Economists advise saving your money for the next year

Although Christmas Eve is only three months away, Christmas is already a hot topic in many places. Economists advise not leaving gift shopping to the last minute. Buying could become more expensive, primarily because of transport from abroad. They say people should not spend unnecessarily as prices are expected to rise next year.

Some stores have been preparing for Christmas since February. “This year’s holidays are based on traditions. Because of the situation last year, there is more interest in traditional colors and lights, ” Olbrecht, owner of S.O.S Decorations, revealed. 

The Achilles heel in the Christmas decoration business, according to the retailer, is packaging and distribution. “Transporting decorations across the Czech Republic is easy. But when we send decorations to Russia, for example, it’s thousands of kilometers. The products have to be packed carefully, so they don’t get destroyed,” he added.

This year, according to experts, it pays to buy gifts in advance. “There is a transportation crisis raging in the world due to the pandemic. Prices have risen many times over. For example, we will now have to pay significantly more for container transport from China to Europe, ” warned economist Lukáš Kovanda.

Kovanda said people should not spend money on unnecessary items during the holidays. Next year, another wave of price hikes is expected, so it is necessary to create a sufficient financial reserve.