Most Nigerians struggle financially in January because they spend more buying new clothes they already have, making more financial expenses on traveling, which some are not really relevant, over spending on food which is even more than a 6 mouth budget. instead of making plans on how to renew house rent store rent paying of school fees by January e.t.c
If you're still struggling financially every January it means you still have a lot of things to fix up with your financial management. We know the season generally comes with a lot of spending and project flying here and there but as a wise person, proper planning and preparation are expected of you even before the season comes fully. It's necessary to establish a fact that for most people who visit the village during Christmas and New Year, it's a very bad thing if you don't budget the amount you will spend throughout your stay in the village. Failure to plan this might even go on to ruin a good portion of the rest of the year for you. We know that businesses don't strive too well from January to March and if you don't know how to set your financial plan on track such that you can easily adapt to whatever comes after the festive season, you will end up joining the company of those that visit the village with a lot of money but can't afford to pay their T fair back until they sell out their phones and gadgets. 
Topic: Why most Nigerian struggle financially in January (Read 225 times)
The saying one should cut it coat according to it's size should not be overruled by an individual, I know op statement actually happened in some individual but not all falls into this category of over spending on clothing and traveling on festive period like Christmas.
I think many Nigerians have the habit of overspending without budgeting and not even spending over their budgets. At least I can speak of the region I come from. And many of our people here believe in spending today with the belief that God will always provide. While it is okay for everyone to believe in their religious convictions, I don't think it is okay to spend without planning. Whether it is in the festive period or not, setting up limits against our spending is the most sustainable way of life and business.
However, plenty people have learnt how to adjust their spending since this regime started. The economical hardships continues to loom over the citizens of the country and the hit of the economic hardships varies across states. There are states where the Governors have tried to salvage the situation whereas there are states where the Governors have done worse especially in their salaries, wages and pensions.
Nigerians are religious people, most Christians py there foret fruit in the first month of the year, all salary been paid to the church for more God blessings and protection of the year. They have to Starve themselves although January till February salary comes in. While some spent all they money for the festival period and find it hard to save for the new month. So many factors that can lead to Nigerians struggling bdly in January.
The saying one should cut it coat according to it's size should not be overruled by an individual, I know op statement actually happened in some individual but not all falls into this category of over spending on clothing and traveling on festive period like Christmas.
This is the course of many hardship is as a result of under paid job, low salary or source of income to Carter daily responsibilities of those that face such, despite using scale of preference cutting down expenses, as many own debt as a result of all time inflation that don't match their income for feeding and other health issue which accumulate against the preceding month. People of this categories which hardly settle up or level up their debt at the end of a month will always face hardship at the preceding months.
Why January is well notice by all sort of people around the society is due to the fact that those who are debtor find it difficult to meet those where they always collect on credit as they will be looking forward to renew and increase their products for the year. But op idea sometimes play out but not completely in most cases.
This is the course of many hardship is as a result of under paid job, low salary or source of income to Carter daily responsibilities of those that face such, despite using scale of preference cutting down expenses, as many own debt as a result of all time inflation that don't match their income for feeding and other health issue which accumulate against the preceding month. People of this categories which hardly settle up or level up their debt at the end of a month will always face hardship at the preceding months.
Why January is well notice by all sort of people around the society is due to the fact that those who are debtor find it difficult to meet those where they always collect on credit as they will be looking forward to renew and increase their products for the year. But op idea sometimes play out but not completely in most cases.
I guess is very common among people in the country, and some people will be spending the money as if January will not come again, and when January finally come they will be struggling financially through out the month because salary normally come at the end of the month.
When you fail to learn from past experience, are some of the things that make some people to experience financially struggle during the month of January, and they never want to learn from what happened to them in the past to put an end to it by saving some money that will sustain them through out January till another salary come.
I used to save my January money separate from Christmas and new year, and I have experienced many hardship from January that made me to put an it to it, and every January look like Christmas day for me and my family to celebrate which you can learn from my strategy.
When you fail to learn from past experience, are some of the things that make some people to experience financially struggle during the month of January, and they never want to learn from what happened to them in the past to put an end to it by saving some money that will sustain them through out January till another salary come.
