The big babes and boys are already hearing the sound of Detty December because once we enter the “ember” months, you already know December is in sight. And over here, you can count on us not to get in the way of your enjoyment.
If anything, we exist to take that enjoyment to pro max. Winks. IYKYK. But before the invites start flying, tickets start selling and “abeg, let’s just go” becomes your favourite phrase, it might be a good idea to get your money ready too.
So, here are five ways to prepare financially for Detty December without making January pay for December’s enjoyment — or spending all the money you’ve been saving since January.
1. Know What Your December Is Looking Like
First things first, figure out what you actually want to spend money on.
Maybe it’s a couple of concerts, your friend’s wedding, a few dinners, a trip home, new outfits, gifts or accommodation. Whatever your December plans look like, write them down and estimate how much each one will cost.
If everything comes to about ₦250,000, you now have a savings target. That’s much more useful than simply telling yourself, “I need to save plenty money for December.”
And if keeping track of all those expenses starts getting complicated, the budgeting feature on the OneBank app can help you plan your spending and stay on top of your target.
2. Start Saving Before December Starts
Once you know how much you need, don’t wait until December to start looking for the money.
For example, if your target is ₦250,000 and you have four months to prepare, you’re looking at about ₦62,500 a month. Give yourself more time and the monthly amount becomes even smaller. The idea is to spread the cost over time rather than putting yourself under pressure when December finally arrives.
You can also take the discipline out of saving by using Sterling Recurring Deposit Account (SRDA) to automate your savings. Instead of relying on whatever is left at the end of the month, you can have a set amount put aside consistently towards your goal.
That way, December doesn’t have to compete with all your other spending for the same money.
3. Give Your December Money Its Own Space
One of the easiest ways to lose track of your December budget is to keep it in the same place as your everyday spending money.
You know how it goes. You need ₦10,000 for something today and tell yourself you’ll replace it next week. Then another expense comes up, and before you realise it, the money you were saving for December has become your general spending money.
Keeping your December savings separate can make it easier to leave them alone and know exactly how much you have available when the festive season arrives.
4. Keep an Eye on the Small Expenses
Not every expense in December will feel like a big one. That’s exactly why they can be easy to overlook. An outing here, a ticket there, transport, food, drinks and the occasional “let’s just do one more thing” can quickly add up.
This doesn’t mean you need to spend your December calculating every Naira. It simply means you should know how much you’ve spent and how much is left from your December budget.
If you’ve set aside ₦250,000, for instance, keeping track of your spending can help you avoid discovering halfway through the month that you’ve already used most of it.
5. Don’t Borrow Your Way Into December
The easiest way to make January miserable is to spend money you don’t have in December.
It can be tempting to think, “I’ll just borrow now and sort it out next year.” But January will still come with its own bills, responsibilities and expenses. You don’t want to spend the first few months of the new year paying for a few weeks of December fun.
If an event, trip or purchase doesn’t fit your budget, adjust the plan. You don’t have to attend every event or say yes to every invitation.
The goal isn’t to spend the most. It’s to enjoy the things that matter to you without creating a financial problem for yourself afterwards.
Detty December, Yes. Debt January, No.
