Yuletide: What is the right budget?

What all these have in common is that aside from fun for most people, these festivities come with it attendant financial burden and it is not unusual that when January comes, many most have celebrated their way into debt. LIFEXTRA sought opinion on just how much budget is enough for the season? Chukwuka Nwabueze said […]

What all these have in common is that aside from fun for most people, these festivities come with it attendant financial burden and it is not unusual that when January comes, many most have celebrated their way into debt.

LIFEXTRA sought opinion on just how much budget is enough for the season?

Chukwuka Nwabueze said that the times we find ourselves in Nigeria is when everyone should save for rainy day.

He said “I have four kids. Next year, we would be talking of school fees. We all know how that gives a huge blow to many parents. I won’t push myself beyond my limits, and then later suffer the consequences.”

On his yuletide budget, Chukwuka said “I have decided that we are not travelling this Christmas, as that would only bring more expenses. So, what I and my family will do to mark the day is cook a family meal, and later go out.”

He added that, it is pertinent to remember that house rent is lurking around the corner “and no landlord want to hear excuses because they also have expenses” Chukwuka said with a grin.

Cindy Moses, a banker said: “I already advised myself not to spend more than I can afford.” She explained that in previous years, she buys a bag of rice and other ingredients for her parents, which she intend to do but not like before.  

She said: “I sometimes even host my friends and colleagues when I don’t travel, just to celebrate the yuletide. But this year, I will be on a low key and save for next year.”

Not everyone feels the yuletide should be a low key affair. As Nike Oyewole said: “I won’t allow anything spoil the Christmas for me and my children, we intend to have fun. Christmas is a time to merry, a once-in-a-year event. You have to celebrate, especially the fact that you are witnessing the end of another year.”

She emphasised that “no economic problem, recession or whatever they call it, should hold you from celebrating. I will celebrate and by God’s grace still have the means to meet up with the expenses for next year. The key is to plan well,” Nike proffered.

Should the impending New Year bills stop one from celebrating? Jude Obinna, simply said, “After the yuletide, January is generally known to be a dry month, as people have spent and are broke. But that shouldn’t be, because we can all celebrate and still have enough finance left for the next year.”