The Christmas and new year holidays are fast approaching and there are a lots of people making plan on how to enjoy it to the fullest. And it is a known fact that it requires money for you to enjoy it the way you really want to but the recession in the nation could really affect the enjoyment of an average Nigerian.
I brought four tips to make you manage your money and not run into debt while struggling to make the Christmas and New Year wonderful for yourself.
Plan your spending
Yes, I don't think I need to emphasize so much on this point. You have to plan your spending, there's no way you would not run into debt if you just buy things anyhow without thinking, except you're really capable. Well, I know there are a lots of people that can afford to spend the way they like but for those who need to manage, you better plan what to spend on, make a budget.
Plan with your income, don't spend out of your means.
Keep Records of Your Money in flow and Expenditure
Keeping records would actually save you from a lot of unnecessary spending. You'll be able to monitor what you use your money for and also be able to put a check on yourself and know when you're overspending.
If you don't keep records, you'll just keep spending until you're out of cash and you'll be wondering how the money left you.
Don't try to impress and don't be in a competition with anybody.
As I write this, I can imagine a picture of Mama Segun planning to buy Christmas clothes for her children from that store with expensive clothes all because of the label that would come with the clothes. I can also see Effiong planning to visit the phones store to get an iPhone 7 for his girlfriend just because Kelechi has already gotten one which he'll present to his on Christmas day.
Here's my candid advice to Mama Segun, don't spend the little savings you've been able to gather from your bread and Akara business if you know it'll make your family go hungry in January and February. Please visit that market at the bus stop, you'll find very good clothes, as beautiful as the ones you're planning to buy at that expensive store but at very cheaper rates, all you need to do is just select carefully. Buy it and iron it well for your kids, say sweet words to them to boost their morale and cook jollof rice for them. No one would know that you bought their clothes at a cheaper rate when they put it on on Christmas day.
And to Effiong who wants to spend his whole year savings on iPhone for a girl when he uses Nokia torchlight. Bros, better use your brain well. Remember that Christmas is Jesus Christ's birthday and not your girlfriend's. That money could be used to invest in something that'll produce millions for you in future and you'll be able to buy the latest phones when the time comes.
Don't spend stupidly trying to impress or compete with someone else.
Ensure minimal waste
This applies to every area. Don't waste anything, be it oil, maggi, pepper, salt, fuel, money, airtime, just name it. No matter how little you think that thing is, make sure it doesn't waste. Don't waste a bottle cover of palm oil everytime you cook just because you still have two full bottles left. It'll surprise you the quantity of oil you'll get if you combine every bottle cover you wasted at every usage, it could just be enough make another day's meal.
I'll stop at this now. You can also add your own suggestions below.
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