It is not a surprise anymore that many people go into debt in the first month of every new year, and this is because they did not plan their expenditures properly before entering the festive period. It's a season of celebration, and a month people get paid much more, and this has led many people to think their resources (funds) are limited for that much because they get what they want without thinking.
Now, the reason many people go broke in the month of January of each new year is because they do not think about the month of January and they all feel it in the next year, so "Next year will take care of itself," and when the new year comes, they begin to struggle just to get through and also accumulate a certain amount of debt.
"Hello, My name is FashTioluwa, and I am welcoming you to my blog page. It is nice to meet you, and I will tell you a secret: I am from Mars. So let's get back to what we were discussing."
I was once a victim of always going broke every January, even when we were paid a higher amount of salary in December. How did I put a stop to it, you ask? I will explain everything to you.
The first thing I did was make up my mind and see December as I see every other month. What are the things I wouldn't do normally every other month that don't require me to go out of my way too much to satisfy my wants or other people's wants? I took those out; I don't give out money unnecessarily. I am not Father Christmas, so let's all be adults and own our celebration money.
I try not to borrow anyone's money as of this period. I try not to borrow unnecessarily just because I have it. "I am sorry, I do have the money, and you don't plan to pay anytime soon. The money has a budget and that's all I can say.'
It is as simple as that. I also make sure to save 40% of my salary for January while I spend the rest. I wouldn't say because I don't want to go broke in January, so I shouldn't spend at all in December. Fun fact: everyone in my home gets a share of funds from me. Little things matter a lot too.
I try to budget everything I would be getting in December and not buy things out of budget; this would help me save more in December and have more to spend in January.
I have been doing this for a while now, and it has helped me a lot. This is the trick I use so I don't get broke in January because if I spend unnecessarily in December, I will have to be the one doing the begging in January.
I hope you have been able to learn from what I wrote. If you did, then I am glad... I remain FashTioluwa. Let's have a good conversation in the comments. Thanks for reading. #hivenaija