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Ten Budgeting Tips for December 

Victor Odogwu
Published: December 2, 2023

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December Budget Goals Image of coins in a transaparent small bag, coffee in a red mug, notepad with BUDGET written on it, a black pen and a calculator on a table

December in Nigeria is the month when everyone goes on a spending frenzy. There is Christmas shopping, New Year spending, or people just looking to dirty their December and party like there’s no January. Whatever the reason may be, December is the month when some of the most financially savvy amongst us throw our financial wisdom out the window.   

Well, let’s change that with these quick tips that’ll not only help us enjoy our December but also prepare for the January after. 


 Set a Realistic Budget for December:

Determine how much you can comfortably spend out of your salary or profit without compromising your financial stability. Consider travel expenses, gifts, food, and entertainment.  


 Plan Ahead for Expenses:

Make a list of all anticipated costs, including gifts, travel fares, accommodation, and food. Start saving for these expenses early on to avoid last-minute financial stress.  


Avoid Impulse Buying:

Stick to your budget and avoid spontaneous purchases. Consider making a list before shopping and prioritize essential items.  


Embrace Homemade and Personalized Gifts:

Get creative with gifts. Handmade or personalized presents often carry more sentiment and can be more budget-friendly than store-bought items. Also, you may want to consider impressing with unique gifts instead of the expensive options.   


Explore Discount Offers and Sales:

Take advantage of discounts, sales, and promotions during the holiday season. Shop strategically to get the best deals without overspending. I mean, it’s December, everyone is doing a Christmas promo, so take advantage.  You can check out Altmall for the best deals in town. 


Travel Smart:

If traveling, plan your trips in advance to secure affordable transportation and accommodation options. Consider traveling during off-peak times to save on expenses. In this fuel price hike times, this should be a general practice.   




Limit Party Expenses:

Celebrate mindfully. Consider hosting potluck-style gatherings or budget-friendly activities instead of costly parties. This can help cut down on expenses while still enjoying the festivities. Simply put, party without “Dohrimeh”.  


Track Your Spending:

Keep a record of all your expenses throughout December. This will help you stay accountable to your budget and identify areas where you might need to adjust.  


Prioritize Financial Health:

Don’t neglect your financial goals and responsibilities amid the celebrations. Ensure that bills, loans, and other financial commitments are taken care of before splashing your cash on non-essentials.  


Reflect and Plan for the New Year:

Take time to reflect on your spending habits this season. Use these insights to create a financial plan for the upcoming year. Consider setting achievable financial goals.  


You have worked hard from January to December. Yeah, it’s good to play hard in December, but ending the year richer has its own satisfaction.  

By planning ahead, sticking to a budget, and making smart choices, you can enjoy the celebrations without compromising your financial well-being.  

For more on budgeting, download OneBank. The budget feature will help you track your expenses and save you from overspending this holiday! 




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