5 steps to avoid going broke this Sallah holiday
It’s that time of the year again!
It is a few days to Id el Kabir; one of the many holidays we observe in Nigeria. There will be lots of places to visit and loads of spending to do in these 2 days. As usual, it is expected that many may go broke after the enjoyment that comes with the season.
So, we’ve put together some tips to ensure that you enjoy your holidays without paying for it for the rest of the month!
- Start with a spending plan: Your goal is to come up with a spending plan that won’t put you in a financial straitjacket. How much can you allocate from your savings or income to make the holidays work? Beginning with that end in mind will help you avoid runaway spending and the ultimate misery it brings. Remember, your spending plan is not a suggestion, it’s a fixed number.
- Be prepared: What can be worse than going to a restaurant with N5,000 in hand and finding out just one bottled water costs N2,000. There are a number of avenues to find out prices of food and activities before getting to the place. Don’t be blindsided by the cost.
- Beware of extravagant friends: We all like to catch up with friends during the holiday. Now that you have your spending plan, it is important to know what engagements to ‘miss out on’ or you can simply suggest a cheaper alternative. In our experience, no one likes spending more money than they need to, so it shouldn’t be a hard ask.
- Beware of leeches: This is a little similar to point 3, except in this case they want to feed off your budget. There’s no need to cut them off completely during this period, but be wise enough not to spend more than budgeted.
- Stick with your plan. You’ve devised a personal plan to provide maximum enjoyment with minimum stress. So enjoy each aspect to the fullest degree possible.