How to Financially Survive the Holidays this Year


How to financially survive the holiday season

The holidays are almost here and you may be wondering how you can financially survive. The entire globe is gradually recovering from the pandemic and adjusting to the new normal. Therefore, a lot of financial planning and adjustment are required to stay afloat this holiday.

The holiday is an exciting time for most people. The excitement is heightened when there are kids in the picture. Notwithstanding how much you may look forward to the holiday, it is also not a period to smile at the bank for most people.

A lot of expenses are made during the holiday making so many people take out a payday loan to augment their budget. However, it is possible to go through the holiday without breaking the bank. So how can you financially survive the holiday this year? Let’s dive in.

#1. Come Up With a Budget

A budget is one of the important tools that you will need this holiday. But beyond coming up with a budget, you also need to commit to sticking to the budget. With a budget, you can have a swell time and yet achieve your financial goals. Spend time categorizing your spending this holiday.

Many times you may get advice from so many corners to decide on what you want to spend and plan your budget around that figure. However, this method doesn’t work all the time. Planning gives you enough time to save. Categorize your spending and sum it up to get the total amount you are working with, then work towards raising the money. Never leave any penny unaccounted for in your budget.

#2. Keep Track of your Expenses

There is no point in coming up with a budget if you can’t track your expenses. Overspending is most likely to happen during the holidays which is why you need to pay more attention to tracking your expenses. With a lot of gifts to buy and events to attend, spending above your estimated budget may happen if not properly checked.

#3. Save towards the Holiday

Saving for the holiday can help you stay afloat. Your holiday spending should not be charged to your credit cards. If you don’t save for the holiday and decide to spend at source, you may end up accumulating debts that you will continue paying off way beyond the holiday.

#4. Be Conservative in Giving Gifts

Generosity is encouraged during the holiday. However, do not be generous at the expense of your financial wellbeing. Ensure you limit the gifts to what you can afford and avoid extravagance. Your friends and family will appreciate thoughtful gifts and these don’t have to be extravagant. Ensure you keep all your spending within your budget.

#5. Don’t be Shy to say No

To stick to your budget, you may need to say “no” to spending that is not within your budget. There is no point in getting into debt to make an impression during the holiday. If you can’t afford it, then refuse to take a loan to pay for it or charge it to your credit card.


Surviving financially this holiday is possible if you can plan and stick to your plan. You no longer have to pile up credit card debts and payday loans after the holiday. All you need to do is draw up a budget, save towards the holiday, and spend within your limits.