I used to save my January money separate from Christmas and new year, and I have experienced many hardship from January that made me to put an it to it, and every January look like Christmas day for me and my family to celebrate which you can learn from my strategy.
Lack of adequate planning for the new year is one of the elements that affect many people, this is not about being a Nigerian or not, if you fail to plan then you will plan to fail, we also need to take responsibility for ourselves on what to do, no one will ever act on the best interest for our own good than what we have done for ourself, but when we give less, we should also not stand in the position of receiving more than we have given.
The most important thing is planning and spending more than our income, like we Nigerian we value fastive period like Christmas and we take it as if that's end of the world some people buy all things some feels there's where there income it's needed mostly because it's end of the year.
But not knowing the coming month it's most important because is the beginning of the year and starting of the month, okay just check out this. Someone who's earning 50% monthly he have saved up to #200,000 yearly but it's because is fastive period he wants to spend it all during that time not planning or thinking of other things ahead of him, like what my mentor normally say who so ever runs around concerning about a responsibility in starting of the year his not planning. So on my calculations most important thing concerning Nigerian financially struggles in January is not planning ahead of us and spending more then there incomes.
But not knowing the coming month it's most important because is the beginning of the year and starting of the month, okay just check out this. Someone who's earning 50% monthly he have saved up to #200,000 yearly but it's because is fastive period he wants to spend it all during that time not planning or thinking of other things ahead of him, like what my mentor normally say who so ever runs around concerning about a responsibility in starting of the year his not planning. So on my calculations most important thing concerning Nigerian financially struggles in January is not planning ahead of us and spending more then there incomes.
Most Nigerians struggle financially in January because they spend more buying new clothes they already have, making more financial expenses on traveling, which some are not really relevant, over spending on food which is even more than a 6 mouth budget. instead of making plans on how to renew house rent store rent paying of school fees by January e.t.c
The young Nigerians are simply the ones living above their means and we know exactly where it will lead to. However the wise ones will sort out golden opportunities to explore for their well being and running smoothly. Nigerians have no composure when it comes to spending, always making huge difference and having absolutely everything to worry about. Nigerians have chosen to learn the hardway. They knew basically the essential purposes and needs to establish solid strategies in the system. 
Most Nigerians struggle financially in January because they spend more buying new clothes they already have, making more financial expenses on traveling, which some are not really relevant, over spending on food which is even more than a 6 mouth budget. instead of making plans on how to renew house rent store rent paying of school fees by January e.t.c
Truth be told, and most of us are very very careless when it comes in spending, den tomorrow dey will still be the one that will go bankrupt and start begging either on the street or their love ones, they spend forgetting there is tomorrow, is only few people that has a budget plan when it gets to festival periods like December time because during dat time people travel, celebrate, do alot of things during that period and it always cause a lot of spending too, so while spending, they also keep aside the ones they will use on January incase there is no money left again, to use to sustain themselves until they resume work and start receiving salary too but only few does that while spend everything with the mentality dat they will get another one before January which at times fail them. So while spending it's also important to remember to save incase of emergency.
Most Nigerians struggle financially in January because they spend more buying new clothes they already have, making more financial expenses on traveling, which some are not really relevant, over spending on food which is even more than a 6 mouth budget. instead of making plans on how to renew house rent store rent paying of school fees by January e.t.c
You are pretty wright though. I think there is time for everything and season, and the season is also here for the Christian's why Salah for the Muslim. But that doesn't mean one should over spend their fund. It would be unwise to spend the total fund generated from January down to December just for one time spending. Tips to avoid over expenditure on festive period
1) It is good to have a scale of preference in oder of demand and the necessary requirements in other not to over spend.
2) settle the necessary things that are important before festive period. Like paying house rend, paying School fee ahead of up coming year.
3) buying things cheaper before December period
4) save your money in an account you hardly termper or had no ATM card and use the proposed amount needed for the festive period in other not to spend more.
5) If you are married, shear your budget into 3 part give your wife 2 part and hold 1 and warn her to use It properly. because some wife's are the reason behind over spending because of children clothing and their cloths and hair. moreover they have enough in there Waldrop. If the need is beyond the 2 part you have given them, then you can give half from the one you hold. Otherwise they will drive you to unnecessary spendings.
