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7 ways to avoid January financial blues (if you didn’t plan early)

So, Christmas is here and most people are about to go on a spending spree. Already, most employers have paid their employees January salaries. And while most will not disclose, they have chiseled a huge chunk of their pay – even before Christmas Day.

It’s always advisable to save earlier in the year so that you do not find yourself using the December salary during the festive season.

If you did not take up this advice in 2017, consider starting early in the coming year.

Below, though, are tips on how to make January hay while December sun shines:

1. Draw a budget and stick to it
You have found yourself in a situation where you have to have fun during Christmas and New Year and still go through the 48 days of January. It is advisable that you come up with a realistic budget, which ought to be drawn to the last coin. Ensure that you stick to it.

2. Don’t punch above your weight
Ensure that you only buy what your financial situation can support. For instance, if you are with a group of summer bunnies shelling out tens of thousands of shillings buying whiskey bottles, don’t try to match. My friend, stick to your lane and buy Konyagi or what it is that you are used to.

3. Ignore some calls
There are friends you know their intention whenever they call at various times. If you know picking John’s call at 5pm will definitely lead you to the local, it’s okay to ignore it and call back three hours later with a lame excuse. Of course, you should keep checking your messages just in case he was sending an SOS.

4. Offer to work
Is there that one colleague whom you know is disgruntled working over Christmas or New Year? Is it someone who can kill to get the week off? I know a few people who actually make an extra Sh30,000 just working for other people. There are companies that pay overtime to staff who work over the festive season.

5. Think of feasible income generating opportunities in January
This is unique to every individual. You can go through your contacts to see who can offer you some gig that can give you an extra coin.

6. Don’t be an angel
It’s okay to be mean. Lending to friends will leave you with an avoidable dent in your finances, making a bad situation worse.

7. Be wise
Marketers have engaged the overdrive pushing their products on various media outlets. The catch is it is designed to look like a bargain. For instance, you do not need to buy a new TV set in December if you already have one, just because it is Sh5,000 off. Be smart.