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Coping financially after festive spendings

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PEOPLE often make financial and economic decisions that affect their lives. Many of these decisions are made without a comparative analysis and understanding of the nations economic trend as well as their personal financial buoyancy.

During or before festive periods, most sellers create or influence demand of their products through advertising, personal selling, sales promotion and consumers are lured  into doing away with scale of preference in buying goods and services to celebrate and waste resources that would have helped them to survive  before January salary, wage or profit.

To cushion the hard times that normally occur after celebration, Anambra State government decided to help the populace cope with transportation challenges by providing buses to ply in all nook and crannies of Anambra State from December 2018 to March 2019, free of charge.

This gesture from Anambra State governor helped a lot of people to travel to different destinations without charge. Without being told, the masses, must have saved a lot of money from this state government’s gesture.

Apart from saving cost from transportation during this hard time, a financial expert and  teacher, Chukwudi Basil Oluchukwu, said “Christmas, is a time of merriment, a time of joy and happiness, it is worth celebrating, hard time should not force people not to celebrate, but people should always remember to build what is known as ‘provision’ in financial field, since much money is required to celebrate.

‘provision’ is when people set aside certain percentages of their incomes for future use, this money can go along way in helping people send their children back to school, pay their house rents if need be before January salaries, wages and profits will be received.

In her contribution, a petty trader, Ngozi Ananwuna said, ‘to cope financially  after festive time’ people should buy more goods and services during the festive period, so that after celebrating, there will be enough food stocks  and other items left to take care of the hard time.

Continuing, Mrs Ananwuna said, “in some situations, there are those who don’t have money to buy things during such time but those who have should purchase commodities wisely, having it at the back of their minds that children must go back to school, house rents be paid.

She pointed out that traders are not left out as some traders always  stocked their shops with more goods during festive periods to enable them see where to lay their hands on in January. The remaining goods could be sold to raise fund to remain in business after celebration.

A good number of people have plans against this period, many people contribute money to buy goods, such as rice, beans, cow, onions, yams, fish, stock fish, crayfish amongst others and share in groups so that there will be food stocks in their homes.

Other people suggest that instead of borrowing. Some people even resort to trekking certain distances just to save cost, in some cases such people who trek to their offices or business areas do claim they are trying to watch their weights and exercise their bodies.

one can survive this hard time by curtailing certain expenses.  Car owners can pack their cars and make use of public transport for some time and put little quantity of fuel to warm their cars instead of borrowing. Some people even resort to trekking certain distances just to save cost, in some cases such people who trek to their offices or business areas do claim they are trying to watch their weights and exercise their bodies.

Fruit sellers, before now stopped selling N50 worth of fruits but to keep life going, they  now sell N50 worth of water melon, pineapple, pawpaw, amongst others.

 

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