“Teaching children and other family members about budgeting and the value of moderation ensures that expectations remain grounded, fostering a shared sense of responsibility. Technology can also be a useful ally—budgeting apps or simple spreadsheets can help track expenses in real time, keeping you on course throughout the season.”
As the calendar turns to December, it comes with some sort of excitement that other months of the year don’t match. December in Nigeria is synonymous with celebrations, reunions, and gratitude for the year gone by. However, it is also a month marked by financial decisions that can either make or mar the start of the new year.
In many Nigerian households, the festive season comes with elaborate expenses. From repainting homes and buying expensive clothes to hosting large parties, these traditions often put undue pressure on family finances. The desire to impress or conform to societal expectations can result in spending far beyond one’s means, leaving many families struggling to recover well into the new year. For instance, a family in Lagos may feel compelled to upgrade furniture or purchase the latest electronics to showcase during Christmas gatherings, even if it means incurring debt.
Similarly, the cultural practice of traveling to one’s hometown during the festive seasonadds another layer of financial strain. For many Nigerians, the journey to “the village” involves costs like transportation, purchasing food items in bulk, and giving monetary gifts to extended family members. In a year where fuel prices have skyrocketed, thesexpenses can quickly spiral out of control. Families often feel the need to arrive with goods that signify prosperity, such as cartons of drinks, hampers, or sacks of rice, sometimes spending their entire December salary—or even taking loans—to meet these expectations.
Another area of financial waste is the trend of hosting extravagant events. During the festive period, communities witness a surge in weddings, naming ceremonies, housewarming parties, and other celebrations. In many cases, hosts go to great lengths to outdo one another, hiring event planners, renting luxurious venues, and providing expensive souvenirs. While these events are joyful occasions, the financial burden often falls heavily on the hosts, some of whom might resort to borrowing or selling valuable assets to fund their celebrations.
Social media has also amplified the culture of wasteful spending during festive seasons. Platforms like Instagram and TikTok showcase curated images of luxurious decorations, designer outfits, and lavish parties, creating a false sense of inadequacy for those who cannot afford similar displays. The pressure to keep up with these trends drives impulsive spending on unnecessary items, from imported Christmas trees to high-end catering services, as individuals strive to match or surpass what they see online.
Even the simple act of gift-giving, which is meant to symbolize love and thoughtfulness, has taken on a competitive edge. In Nigeria’s urban centers, corporate gifting has become a status-driven affair, with companies and individuals vying to present the most elaborate hampers. These often include imported wines, exotic chocolates, and other luxury items that may not hold significant personal value but carry hefty price tags.
While it is natural to want to celebrate and share joy during the holidays, the long-term consequences of financial overreach cannot be ignored. Many Nigerians enter the new year burdened by debt or with depleted savings, making it difficult to navigate January’s traditional challenges, such as school fees and house rent payments. This cycle of financial strain not only affects individual households but also contributes to broader societal issues, including increased stress, conflicts, and in some cases, unethical practices like embezzlement or fraud to recover lost funds.
To break this cycle, it is essential to redefine what the festive season represents. One of the most effective ways to curb excess is by setting a realistic budget and adhering to it. Before making any purchases, take the time to plan and allocate funds for essentials such as gifts, travel, and food. Tracking expenses as you go ensures you don’t exceed your limits, and using cash or debit cards can help curb impulsive overspending.
Another powerful approach is to embrace low-cost traditions that focus on creating memories rather than draining wallets. Family storytelling sessions, group prayer meetings, and simple community gatherings can foster a sense of togetherness without the financial burden of extravagant events. Planning early also plays a key role in avoiding unnecessary expenses. Shopping ahead of the rush allows you to take Social media has also amplified the culture of wasteful spending during festive seasons. Platforms like Instagram and TikTok showcase curated images of luxurious decorations, designer outfits, and lavish parties, creating a false sense of inadequacy for those who cannot afford similar displays. The pressure to keep up with these trends drives impulsive spending on unnecessary items, from imported Christmas trees to high-end catering services, as individuals strive to match or surpass what they see online.
