Christmas is a time for enjoyment all over the world, But you see for us in Nigeria, it is extra Enjoyment, which is why we call it (Detty December), It is a time of premium fun and partying from all the previous months of hard work. Detty December causes a lot of financial pressure in January due to the amount of money spent on enjoyment during the festive season.
- Detty December: A term used in Nigeria to describe the festive season, typically from mid-December to January. It is characterized by parties, celebrations, and increased spending.
- Sapa January: A term used in Nigeria to describe the financial difficulties, a state of financial incapacity or extreme poverty, often resulting from excessive spending and poor financial management.that many people experience in January after the festive season.
Challenges of Detty December
- Increased spending: The festive season is a time when many people spend more money than usual on gifts, parties, and travel.
- Peer pressure: There is always a social pressure to spend money in order to keep up with friends and family, especially the rich one’s.
- Temptations: There are many temptations to spend money during the festive season, such as Promo sales, clearance sales and many more forms of promotions.
We at Bizwatch Nigeria are going to be providing you with some tips on how to enjoy your Detty December while saving up for Sapa January.
Strategies for Enjoying Detty December While Saving Up for Sapa January
- Save your November salary: The sooner you start saving for Sapa January, the easier it will be to manage your finances. Save your november salary, Make use Of your savings to finace this little period before the holiday. Do not touch your November salary.
- Set a budget: Before the festive season starts, it is important to set a budget for your spending. This will help you to stay on track and avoid overspending.
- Look for ways to save money: There are many ways to save money during the festive season, such as cooking at home instead of eating out, shopping for gifts in advance, and taking advantage of sales and promotions. Most sales companies will either still be running black friday sales or have started their christmas sales, Shop for gifts in advance to avoid the high prices when christmas becomes close
- Avoid Debt or Using credit: Using credit to pay for holiday expenses can lead to debt problems in the new year. Don’t Collect anything on credit or do anything with the hopes of paying back later. Do not take any form of debt into the new year.
- Prioritize your spending: Decide what is important to you and allocate your spending accordingly. For example, get a list of the thngs you want to do, places you want to go and things you want to buy. Prioritize them from the most to the least,compare them with your budget and you will start to realise their importances and the things you can do without.
Additional Tips
- Set realistic expectations: Don’t try to keep up with the rich ones that you know. Everyone has different financial situations, Know your pocket and the weight it can carry if not your back will carry it.
- Be honest with yourself about your spending: Track your spending to see where your money is going, don’t lie to yourself, don’t play tricks on yourself about your spending habits, you are the one that will bear the pain later.
- Seek help if you need it: There are many resources available to help you with your finances, Such saving platforms, traditional and modern, save money in piggyvest, cowrywise and other savings platforms, write your passcode and password on a paper and delete the app from your phone to save yourself or Put money inside your savings box or ziplock and bury it inside a flower pot or vase. Go the extra mile.
Conclusion
It is possible to enjoy your Detty December while saving up for Sapa January, You have to be mindful of your spending and make smart financial decisions. If You don’t, you will cry and sweat to sleep, and still cry and sweat when you wake up. Avoid financial stress and start the new year on a positive note.
