Hi everyone, it's a good time to say compliments of the season with Christmas and New Year fast approaching.
On many occasions we have seen people celebrating Christmas and New Year, and in January, when the year is just beginning, some are in debt and others are broke from doing too much during the festivities.
One of the reasons for this is that a lot of people have been working throughout the year, and the only time they have to spend with their family is the festive period, and so you see a lot of people traveling to their hometowns to be with family.
As a student of economics, I understand that when demand for a particular good or service is high, then the price will increase, so with numerous people trying to make it back home to their families, the price of transportation increases.
Food commodities also tend to increase in price, and for a lot of people going home trying to impress, they would do anything to make sure they impress both members of their immediate family, friends, and others.
By so doing, they spend without planning their expenses, and this is the reason why a budget is important because there's life after the festivities, and the people you were trying to impress would not be there during a downturn.
For me, celebrating within a budget is most important, which is the reason why I won't be traveling this year because I found out that the cost of traveling is about half the amount of my house rent.
A man once said that he found out it was cheaper for him to send his family on a vacation without going with them than for him to travel with them because it's easy to place them on a budget, but when he's with them, they want to drag him into buying things that they wouldn't buy when they were on their own and on a budget.
Disclaimer: this is not to say that a man should send his family on a trip without coming with them.
Budgeting in this festive season is going to make me not try to impress anyone because sometimes the people you want to impress don't even care.
With the new year approaching, house rent and other expenses will be waiting, so wisdom teaches me to handle important financial commitments in order not to be taken unaware.
One of the biggest secrets of the rich is budgeting. You see, some rich people tell you, "I don't have money," and yet they just put some huge amount of money into an investment or something, and this is because they have a budget for that, and the current issue wasn't part of the budget.
So preparing for the festivities, I am going to make a budget for the things that are necessary, but a budget without discipline is nothing.
So I will discipline myself to make sure I work within my budget in order to avoid regret.
I am using this opportunity to once again wish you a Merry Christmas and a prosperous new year in advance 馃鉁岋笍.
Thanks for stopping by.
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