December is the most celebrated month in Kenya, as families unite to celebrate Christmas, the birth of Jesus Christ for Christians. The Non-Christians also seize the moment to enjoy the holidays as they rejuvenate in preparation for the next year.
Gifts are shared as the spirit of Santa Claus roams the air. This truly is a moment to recollect all that happened from January.
Sumptuous meals and travelling is the order of the day. However, the proverbial Njaanuary is always waiting to waylay unsuspecting individuals and it may linger on and even disrupt plans for the new year.
In this article, Kenyans.co.ke highlighted a few ways to inform you of how to plan your expenditure so you have money left for January and ensure that regrets do not overshadow your enthusiasm.
1. Budget
Many Kenyans want to enjoy the December holiday, however, take care not to be a spendthrift or an impulse buyer.
Setting a limit for your spending is a good idea as it will ensure that you shop with a goal.
Celebrating without a budget is similar to travelling across the country without a roadmap. While both can be accomplished, the result is usually expensive and wasteful.
Within the budget, it is advised that you inflate the items by a small margin so that you can factor in any sudden increase in products prices.
2. Create a to-do list
This is beneficial as it will guide you on what to do, where to go and who to meet. Writing down planned details of events, like camps and adventures for your family or friends will be in line with your budget.
Within a to do lits, there should also be space and budget for miscellaneous activities.
The list will help prioritise activities and reorganise your plans, should something disrupt them.
3. Track Your Spending
Yes, you may have a budget, but we all are human beings and we tend to forget at times. Especially when we are buoyed by being around loved ones. Sometimes we are compelled to impulse actions, where we spend without taking time to reflect.
Having a tracker on your spending, either through a notepad, diary or on the phone will assist you to put yourself in check. At the end of the day, you can list down your activities and put them on a weighing scale.
4. Choose Time Over Money
You do not need to buy gifts for all and sundry. Some people appreciate your company more than gifts. You can save money this holiday by valuing memories and experiences over gifts.
Many researchers hold the fact that people who value time more than money are happier and more productive in life.
It is important to have in mind people who are likely to hold the same opinion because as much as visiting a person in need is sentimental, they still have to eat and meet other basic expenses.
5. Shop Early
Within the Christmas period, you can seize the opportunity and shop for items that are basic and crucial. You can take advantage of price slashes associated with holidays and shop foodstuffs for January.
It is also wise to clear some January bills as early as December. For example rent, electricity tokens and water bills.
6. Let Your Savings Be the Last Resort
Your savings come in handy at your most dire need. In January, we have seen cases where salaries delay or more debts are accrued. School fees and transport costs sometimes hike.
If you resort to spending your savings in December, January may end up being a long boring month. Avoid pinching pennies from your saving account unless it's an emergency.
7. Make More Money
Despite being on holiday, you can make some more money from side hustles if you are a professional, or from handy jobs that may come by.
Alternative sources of revenue may help you cover a few costs.
8. Book A Return Ticket as Early as Possible
For those who travelled to the countryside to visit their families, returning home can be hectic, especially for last-minute riders.
Transport costs hike and congestions are always experienced.
Booking a return ticket with travelling agencies can also save you from last-minute rushes.
From Kenyans.co.ke, we wish you happy holidays.
