WEEKEND INSIGHTS – 14th December 2024
CELEBRATE CHRISTMAS, NOT FINANCIAL STRUGGLES

By SABIITI Herbert

Christmas is a season of joy, love, and celebration—a time to make memories, not financial mistakes. Yet, in the excitement of the festivities, it’s easy to overspend or, worse, borrow money at interest to fund temporary pleasures. Sadly, this often leads to long-term financial struggles that overshadow the joy of the holiday season.

I learned this lesson the hard way when I got my first job. Overwhelmed with excitement after receiving my first salary, I invited friends for a trip to Bujagali Falls. We had a wonderful time, but I spent far beyond my means and even ran out of fuel on the way back—using a borrowed car, no less!

The fallout from that one impulsive decision was staggering. I was left broke, unable to pay rent or cover my basic needs for the following month. I spent the next two years trapped in financial bondage, relying on salary advances just to stay afloat. Imagine struggling for two years over a single day’s reckless decision. I know many of you can relate.

Unfortunately, many of us fall into the same trap during Christmas. Sometimes it’s the pressure to show off—to prove to the world that we’ve “arrived” or can afford the finer things in life. But deep down, we know the truth: we’re still struggling financially. Trying to impress others at the expense of your stability is a losing game. As the saying goes, “We buy things we don’t need with money we don’t have to impress people we don’t even like.”

The people you’re trying to impress won’t be there when the bills pile up, and you’re left struggling for months afterward. And even if they are around, they might simply gossip about your poor decisions.

But you don’t have to make the same mistake. Christmas is just one day, but the financial consequences of poor planning can last all year—or longer. Borrowing money with interest to fund celebrations only digs a deeper hole. Instead, focus on what truly matters: spending time with loved ones, sharing laughter, and creating memories that don’t leave your wallet empty.

Plan your holiday within your means. Set a budget and stick to it. If money is tight, simplify your celebrations—it doesn’t take lavish gifts or extravagant trips to make the season special. Wise financial decisions this Christmas will ensure peace of mind as you step into 2025 without the burden of unnecessary debt.

Remember, you have nothing to prove. True success lies in living within your means and building a future free from financial stress. As the adage goes, “A rich life is not about how much you spend but how much you save and share wisely.”

Celebrate wisely, friends. A joyous Christmas today doesn’t have to lead to a financially painful tomorrow.

MERRY CHRISTMAS and a flourishing new year!