Hello everyone one in this amazing community
Wishing all the wonderful Hive Learners pals and fans a very Merry Christmas.
Spending has always been what comes along with celebrations and festivities.
Spending during the End of the year in this part of the world is a very important thing that is inevitable, in fact there is a special term or word my people in Nigeria tag for Reckless spending for this period of the year: Detty December, Detty December is a period of the year, in December precisely, usually starting on the 20th of December to 31 or The new year some times, where you party to the extreme, spend to the extreme, push yourself over the limits you clearly set for your self.
During Christmas people hear buy Things extravagantly,
We buy clothes, expensive clothes, shoes, chains and bracelets.
We make the most expensive hairs, we barb the most sophisticated hair, we buy the most expensive drinks and travel to long distances just to visit family and friends, and also to party hard. This is just what Detty December is about.
What are the Aftermath of Detty December?
Over spending: at the end of the period where we are on a spending spree, we usually overlook budgeting or money management, we just want to spend to feel among and enjoy the moments. This brings people into deep debts In the new year. Or some times even before the end of December all the funds might have been completely finished.
Unnecessary Risks: most of the time people do a lot of risky things like travelling over a very far distance. Why can cost a lot of money and also open the people up for risk of road accidents, usually caused by the same Detty December feelings from the Drivers. The drivers wants to hurry up and make money of each trips, they will want to try all their possible best to overspeed and go many trip per day. During the frenzy and rush accidents happens that claims the life of a lot of people during this period.
How exactly am I doing to keep My Finances in check?
Firstly : I have a general budget draft and how much I am to spend from this December to January. This is my first vital secret, the Total Money I am to spend regardless of any contingency will all be within this Amount, no going above it but it can be below the set amount.
This year I budgeted #150,000 for my spending this December,
Out of it, I budgeted money for myself and my Friends around me, I budgeted for my Parents, My Staffs bonuses is from it, My pastors and church members, The streets pals, and some extra miscellaneous.
This is what I called: Tight Budgeting
Secondly: All my Budgets are all based on concrete evaluation of my Needs, not wants, the money scheduled for each group of people are based on how much they would be needing it, not just for what they wanted.
All the Drinks bought, the food, Gifts, Decorations , Entertainment and many other ones are based on what is needed.
No unnecessary spending.
Thirdly : some times I buy all the items needed days before the Celebrations day: for example I bought a chicken for #20,000 on the Christmas day, the chicken was expensive to that extent because I bought it on the Christmas day.
The truth is that, had it been I bought the chicken a week before that day, I could have seen it even cheaper and better.
In Nigeria we inflate prices of this on the season of celebrations, so it's good to buy almost everything earlier.
Source is
I believe following this steps I have been able to keep my finances in check in order to avoid being broke.
Thanks so much for reading and also commenting ❤️🤗
Do have an awesome time celebrating