This archive report was first published on 6 December 2019.
As the holiday season sets in, many of us are tempted to splurge on gifts, travel, and other festivities. However, this can lead to financial strain come January. To avoid this, it's essential to create a budget and stick to it.
According to Christine Moraa, a 28-year-old M-Pesa attendant, she feels pressured to buy gifts for her family during Christmas. 'My relatives back in the village expect me to surprise them with gifts when I visit them during Christmas, and I feel pressured to do so,' she says.
Paul Ngunyi, a psychologist and author, advises that individuals should only offer their loved ones gifts that are thoughtful and meaningful. He also suggests that gifts don't have to be material things.
One of the best ways to stay within your holiday budget is to leave your credit card at home when going for shopping. This will help you avoid the temptation of picking more items than you had budgeted for.
With technology, it's now possible to compare the prices of different items online. You can look around for the best bargain and avoid overspending.
Another way to celebrate the holiday season without breaking the bank is to find alternative ways to show your loved ones you care. You can spend quality time with them, make handmade cards, or learn a new skill together.
As Paul Ngunyi advises, 'gifts don't have to be material things.' You can offer your loved ones thoughtful and meaningful gifts that don't have to cost a fortune.
Finally, it's essential to plan ahead for next year's holiday season. You can set aside some money each month since January and open a fixed deposit account for this purpose.
