It’s that time of the year when the temptation to spend is high. The kids are at home and the Christmas season is upon us. You have a holiday to plan, whether you are travelling to the countryside or outside the country, having control of how you spend should be a priority.
It’s also a time when you are linking up with friends and family you’ve not seen throughout the year. For others, it is a good time to have a treat just to relax or pat themselves on the back for a job well done.
With all these, comes the ever-so-tempting offers and events. However, these few weeks will go by so fast and January, or Njaanuary, will be upon us. So how do you keep your purse intact for the coming year?
Whether you are a financial expert or not, the word budget should never leave your vocabulary nor should it be included only during specific periods of the year. It should always be there.
Budgeting will save you from overspending, particularly when the Christmas spirit drives you to spend just a bit more. Splush money on the things that are necessary and then consider the rest.
We are saying you can’t have a good time but be cautious about how you indulge.
We have hinted at this in the budgeting part. Obviously, a lot of things will appear appealing and are meant to drive you to cash in more than you would. This is the time to be assertive with yourself and stick to the shopping list. If you have kids, they will nag you for many things. You have to also prioritise what you are willing to spend on and what you aren’t.
Who doesn’t want to have a nice time? That’s all good and fun but you should keep in mind that you will still have responsibilities in the coming year hence you want to keep off the things you don’t really have to buy.
Peer pressure is a real thing. Whenever you go out with family and friends, you’ll be tempted to be over-generous and spend. You don’t want to miss out and at the same time, you don’t want to seem stingy. However, if you are doing this beyond your means, it’s only a recipe for disaster and you are bound to regret it all.
There’s No Competition
So what if everyone has something nice? No one is winning an award for buying the best gift so do not jump on the bandwagon just because everyone else is. You have no idea where they are getting their money from. You do you and know your circumstances. December will flip over just like the other months so make sure you move into the new year in style.
Hop Onto The No-Spend December Train
If there is a bandwagon you want to join, it’s this one. Why, you ask? Well, it will fix the festive hole in your pocket. Basically, do away with all the unnecessary expenses and do all the things we’ve advised you to do in the points above. This will leave you with more money in your pocket and you’ll be sure to enjoy this once the festivities are done.
Choose Your Hobbies Wisely
You don’t have to spend so much on activities. There are lots of things you can do on a budget or better yet for free if you just take the time to find and plan them. Family outings can be done in the format of a picnic or you can dine at home - just change the set-up, spice things up and make it fun.
Most of us have family traditions that might force us to break the bank and we find it hard to turn down family requests. Well, it's time you politely distanced yourself from such - expensive travels and other things that will dent your budget and opt for simpler and cheaper ways of doing things. Instead of waiting for December to catch up with most people, do this throughout the year when there is no pressure.
We know it’s not easy to do this when everyone is seemingly having a good time. However, you have to remind yourself why you have to do it and share this with your family and friends to avoid any misinterpretations. Happy holidays!
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