Enjoying holidays on a budget

Budget and prioritise

George Micheal Walugembe, a financial development coach, says when it comes to Christmas budget, a few things come up: food and drinks, gifts, Christmas decorations, entertainment/ leisure and money for relatives.

Presuming that these are the major items on your budget, Walugembe says one has to arrange items considering their significance. After this, a budget can be allocated to each of the items. “Priorities will take the lion’s share while those at the bottom of your list can be met last, foregone or an alternative obtained,” he says. Walugembe emphasises that once a budget is drawn, it is important that it is followed, and the priority items should be bought first.  

Stay at home

It is true that festivities are largely about being with friends, family and partying. But today, we all know that staying at home is one of the ways to prevent the spread of coronavirus. Staying at home will considerably reduce your Christmas expenditure as well. Precious Mujunyi, an events planner, shares that staying at home eliminates a number of costs.  “We already know that we will not have any entertainment events, so that is already out of the window. You will not incur public transport costs going upcountry or fuel  prices, which are usually high during these days.

It means you will not need to give cash handouts to relatives as you probably would have done if you had travelled to the village,” she explains. She also adds that staying at home means one has a small number of people on whom to spend.

Create the Christmas at home

In addition to staying home, Mujunyi adds that this should not feel like you are held in quarantine. Instead, one can create a Christmassy environment at home - which is also on a budget. “One of the things that highlight Christmas is the decoration.

Go big on decorations or complement what you already have from the past Christmases,” she says. As for the entertainment, other things you can think about doing can be: watching movies, listening to Christmas songs, playing games, and making a dance competition, which you can capture on video. Whether with your immediate family, a couple or single, this can work for you as well as reduce your budget.

Sharing budget

If you are one who enjoys Christmas with many people around, this is a smart way to still enjoy Christmas the way you like it, without bearing the financial budget alone. “You can share the financial budget with friends or family that are willing.

If you were going to spend Shs500,000 for example, sharing this between three people will mean you will contribute about Shs167,000 only,” says Walugembe. He, however, cautions that for such an arrangement to work for you, you need people who are committed to bringing their contributions so that you do not end up bearing the burden.

Walugembe also notes that with such a pool of finances, one is also able to avoid some costs, especially if the Christmas celebrations are not going to be in their home. He says, “There are things you might not budget for, but will come up and be met by the host. If you are not the host, you are better placed to spend less.”

Shop before time

Last minute shopping during the festive season is just not good, especially while working on a tight budget. Prices tend to go up during this time and people seek to make as much profit as they can. “For things you can buy and keep, such as dry rations, you are better off buying them sooner than later.

He shares that this is also a time when many businesses and service providers are giving out discounts, so, look out for these as well. Additionally, some companies gave out shopping vouchers, gift hampers and some supermarkets also sell goods in hampers at relatively cheaper prices. Looking out for these can give you a good deal.

Reduce gifts

Rev Stephen Kagalama urges people to consider thoughtful gifts such as writing letters for loved ones, baking them cake or preparing them a special dish for Christmas.

“If you cannot buy gifts, have an honest conversation with your family members like your wife or children and let them know why things are different this time around,” he adds.