By Clement Abayomi
As November ends, December begins with excitement and festivities. But it also presents a serious temptation to overspend. Care must be taken to avoid starting the new year with debts, empty savings, and regrets. If you don’t carefully plan as the festivities intensify, you might end up really “dirtying” yourself during (and after) the Detty December.
Managing your finances throughout Detty December is not about refraining from pleasure; rather, it is about making deliberate decisions that enable you to enjoy the season without spoiling your January. The following reveals various ways you can manage your finances during the Detty December.
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The smartest starting point is a thorough review of your accounts. Credlanche explains that many people wait until January to assess the “total damage they have done to their finances”. But taking steps early helps determine what can be spent without experiencing emergency funds or accumulating debts. Therefore, dedicate an hour to draft a clear December budget and set limits for each expected activity(ies). With this, you can control your spending. Credlanche also recommends raising additional cash by selling unused items online, an easy way to increase one’s budget.
To avoid the typical December overspending, one must be realistic with one’s expenses. Sterling Bank warns that December often makes even the most prudent individuals forget their financial discipline, urging people to calculate how much they can comfortably afford for travel, gifts, food, or entertainment.
The Nigerian Tribune highlights this approach by advising people to list their expected expenses and record every transaction, stressing that without monitoring, one can “overspend what you have or run into debt.” A written record, and “not a mental one”, helps ensure consistency and prevents budget deficits as the celebrations increase.
Enjoying Detty December doesn’t require reckless spending; instead, it calls for intentional prioritisation. Credlanche introduces a principle: the First In, First Out principle, which means attending or paying for the most important events first and declining additional ones once the set limit is reached.
This helps to prevent spreading oneself thin across too many outings. To further cut costs, Credlanche encourages thoughtful gifting through DIY presents, shared gift exchanges, or experience-based gifts. Sterling also notes that personalised presents can be cheaper and more meaningful.
Besides, rather than constantly stepping out to expensive outings, the Nigerian Tribune reveals that one can save money by organising home-based activities, which are often cheaper and just as enjoyable. Hosting potluck gatherings, as Sterling also advises, allows people to celebrate without bearing the entire cost of feeding or entertainment. Staying indoors to watch films, cook, or relax can also reduce expenses because, as the Tribune states, “outside is expensive.” Simple home enhancements, preparing low-cost meals, and sticking strictly to one’s budget help maintain the December festivities without causing financial ache!
Moreover, travel remains a major expense during the holiday period, and it is advised that one treats it with careful planning. Sterling suggests that one can book trips early, search for affordable transportation, and travel during off-peak periods, especially considering the present fuel price challenges.
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Meanwhile, the Nigerian Tribune encourages exploring alternative adventures such as road trips, local getaways, new crafts, or trying out long-saved recipes. These options can make December experiences fulfilling without the weight of high travel or restaurant bills, ensuring that enjoyment does not come at the cost of financial peace.
In conclusion, Detty December is sweet, but it should not scatter your finances. Once you set a budget, follow your priorities, and look for cheaper but fun alternatives, you can still have a great time. That way, you enter January smiling, not regretting.
