Yes! The festive season is here, which means that it’s time to set up our houses with lights, wrap up gifts, get tickets for concerts, bring out sweets, and spread joy to everyone around us.
During the festive season, people tend to spend more money than at any other time of year. Nonetheless, “seasonal spending” is being abused, causing many people to go “broke” or bankrupt after the holiday season.
To avoid sapa and see shege after the festivities are over. Here are helpful tips to help spend wisely this festive season.
- Make A “Festive” Budget
To avoid God abeg! with the state of your bank account after the festive period is over, it is necessary to create a habit of budgeting and sticking to a certain amount you intend to spend during the festive celebration, before the peak of any festive season. This allows you to consciously discipline yourself by attempting to stay within your budget during the holiday season.
- Track Your Expenses
After creating a well-planned festive budget, it’s time to spend and have fun. Tracking your expenses allows you to assess your spending habits and make necessary adjustments. It also motivates you to take proactive steps to eliminate unnecessary expenses and encourages you to save more.
- Do Not Follow Trend
You must not identify with what other people are doing. Make an effort to be unique while staying within your budget. It is not necessary to follow what is popular. Make an effort to distinguish between what you ‘want’ and what you ‘need.’ Examine your income and ask yourself necessary questions such as, “Does it matter if I buy new clothes during the holiday season?” Is this vacation really necessary? Do I have enough money to throw a holiday party? Do I need to go to this concert? While it is admirable to celebrate the festive season, it is also critical to be smart with your spending.
By putting the strategies discussed above into action, one can proudly manage their finances and avoid sapa during or after the holiday season.
What financial strategies do you employ during the holiday season? Please inform us by leaving a comment below.
Have a wonderful holiday season, but keep your finances in check while having fun with friends and family.
