How do you budget for year-end celebrations? Do you start side hustles or you're relying on your savings? Share some tips on how to budget for the rest of the year
The year is gradually coming to an end as we have one month to go. At the moment, people are already putting things in motion that will allow them enjoy the holidays to the fullest with their families and relatives. Everything requires funds, money to be able to carry out a befitting ceremony, especially in my country where the prices of goods have doubled, and the fiat currency is so undervalued and inflation is on the rise, so everyone need to work so hard to make it up.
budgeting as an essential part of financial planning is necessary for the year-end celebrationsis and these are both dependent on my savings and also on a side hustle. This is the period where you can start a mini business, one is has to do with Christmas activities especially children because this is the period they all want to buy Christmas toys, Christmas caps, clothes, shoes, glasses and so many more, the period where they want to attend Christmas parties and see santa-claus. As parents, it feels like one great thing if we can accomplish this feat.
Concerning a side hustle business that would bring in profit as a Christmas sale, the idea is to deal in children clothes, beautiful dresses for the girls like barbie gowns, skirts, tops belt and so on. For the boys, we sell shirts, trouser, singlet and so on. From the market survey recently , children's stuffs are quite expensive and they sell fast. For this side hustle, I intend to do, by creating an online presence with a flier that proposes what I am selling. It not a great idea getting a store now but I liased with a fellow woman who allowed to share a part of her space in the market.
This would have not been possible without getting a soft loan from a cooperative organization and I intend to make the best use of the opportunity by making good profits.
Another way, I am trying to earn a decent living that would be enough for the year end celebration is by been consistent on hive blockchain and the INLEO platform, to create contents by blogging and engaging at least everyday with the hope of getting something tangible. It can be really slow at times but it's better than not trying at all.
In view of this these are the ways I budget, the idea is not to spend beyond what I can afford, all I need do is to spend time with my family, buy foodstuufs and do the cooking. This saves the cost of eating out at an expensive restaurant. Over the years, I have come to learn that, the way you spend for Christmas will determine how the first month of the new year will be. This is why, people are always so broke especially here in Nigeria because they spent money in a frivolous manner during the festive period.
I create budget based on my financial capacity. This simply means I create realistic budgets that can be met with my finances. For instance, if the festive period is to be spent in another location, I set aside funds to cover up my transportation, feeding, housing and even entertainment. I really do not like to borrow monies except it is very important, I try to maintain my financial lane and not go pass my boundaries.
monitor your spending, everyone is managing their funds, be careful not to be a burden
make plans for the future, December will come and go, the festive period will pass also. Keep funds for after that period.
to save costs of stuffs, you can go for more reliable and cheaper stuffs. Like going to that market rather than the supermarket so you can price down and even save more than expected.
Finally, while people engage in several means to be able to cater for financial stability during the festive celebration, other engage in business that brings good profit at this time.
This is my entry for the 
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Merry Christmas in advance 🎄🎄🎄