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A party that doesn't dent your pocket

Money
 Photo; Courtesy

My friend is turning 40 this October and among the plans she has for her big day is a party that will be the talk of town. Her decision is informed by another friend of hers who threw an exorbitant party last year for her ‘Big O’ birthday. At the party, my friend was challenged to exceed it when her turn came.

Now the date is fast approaching and she has realised she doesn’t have enough money to outshine her friend. Is this the only reason she is under immense pressure to spend money she doesn’t have?

Well, she says, she has to do it because if she doesn’t, her friends will no longer think highly of her. Sheer peer pressure.

I asked for the budget and when I ran through it, I was flabbergasted.

She will spend a tidy sum to print ‘special invite’ and ‘thank you’ cards. Catering will be done by a three-star hotel and drinks will include some expensive wines and spirits.

I don’t begrudge anyone wanting to splash money on their 40th birthday bash. It is a special day and from our 20s, we are psyched up for this day that is touted as the start of a new life — that life begins at 40.

And throwing a party to celebrate an achievement, however ‘small’ in other people’s eyes is good since human beings are social animals.

The problem here is having a party to impress friends and getting a Sacco loan to do so. This, in my view, is misplaced priorities.

Five years ago, you knew you will turn 40, why didn’t you start planning for it?

Can you imagine what might happen after the last sip of wine is downed and my friend says good night to the last guest? Regret.

Starting to repay the loan (with interest, of course). And to make it worse, the friends she tried to impress will start whispering how the party wasn’t that good, after all.

Well, it is easy to throw a great party and avoid depression that follows.

Here are a few ways to do this:

Get a head-start:

Save specifically for this milestone. Join a merry-go-round chama and tell yourself that the money you so save will be solely for that event and nothing will distract you.

Separate it:

Open an account for that money so that when it is your turn to receive the chama contribution, the whole amount is there. Annual dividends can also go to this kitty.

Have timelines:

If you are thinking of a major party three years from now, start planning now. Note that a good party means a tidy amount of money. Prepare by getting income outside your regular monies and keep this income aside.

No honey-dipping:

When planning other things that require finances, block your mind from ‘borrowing’ from this kitty for the party. If you aren’t strong-willed, open an account and purposefully ‘lose’ the ATM card or PIN.

No pressure:

Do it because you want to, not to impress others. If you live to impress people, your life will be miserable. Do what pleases you.

Do you you want to celebrate a milestone by visiting a children’s home? Go ahead and do it without thinking about what your friends will say. If it makes you happy or gives you satisfaction, why not?

Don't borrow:

Not for hosting a party. Just exercise self-discipline. It has left many women’s financial world in a shambles. See a party as a bonus, something you do outside your regular income and should never interfere with your monthly budget.

Be practical:

Don’t sweat the small things. If you must host a party but your budget is low, borrow from the First World’s best practices: Ask your guests to bring their own drinks or food. It is a common practice in other countries and we can adapt to it gradually.

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