Financial Planning During The Festive Season
As the year draws to a conclusion and the festive season is becoming intense, a lot of people will feel the need to spend and buy a lot of things. In this part of the world, many people will be travelling to the village to celebrate the season with their family and loved ones, while some others will be engaged in other activities to celebrate the season. All these, if you will agree with me, will create expenses and of course, will impact on the pocket. What a lot of people fail to understand is that, after December, there will be January, and of course, you will have responsibility to take. So one needs to take caution of how to spend and what to spend on, so that they will not eat their seed alongside their fruits. Let us look at how to plan financially during this festive season.
The first one is to have a budget, according to your financial ability, of what you want to spend. It is true that you have a responsibility to undertake some spendings, at least as part of the celebration, but be cautious not to overstretch yourself. I remember when one of my friends, some years back, told me how he borrowed money to get some clothes and accessories during a festive season like this. By the time the money was due to be repaid, the funds he was expecting had not arrived and his salary was not paid. That was how he was looking for how to borrow again to offset the former debt. He ended up selling one of his priced possessions just to be able to pay up. He could have avoided it if he had stuck to what he can afford, rather he chose to hang his bag in a place beyond his reach.
What you cannot afford should not cause you to overstretch your limit. The truth is that you must not wear new clothes or have new set of shoes. The ones you have, wash them and adorn yourself with them. You are the only one who knows that it is an old wear, others are not even interested to know. Do not put your pocket on pressures that are unnecessary just because you want to try out something new. Trust me, if you go broke in the process, you might be on your own. A lot of people are too busy to even take note of you, so be careful of how you spend. Spend, not because you want to show off nor because you want to be like someone, but because you need it and because you can afford it.
One thing you should avoid this season is comparison. Whatever anyone has or is buying should not force you to do the same. After all, you are not in any competition with them neither are you to follow after their standards. You have to understand that everyone, and that includes you, has their own individual financial capabilities. You have to limit your expenditures to only what you can afford. It is not the value of what you have bought that actually counts, but the heart and the appreciation behind it. Someone may buy a $10 shirt and still feels happier and more fulfilled than someone wearing a $1000 shirt.
As you make budget for what you will spend this December, also make provisions for January, so that you will not become financially stranded. A friend of mine once said that before he travels to the village during the Yuletide, he first saves the money he will spend in January when he comes back, so that he will not be tempted to spend everything. There is nothing that you spend that you will not see someone who out-spends you, so do not feel pressured by what others are flaunting - just be on your lane and enjoy what you can afford. What you cannot afford today, you can have plenty of them tomorrow, so go at your pace.
There is no price for the highest and most spender in the festive season. In fact, a lot of people might not even take note of the fact that you actually got something new. If you have this mentality, you will not be pressured to go beyond your limit. After all, the responsibility of what to buy is yours and should be determined by what you have at hand and not what someone else feels like.
Thanks for reading
