The festive season is lurking around the corner, who doesn't love Christmas, the holiday season, and all the excitement that comes with the season, with all that excitement, it's easier to get carried away if you don't plan early, especially when it comes to your finances, Christmas season is the apex spending month of the year as we get to meet families and friends we haven't seen in a long while, also sharing gifts and getting ourselves too is a common activity during Christmas, if you have children, Christmas clothes, shoes and probably to vacation to have a fun time with your family are all plans we look forward to during Christmas. But if you don't plan well he's of Christmas it is easy to run into hangover debts by January, and you keep wondering wasn't it the same you that had more than enough during the festive season, where did all the money go to, the money did not disappear by magic, rather you didn't plan well and you let the heat of the excitement take over, the reason I'm here to remind us early on to remember to stay focus and take charge of our finances, even during Christmas, and you know what, it's never to early to plan your finances ahead of the festive season, The good news is that With a bit of financial planning, the ‘Christmas debt hangover’ can be avoided and see yourself still have peace of mind about your finances in the new year.
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Financially Preparing for Christmas the Right Way

1 Early Planning

Remember where I said it's never too early to plan for Christmas, depending on your income and expectations during Christmas, if you wish to go on a vacation with your during Christmas and know your income won't afford you that family time, a lot of people start preparing by saving a token from their I'm one as early as January, that way there is less strain on their finances and they can still afford the vacation by the end of the year, the money didn't come at once, it was gathered over time and this method if planning and saving ahead has helped most families stay afloat debt.

2 Budgeting

It is easier to get carried away in the heat of excitement of the season and just spend as you go neglecting that it could lead you into debt, this is when budgeting comes in, make sure to create a budget according to your means that will allow you something left for saving, and it's not only about creating a budget, being disciplined about sticking to your budget is very vital as well, creating a budget without sticking to it is same as not doing anything at all. This might seem difficult to do especially in the festive season, and that is why being disciplined about it is important.

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3 Take advantage of online shopping discounts and freebies.

Just before the festive season, some online shops even some physical stores organize black Friday deals where they slash the prizes of most items we would need during the festive season, you could look out for these deals early on and take advantage of them, as it helps us save cost, rather than buying same items at a higher price, also take advantage of goods with freebies, not the ones that still have hidden charges, as this ones aren't free but cognitive way of deceiving us, there are some genuine stores that offer freebies, all for the love of Christmas.

4 Don't stop paying your bills

Some individuals take advantage of the fact that they have a lot of commitments during the festive season to skip paying their bills even if they were paid early, this is a wrong financial decision to take as the bills get rolled over and doubled the next month which we find it difficult to meet up with, rather than put your bill payment on hold, why not run an opportunity cost and see the activity you can forgo so you can still afford to pay your bills, you would be glad you did in the forthcoming month when all the excitement has died down.

5 Plan and buy in bulk early

In my country Nigeria, it is always 100% expected for the prices of things to skyrocket during the festive season, ranging from food, clothing, drinks, gadgets, etc all these are part of what we need during the holiday season, so instead of waiting for Christmas to come before you start purchasing shot you need, why not buy them the month or few months before December, especially non-perishable items, making sure to check their expiring date, this helps you stay organized, ahead and also avoid the high costing during Christmas, hence you save more.

6 Plan for next year now

So you are all focused on Christmas, spending, having fun, and all, there is nothing wrong with that, but have you considered saving for the new year? If you haven't it's best to start now, it is common to hear people complain about how January is so dry, the same people who ate in full during Christmas are now starving by January because they didn't plan ahead of Christmas, while engaging in all the fun the end of the year brings, remember to spend wisely, don't go beyond your limit, some people even borrow to impress friends and family, if you can handle paying back without too much hassle on your finances, fine, but if not, stay clear of debt and only do that which you can afford, not forgetting that life moves on after Christmas.

Conclusion

As the festive season approaches, it's essential to approach it with financial mindfulness. The excitement of Christmas and the desire to share joy with loved ones can lead to overspending and January debt hangovers. By adopting early planning, budgeting, and taking advantage of discounts, with thoughtful financial preparations, one can enjoy the season without the stress of post-christmas financial burden also compromising financial stability.

Thank you for reading❤❤