One of the most exciting aspects of festive periods in Nigeria is the tradition of travelling to reunite with immediate family, extended family and old friends. This nostalgic time is filled with joy but often comes with increased spending. During such times, people tend to schedule important events like weddings, funerals, and other celebrations to ensure they have a larger audience. To make such travel and celebrations more manageable, it’s important to plan ahead and budget wisely. Here is a working plan to saving for festivals in Nigeria.
Many people face difficulties in travelling during the festive season or even in returning after the holidays due to poor planning and lack of budgeting. Sticking to a set budget is key to having a stress-free experience. Here’s how you can enjoy your festive period while staying within your budget.
The secret to having a great time during the festivities lies in careful budgeting, sticking to your plan, and saving towards your set target. Let me illustrate this with an example to show you how it works.
Take Emeka, for instance, who sets a target of 1 million Naira as his Christmas budget. How can he raise this amount of money? Let’s break it down into manageable chunks: days, weeks, and months. If Emeka begins saving in January, here’s the math:
1 million Naira ÷ 365 days = approximately 2,740 Naira per day.
By saving 2,740 Naira daily, Emeka can reach his goal. If he calculates it per week:
2,740 Naira × 7 days = 19,180 Naira per week.
By consistently saving this amount, Emeka will have the full 1 million Naira by December to enjoy a stress-free festive season.
The key to this strategy is sticking to the budget you’ve set. When you arrive in the village or wherever you’re celebrating the festival, resist the temptation to overspend. Stick to your budget and avoid buying unnecessary items.
We understand that saving consistently may be a challenge. To make it easier, it’s best to save in an account that is not easily accessible to you but can be accessed when the set time arrives. At AjoApp Cooperative Society Limited, we can help you achieve your savings goal. Our AjoApp allows you to save daily, weekly, or monthly, and we offer a 2% bonus to motivate you to save. Plus, when you save with us, you’ll receive instant SMS alerts on all your savings.
Sign up now to begin your savings journey. At AjoApp Cooperative, we’ll ensure you never find yourself in a tough situation. We not only help you grow your savings but also offer financial management tools to help you succeed. Contact us www.ajoapp.ng, stop by our office, or call 07018895178 to get started today!
