Enjoy the holidays without financial stress

Enjoy the holidays without financial stress (Photo: iStock)

December, the final month of the year, is known for its festive spirit; filled with celebrations, travel, and family reunions, but it also has a way of draining people’s wallets. While many look forward to this time of year, it often brings significant financial pressure. For some, the savings started in January just aren’t enough to cover all the expenses that pile up during the holidays.

For many families, the holiday season means travelling from cities to rural hometowns, buying new clothes, exchanging gifts, and organising meals. The pressure is especially felt by women, who often bear the brunt of managing family needs and hosting gatherings. All of this can quickly make the season both expensive and stressful.

Benson Mwanza explains how his December expenses begin before he even leaves home. "At home, we usually eat ugali and meat, but for the festive season, I have to switch things up. This year, I’m planning to make pizza and chicken instead," he says. "It’s a small change, but it adds to the cost."

Beyond changing his meal plans, Benson also has to factor in travel and family activities. "I travel every holiday season, buy new outfits for my children, and take them to a nice place. It’s a tradition, but it definitely pushes my usual spending higher," he admits.

While some people find December to be their most expensive month, others, like Grace Kendi, manage it without feeling the strain. "I travel at least twice a month, and I don’t really feel the pressure around December," Grace says. "I save throughout the year, so by the time the holidays come, I already know exactly how much I’ll spend and where my money is going." For Grace, having a clear budget helps her enjoy the festive season without stress.

Oscar Munene, a financial adviser, offers some practical advice for handling December’s financial challenges. "The key to surviving December is planning and practising financial discipline," he explains. "Too many people end up borrowing money to impress their loved ones. But celebrations should never push you into debt. Set a realistic budget and stick to it, so you can enjoy the season without overspending."

He also notes that many people face financial difficulties in January due to the excess spending in December. "The real value of the holidays is in the memories we create with our loved ones, not in how much we spend," Oscar concludes.