What I do to manage my finances in this festive season

The reality is that even in non-festive periods, our spending remains consistent, often exceeding our means. The festive seasons, however, present an even more significant challenge as they come with a desire to give and celebrate, which can lead to financial strain if one is not cautious. I am the type of person who loves to cook and share with our neighbors, both close and far away, but things are not the way they used to be anymore. Nevertheless, I must give because that's the reason for the celebration, but I won't go overboard in spending to avoid a tough start in January. My believe!

These are the practical strategies I put in place to ensure that I don't go overboard with the celebrations. Here are a few of them below 👇

**Planning Ahead **: With the spike in prices, particularly during Christmas, We have started preparing early. For instance, my husband and I began rearing fowls in October, knowing that purchasing them during the festive period would be too expensive. Our thoughts were correct; one broiler chicken costs around twenty-seven thousand (#27,000)naira upward in my area. Where would I get that money from, plus Rice, which is Ninety-five thousand for a bag (#97,500)? This proactive approach has helped us to cut our spending this season? I love the idea!

This idea was the best so far!

Thoughtful and meaningful Gifting: I genuinely enjoy giving to those in need, but I have shifted my focus from cooked meals to offering raw foodstuffs. This change not only minimizes my spending but also allows those that I give to do whatever they like with the food items. Even though, I still gave cooked food.

Giving is living!

Live Within My Means: This principle I learned from my parents, and I firmly believe in it: "Cut your clothes according to the materials you have." I stay true to this adage during festive periods, ensuring I do not overextend myself financially. By aligning my spending with what I can comfortably afford, I maintain a stable financial footing. I don't have to take a loan because there's the festive season in town🤔

Saving by all means: Immediately the salary enters, I distribute my savings to the appropriate quarters because I don't want stories that touch the heart🤣 When the money is saved somewhere else, the idea of overspending won't surface at all. I spend based on what is in my wallet. Why? It is better to save when you can so that when the need arises, one will not be running helter-skelter. Save to be saved! My ways of thinking 👌👌

In a nutshell, with the excitement of the festive season,, I can still enjoy the season to the fullest while remaining financially responsible. By planning ahead, giving thoughtfully, living within my means, and saving, I manage to overcome the common traps of overspending. Each year, I strive to better my approach, ensuring that the joy of the season does not come at the cost of my financial stability. I don't have to break the bank before I can be responsible👌

My response in the #hiveleaners edition two on the topic: YOUR FINANCES.

The images are mine.

Merry Christmas to you all!
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