The expert gave recommendations on the allocation of the budget for the New Year

With the onset of the winter holidays, many are faced with increased costs, especially on the eve of the New Year. Spending on gifts, New Year's table, and home decoration can cause debt in January if you don't plan your budget in advance. This was told by Petr Shcherbachenko, an associate professor at the Financial University under the Government of the Russian Federation.

According to the expert, it is important to allocate in advance not only the amount for the holidays, but also to leave funds for January.

"It is necessary to set aside 20-30% of the salary to cover the mandatory expenses for groceries and utilities," he said.

Shcherbachenko stressed that such steps would help create a financial safety cushion and avoid unpleasant financial surprises in the first month of the year.

The expert also shared tips on saving money on the New Year's table. "If relatives or friends gather, we can arrange for everyone to bring one dish. This will reduce overall costs and create an atmosphere of joint participation," he suggested.

Peter Shcherbachenko also recommended making a shopping list with limits to avoid impulsive spending.

"If you really like the product, postpone its purchase for one or two days. If you still want to buy it after that time, then you really need it," he added.

The expert also shared recommendations on the proper allocation of the budget for the New Year: up to 40% for gifts, up to 30% for products for the New Year's table, 15% for decor and 15% for unforeseen expenses.

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