HOLIDAY SPENDING ... Cynthia

Well, December is here and this is the holiday season. This is the month for merry making, get aways, partying and generally just having lots of fun. Granted Jesus was born during this month and for Christians, this is pretty significant; He is after all the son of God and our Savior. But we all know most of what we do has little to do with Jesus.

I love the holidays/ December because it is the month families get together and catch up. It is the time most people get time away from work or school and can distress. It is Christmas season so there is lots of cheer and a general atmosphere if fun. But it is also a time when we spend the most and due to poor planning; most of us end up having financially stressful Januarys and Februarys.

How do we go about our December spending and reduce the level of financial stress in the first months of the next year? As usual, my fist point of any ‘how to’ is planning.  Without planning, you are almost a lost cause and maybe have to wait until the next December after reading this article to reap from my two cents advice. What do I mean by panning? December is always eleven months away from January. So think eleven months prior. What would you like to do for your next holiday season when you have enough time away from work or out of school?  What does it entail? How much will it cost? Is it a group thing or an individual thing? How can you start saving to reach that target? The sooner you start planning for this the better.

Let’s say you have been ahead of the game this year and planned for December? You have your holiday fund nicely tucked away and are ready to party and make merry? First of all good for you because let’s face it, most of us cannot afford the December spending spree on our regular income because holiday or not, the bills still have to get paid. So how do you go about spending so that you get the maximum benefit out of your money while making sure you do not overspend and end up eating into the non-holiday fund? Remember the non-holiday fund has to untouched because January bills still have to be paid.

First and foremost, spend within your means. Don’t blow it all in one day at a pricey place that is way out of your league and be back at square zero the next day. The holiday season is generally from 20^th December to 3^rd January. That’s two weeks so pace yourself.

Being December, everyone is out to make some money. Be very careful that you are not overcharged or taken advantage of just for this reason. Pay for goods and services at their fair price and if you feel you are being overcharged, consider changing shop or venue. You do not want some establishment eating a big chunk out of your holiday fund in its quest to make mad profits during the season.

Go Dutch. Yes I know it is Christmas and you are feeling generous and want to treat your friends. But who will treat you when you are already out of cash and still have a number of days before the end of the holidays. Treat your friends once in a while, it is allowed. But also split the bill as much as possible. This way your holiday fund will last as intended.

Look for good deals. Just like you are feeling generous, most shops and establishments will be bitten by the generosity holiday bug and will be giving away good deals. Look out for offers such as buy one get one free or free drinks for first 20 patrons etc. This is a great way to ensure your holiday fund stretches out.

Make early bookings. I know we are proudly Kenyans but this culture of last minute rushes does us more harm than good. Remember my point about businesses being out to make mad profits? There best way for them to manage this is catch you when you are desperate and the last minute rush makes you desperate. Book your tickets, venues, supplies etc. in advance so that you get them at the normal price.

Last but not least, give back to society. It is Christmas, you have had a long year, worked hard and God has sustained you throughout the year.  Be thankful to Him and celebrate His Son’s birth by sharing with the less fortunate. As Jesus said, whatsoever you do to the least of my brothers…that you do unto me.

Happy Holidays!