New Delhi, Oct. 15 -- The festive season is upon us, and the natural urge is to spend. While this is a human tendency, this is not a very good idea. During this period too various organizations like banks, credit card companies have various schemes that tempt the wallet, but are disastrous on the finances.

Experts point out the pitfalls and how to avoid them.

"Festivals are always filled with hope, bonuses, and sales, but overly hopeful tendencies can result in bad monetary decisions," says Anurag Goel, Director at Goel Ganga Developments.

People, by default, make the mistake of an over-emphasis on consumption in the near term (read festive season) -gadgets, lifestyle expenditures, without matching them with long-term objectives.

Anot...