Christmas is a time of joy, love, and celebration. And you don’t need a big budget to make it worthwhile.
Enjoying Christmas on a low budget is not just possible, it’s also a chance to unleash your creativity, experience the warmth of family, and make beautiful memories without breaking the bank. Let’s dive into the world of budget-friendly Christmas expenses and discover how to make every moment sparkle without a hefty price tag.
DIY Decorations
- This Christmas, get crafty, and engage your family in a fun activity of creating handmade ornaments, wreaths, and Christmas decorations, using paper, ribbons, and recycled items.
- You can use paper crafts as Christmas tree decor, or use old CDs to make Christmas ornaments, among other things.
- You can scour the internet to get tips on how to make DIY decorations.
Utilize Discounts and Sale Offers
- Keep an eye out for discounts and sale offers during the Christmas period. When you go to shop at your favourite supermarket and shopping centre, request the discount offers that are available during the Christmas period.
- ECommerce platforms also offer sale offers during Christmas, for example, Jumia is offering “Choplife Christmas”, while Konga is offering the “Konga Jara Christmas Sale.”
Limit travelling
Considering the current inflation rate in Nigeria, plus other macroeconomic conditions, the transportation sector has taken a big hit, and this is expected to trickle down to the final consumers.
Adetola Freeman, Regional Analyst for FBS Africa, noted, “People should cut down on movements, and spend more time with the people around them.”
Opt for Free or Low-Cost Activities
- This is December, the month of festivities embellished with quite a number of concerts and events, however, it is more advisable to cut your coat according to your size. One of the ways you can enjoy Christmas on a low budget is to opt for free events or low-cost events.
- Instead of attending the cinema with family and friends, a movie night can be staged at home, classics can be rewatched, and you can invite a few friends over.
- Also, community events can be attended. In Nigeria, street carnivals are quite common at this time of the year, and for most of these carnivals, there’s no entry fee.
Reinvent traditions
Reinventing traditions is a great way to save costs and create new experiences. Focus on creating new traditions that don’t involve significant spending. Instead of spending substantially to visit the recreational centres, you can organize family games nights or storytelling nights.
Adetola Freeman, earlier quoted, also noted, “Families can switch to more indoor activities, they can revert to indoor games such as scrabble, chess, and playing cards.”
Optimize energy efficiency
- Optimizing energy efficiency during the holiday season is not only environmentally friendly but also a smart way to keep costs down in order not to pile up electricity bills.
- First, switch to energy-saving LED lights rather than the incandescent light for your decorations. Then, set up timers for your lights and decorations to ensure they are on only when needed.
- Energy-efficient cooking is another way of optimizing energy efficiency. To cut down costs on light bills, you can use your refrigerator at intervals, especially if you live in areas with constant power. You can also switch to gas stoves at some point instead of using electric cookers all the way.
What Financial Experts Are Saying
Nairametrics spoke to some financial experts about the subject and some respondents requested anonymity.
A banker and financial expert noted,
- “Prepare a budget within your income to guide spending the period. And restrict yourself to the budget.”
- “Buy only what is important, avoid frivolous purchases.”
- “Seek out markets where you can get items cheaper within your city. And bulk purchases will help you take advantage of reduced prices.”
- She added, “Most importantly, do not incur debt during the period.”
Adetola Freeman, the Regional Analyst for FBS Africa, noted,
- “Develop a scale of preference for gifting people. The culture of sending hamper packs to everybody is not financially viable. You can simply send greeting cards to some.”
- “For those who like to send boxes, try to send inexpensive gifts.”
- “Families should try to optimize spending on electricity this period. The culture of running generators all through the day may have to be reviewed.”