BusinessLife

How To Avoid Being Broke In January

It is December, and there is a tendency to splurge. Although I do not support the idea of a “Detty December” (my December is sanctified in the name of Jesus), I believe that December is the month to loosen up a little. Regardless, we still need to make sure to avoid being broke in January.

December is the month to loosen up a little. Regardless, we still need to make sure to avoid being broke in January. Click To Tweet

It has been quite a year (Omo! COVID gave us more strains) and everyone deserves to flex the Yuletide. To put it in more contemporary terms “you want to bamba, you want to chill with the big boys”. But with all your plans to flex, there must be a reminder that January typically has ninety days for those who earn a salary. 

So, below are some tips to help you to avoid being broke in January:

1. Avoid Unnecessary Outings

Typically, December is a period to spread joy and laughter. But most times this joy and laughter comes with ‘heavy billing’. So, if it is not so expedient to go out, it would pay you more to spend time with your family indoors.  

With the Omicron strain of the Coronavirus moving around, it is just wise to limit movements to the barest minimum. For those who stay alone, you can get creative with making sure that your space is fun packed this season. 

For those who stay alone, you can get creative with making sure that your space is fun packed this season.  Click To Tweet

This point is especially for those who live in a metropolitan city like Lagos, there are usually enticing shows at every turn in the month of December. There is a possibility of spending all your money on show tickets, if you do not place restraints on yourself.

2. Plan your Giving

December is a time for largesse. It is the time of the year when we remember the less privileged around us. But as noble as it is to give, you should try not give at the expense of yourself. It is very possible to go from being the “Father Christmas” in December to being the welfare case in January. To mitigate this, you must plan your giving. Therefore, make a list of those you intend to ‘bless’ this season and how much you intend to give to them.

December is a time for largesse. It is the time of the year when we remember the less privileged around us. But as noble as it is to give, you should try not give at the expense of yourself. Click To Tweet

3. Set Money Aside

Whatever you want to call it (emergency funds, saving, etc), it pays to set some money aside to avoid being broke in January. This money is what you would fall back on when the euphoria of the season wears off and the realities of the new year kicks in. If you have not already, please set aside some money for the month of January.

4. Lookout for Discounts and Giveaways

If you are on the lookout, there are always those businesses that give huge discounts in December. It would help to cut back on the expenses to find such businesses and patronize them. Any price slash is an added advantage and means you get to spend less in preparation for January. 

If you are on the lookout, there are always those businesses that give huge discounts in December. It would help to cut back on the expenses to find such businesses and patronize them. Click To Tweet

I am actually not a finance expert, but based on my personal experience, I know these tips work. Whatever you do, avoid being broke in January. My finance people, what did I leave out? Please let me know in the comments section.

You can also read “Common Sense Finance Principles for the Believer“.

About author

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A man helped by God, who tells evocative stories.
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