Even the simple act of gift-giving, which is meant to symbolize love and thoughtfulness, has taken on a competitive edge. In Nigeria’s urban centers, corporate gifting has become a status-driven affair, with companies and individuals vying to present the most elaborate hampers. These often include imported wines, exotic chocolates, and other luxury items that may not hold significant personal value but carry hefty price tags.
While it is natural to want to celebrate and share joy during the holidays, the long-term consequences of financial overreach cannot be ignored. Many Nigerians enter the new year burdened by debt or with depleted savings, making it difficult to navigate January’s traditional challenges, such as school fees and house rent payments. This cycle of financial strain not only affects individual households but also contributes to broader societal issues, including increased stress, conflicts, and in some cases, unethical practices like embezzlement or fraud to recover lost funds.
To break this cycle, it is essential to redefine what the festive season represents. One of the most effective ways to curb excess is by setting a realistic budget and adhering to it. Before making any purchases, take the time to plan and allocate funds foressentials such as gifts, travel, and food. Tracking expenses as you go ensures youdon’t exceed your limits, and using cash or debit cards can help curb impulsive overspending.
Another powerful approach is to embrace low-cost traditions that focus on creating memories rather than draining wallets. Family storytelling sessions, group prayer meetings, and simple community gatherings can foster a sense of togetherness without the financial burden of extravagant events. Planning early also plays a key role in avoiding unnecessary expenses. Shopping ahead of the rush allows you to take advantage of discounts and avoid inflated holiday prices, spreading costs over time rather than concentrating them in December.
Shared celebrations can further ease financial pressure. Collaborating with friends or family to host joint gatherings not only lightens the cost but also deepens the joy of collective festivity. Instead of purchasing expensive gifts, consider thoughtful alternatives like handmade crafts, baked treats, or heartfelt notes—these often carry more meaning and are a fraction of the cost.
In today’s social media-driven world, resisting the urge to compare yourself to curated online portrayals of festive grandeur is essential. Recognize that these images often do not reflect reality and stay focused on celebrating within your means. At the sametime, thinking ahead to future festive seasons by creating a dedicated savings fund can help reduce the financial strain when December comes around again.
Cultural expectations, such as bringing elaborate gifts to the village or hosting extravagant feasts, can be reevaluated in favor of simpler and more sustainable practices. Open conversations with family about financial constraints can help set realistic expectations. Shifting focus from material displays to shared experiences like picnics, community service, or attending public holiday events can also add depth to celebrations without the weight of excess spending. It is important to involve your family in the process of managing festive finances.
Teaching children and other family members about budgeting and the value of moderation ensures that expectations remain grounded, fostering a shared sense of responsibility. Technology can also be a useful ally—budgeting apps or simple spreadsheets can help track expenses in real time, keeping you on course throughout the season.
Above all, adopting a mindset of gratitude and contentment is key. When you focus on appreciating what you have rather than striving for what you don’t, the pressure to overspend diminishes. This shift allows the season’s true essence—peace, joy, and ove—to shine through, ensuring the festivities leave you with cherished memories rather than lingering regrets.
Proverbs 21:5 “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.”
Prof. Ofonime Emmanuel Bassey is a Leadership, Conflict, Peace, and Security Management Coach with decades of experience in the practice and promotion of Law Enforcement, Peace, and Security through the Nigeria Police and the United Nations.
He has served and interacted at the top level management of the Nigeria Police as well as internationally as a United Nation’s Monitor/Mentor in Kosovo, Europe.
Ofonime is a certified United Nation’s Trainer, and currently a Professor of Leadership, Peace, and Conflict Resolution with ICOF University, USA/Zambia and a Professor of Peace Education with Charismatic International University, Cameroon.
With his marks well-established in Peace Leadership both in Nigeria and Africa, he is the President, NISSI Safety Management Institute: An Institute famous for Peace Leadership.
Presently, he is spearheading a campaign tagged “The Next Peace Leaders”, acampaign that is billed to run from 2022-2030 with a target of training 37,000 young peace leaders. For leadership, conflict, peace and security consultations and trainings, reach him via:
Facebook: Dr. O.E Bassey
LinkedIn: Dr. O.E Bassey
X: Dr. O.E Bassey
WhatsApp: +2347065828892
Mail: emmanuelbassey@gmail.com
Share your story or advertise with us: Whatsapp: +2347068606071 Email: info@newspotng.com
