Do you earn less than N100,000 a month in Nigeria of today? Stay glued to this article as i bring you some economical budget for Christmas in 2019. Christmas periods comes with loads of tempting expenses to make from personal needs to extended family needs as well as religious responsibilities/obligations. But you need not to worry as there is always away round every challenge.
Emeka who was once a teacher usually spends beyond his means as far as festive periods were concerned but over time, he discovered how that his next door neighbour never complains in January or May after Christmas or Easter celebrations. This observation pushed Emeka to confined in his neighbour about his lack of financial intelligence. After so much discussion with his neighbour, Emeka discovered that his neighbour was a man who had high sense of responsibility for the sake of unforeseen events. His neighbor was a fierce saver of funds for emergenciees and future needs.
Emeka was motivated to start small in setting aside little money per month even before festive periods came. The next Christmas after practicing savings, Emeka had quality fun and still had a good amount of money saved up for January. He didn’t live in lack and want anymore.
Christmas celebration is fun and lovely but when finances are not properly managed in that regard, it leaves you bitter and frustrated at the end. It is wisdom to have a budget that fits your salary scale. Do not plan for celebrations beyond what you earn.
If your salary is less than N100,000 a month, below is a friendly budget plus a saving plan you should have in mind. You can adjust this budget though depending on your location of residence and family size but remember that setting aside something tangible for the next year is very important.
|Savings||N30,OOO – N70,000 (Minimum)|
|Food Items||N10,000 (Maximum)|
|Outings/Fun Catching||N5,000 (Maximum)|
|Clothes To Wear||N 0.00 (Wear what you had before now)|
|Total expenses excluding savings||= N15,000|
Considering your salary scale, it is expedient that you take a second wise thought and spend far below average of your total income in a month this Christmas because it is just for a day. Just like i stated above, you can adjust the figures in the table considering your marital status or family size and responsibilities but you also need to give high preference to the place of savings. This method of budgeting will help you live well financially most of the time.
What do you think about this Christmas budget template? Share your views by commenting.