The holidays are here again. It is a time when cards of goodwill are exchanged, the streets are lit with bright, colourful lights, and the air is filled with jolliness. Some say it’s the most wonderful time of the year. However, if you are like many Nigerians, this hasn’t been the best of years economically. It is therefore critical to pay close attention to your wallet as the euphoria of the holiday kicks in. There’s no need to spend a fortune on the festivities and eventually struggle through the January bank-balance blues.
Whatever the circumstances are, we still want to make Christmas a memorable one by spending time with family and giving gifts to loved ones without having to break the bank. Achieving both may be tough for many but you can be certain to come out unscathed with these brilliant “money-saving” tips.
Create a budget: Before the frenzy of holiday shopping comes knocking, it is wise to note how much you’re able and prepared to spend. This budget allocation should be guided by the amount of money you have saved up. Do not turn a blind eye to the fact that January is usually considered a financially gruelling month for many, so knowing where the fiscal limits lie will help you avoid the future financial burden that the festivities permit.
Avoid the unnecessary: Fight the urge to indulge in the seasonal spending spree that accompanies Christmas. There are a lot of items that aren’t needed at Christmas time. Save your money and finite resources by not including them in your Christmas celebrations.
Reuse decorations: Who says your decorations have to be tossed out at the turn of each year? Save up on your already stretched budget by dusting out the box of decorations. You can also build up the excitement at home during this season by getting the kids together for festive craft sessions and have them make cute, adorable, and – more importantly – cost effective decorations.
Seek out last minute deals: Deals are synonymous with the holidays as retailers look to clear out old stock in preparation for the New Year. Contrary to common knowledge that it is better to start your Christmas shopping early, you can make good on your quest to save big during the festive season by waiting till the last minute. Take advantage of year-end sales and save up some rainy day funds by acquiring your Christmas essentials at discounted rates.
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What other saving tips do you think will help during the festive season?