Ghee Biscuit (30-35 pcs)

Ingredients	Cost
Moong dal	RM1.50
Ghee	RM12
Cashew nut	RM4
Spices	Negligible
TOTAL	RM17.50

Money packets and gifting wisely

Kids look forward for money gifts from the adults during Diwali. ‘Ang pow’ has also become the term Indians use to describe the money packets often given to the kids and elders. While it is definitely nice to gift someone on an auspicious day, it would be better if we give a deeper thought to the act.

Does a 13-year-old really need a RM100 money gift? While RM100 holds enough value to cater positively for an undergraduate, it might do more harm than good in the hands of a young teenager.

Financially-healthy choice

Instead of giving them money gifts, you could consider meaningful gifts:

Fund them to open a basic savings account
Buy them skills-enhancing items

In short, you will nurture them to be financially mindful and you would be saving some bucks by cutting down on money-laden packets.

You could also indulge the kids, adults and the elders with these thoughtful and useful gifts which are below RM30!

Use your credit card wisely

Spending is inevitable during Deepavali. Many households do place a premium on buying gold jewelry during this festive season. After all, gold and gold ornaments are an integral part of this festival.

So, you might as well get the most of out of it. Make use of cashbacks and reward points from credit cards when you shop for groceries and clothes, go out for a family dinner, and movie outings with friends.

Instead of mindlessly spending your money, a quick research will show how you can save money by utilising the discounts, get cashbacks and reward points from your credit cards and membership subscriptions.

In short, find the best way you could make the best of your credit card and membership subscriptions. True, it may take you some time but it will also make your Deepavali a financially-healthy celebration.

To find out more, you can check out our credit card comparison tool here.

So, spend smart, light the diyas and have a joyful financially-healthy Deepavali!