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Avoiding festive season financial strains

Last month, a close cousin of mine made my day. It was his birthday and as usual, I sent him a bottle of wine; non-alcoholic wine. I had somebody drop it at his house since I had other errands to run.

That same day in the evening, he asked me to visit him as a matter of urgency. “Mukamabwera mungondigulirako uwiri, ine galimoto yawonongeka mafuta; I mean ndilibe mafuta,” he spoke in a voice that was more commanding than otherwise.

As expected, I rushed to his house. I found him on the lounge looking so dejected. “Bwanji achimwene?” I asked fearing for the worst response. “Akulu, kupatula madzi mwatumiza inuwa, anthu akungotumiza ma text ndi ma Facebook messages a happy birthday basi.” “So what’s the problem?” I asked trying to understand more.

He looked puzzled at my lack of empathy. “Akulu, inu kodi nthawi zonse pa birthday yanga simumandipeza ndili ndi anthu tikumwa mowa?” He quickly chipped. I got his point—he didn’t receive as much gifts from friends and family—especially beer gifts.

There were no gifts to show and with the passing of the day, it was unlikely that anybody would pop-up with any remnant gifts.

The times are particularly hard for many people this year. This is partly due to inflationary pressures that have built up especially now that Christmas and New Year festivities are approaching.

This coupled with the forex and fuel challenges, which I am sure government is working hard at resolving, makes the road ahead look bumpy. So what does this tell us about our finance management behaviour during the festive season?

Take a long and deep breath before you can spoil yourself, friends and family—of course do enjoy life for its own sake, but to a conscious limit. You see, if you sometimes drink your head off, this is the time to reflect on your over-limit line.

I have some free advice for you. The tradition of overspending and excessive gift buying during Christmas and New Year can leave you indebted, frustrated and disappointed. Spending too much during any festive season can create misery. But doing it this year will simply murder you.

For people on low incomes or tight budgets, Christmas can be a difficult time of the year. As Christmas is hours away, our thoughts could be on celebration and gifts. Most of us enjoy family gatherings, meeting friends and exchanging presents, but unfortunately, in our modern society, Christmas comes at a price.

How can we then ensure that our spending does not get out of control during the festive season? Just three pieces of advice:

First, don’t borrow money to spoil yourself, friends, and family unless you have determined the ease of its repayment. In the current economic hiccups, repaying credit might be more difficult than in the past.

Second, have enough fuel in your tank—not for trotting to different drinking joints—but accidents do happen during festive season and you don’t want to be found destitute when a family member or friend needs urgent help.

Lastly, consider not eating out on Christmas day or New Year’s. A home-cooked meal costs much less and is much tastier (and healthier) than a restaurant meal. Or better still, just go to your local prayer house and fast on Christmas and New Year’s Day, but fast alone without forcing your spouse and children to join you.

Have a blessed worry-free Xmas and prosperous New Year!!

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