Keep your finances in check this festive season

In this article, we at some of the ways one can keep their finances in check as they go about the Christmas season.

First, have budget.

Yes, budget. Budget. Budget. This will help you have limits to your spending. However, it is also important to note that one’s budget should reflect what they can afford to spend on – things within the reach of their budget.

Avoid borrowing

When in sight of people having fun, it becomes easy for one to want to have what they are having. This usually drives people into spending beyond their budgets or even borrow money to spend. People should avoid this as it will leave them financially crippled.

Eat homecooked meals if that’s what you can afford

Cooking at home is one of those ways one can save a penny or two. It is therefore recommended that one does so if they can’t afford the luxury of eating out in expensive restaurants.

If you have a family, lay a plan on how to celebrate

As a family head, you would want to see your family during this time. It is therefore important for one to have a plan on how to celebrate during the season. This will help you plan for the finances better.

Avoid unplanned activities

Because of excitement, one can easily find themselves going for activities they hadn’t planned for. Avoid this as it will likely lead to more unplanned for spending.

If traveling, plan earlier

Many people travel during holidays within or outside Uganda. If you plan to travel, its much more safer to plan early enough to avoid more spending as a result of frustrations that may comes as more spending due to poor planning.