This season is not a time people needs to kill themselves just to celebrate Christmas if they don't have. In this season most people live in ignorance , this season will come and go people needs to understand this and not to be carried away to put debt in thier heads to celebrate and party. Beginning of the year is very hard , which people needs to save for it and get prepared to face the financial challenges that will be coming on in the new year.
Op na true say for January many home dey tend to go broke because of the festive period but that one no mean say make Dem bo celebrate, after all from where I come from most time na that period children take dey get the best cloths for their life, na that time parent go o like to wan do everything just to make their children dey very happy.
Boss Charles, I no support you for this one wey you talk so, because all of us know how this thing don dey play right from when we dey small, if to say our parents no but us Christmas cloths when we dey small, na cry we for take design the entire Christmas and new year celebration, so make we nor dey act novice to these things as if we nor been do am. Papa go buy rice, buy chicken , cloths tell me why e nor go broke, ones in a full year to make em pikin feel special, abeg e nor easy, some person sef na that time be the only time wey Dem dey reach village inside one full year.
This is wrong. Why are many Nigerians buying used cloths? To wear better quality but at cheap price. This is enough to let you know what I will talk about traveling and expensive living which are meant for the rich people. There are also rich people in Nigeria.
Some people may not be good at management but you do not have to generalize it to all Nigerians. It is normal for people that are rich to use and go for something expensive, but some people are not like that and they cut their clothes according to their sizes.
But to be sincere with you, I do not see this your post useful or valid. I hope you will come with a better topic next time. Do not see this insulting.
Some people may not be good at management but you do not have to generalize it to all Nigerians. It is normal for people that are rich to use and go for something expensive, but some people are not like that and they cut their clothes according to their sizes.
But to be sincere with you, I do not see this your post useful or valid. I hope you will come with a better topic next time. Do not see this insulting.
Boss Charles, I no support you for this one wey you talk so, because all of us know how this thing don dey play right from when we dey small, if to say our parents no but us Christmas cloths when we dey small, na cry we for take design the entire Christmas and new year celebration, so make we nor dey act novice to these things as if we nor been do am. Papa go buy rice, buy chicken , cloths tell me why e nor go broke, ones in a full year to make em pikin feel special, abeg e nor easy, some person sef na that time be the only time wey Dem dey reach village inside one full year.
I don't know about the January saga maybe have not seen such but in this festive season a lot of families will always want to spend more because they want to celebrate, there's nothing bad spending money on this festive season cause a lot of people want to buy new shoes, clothes etc that's good but the problem here is when you don't have enough money why waste the money on new clothes and shoes but still I don't see any problem with that cause there's no need talking about them they also want to feel among, it's best to go for what you can afford and relax, op do you know if everyone can go for what they can afford like the different price and grade if everyone can cut their coat according to there size they'll be no January saga, it's best if everyone can participant in this season because it'll not be best if everyone is celebrating then you decide to exempt yourself that's very bad but the annoying part now is people take every festive season as competition and that's where the problem comes from.
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OP, some people might find things difficult during January, probably because things might not have gone so well according to how they planned it. It's not everyone who has a difficult time during January who actually spends unnecessary money on clothes. Some people too don't actually use to make a very favorable plan for themselves, which in turn could be something that will collapse in the month of January.
Most Nigerians struggle financially in January because they spend more buying new clothes they already have, making more financial expenses on traveling, which some are not really relevant, over spending on food which is even more than a 6 mouth budget. instead of making plans on how to renew house rent store rent paying of school fees by January e.t.c
However, I can say that you are talking directly to the low income earner, because those who already have money cam not spend like a because of a house rent, shop tents or school fees as you mentioned, Nigeria is a wealthy country that have enough citizens that are wealthy, so if you think that people are using their last money to entertain them selfs this celebration season, i think you are very much wrong.Although, we have Bitcoin, one can invest in Bitcoin ones it's the early part of the year, I know it might be hard to get the money to invest into Bitcoin but I think it is still good not to invest when you don't have the money to invest.
Still, there are also a lot of opportunities that can provide money for you but if is just left for you to make the right decisions by working in a very smart way so that you can get money to create a better opportunity for your self.
Lastly, if you can not afford to do something don't just force your self to do it, more especially if it will not be of any benefits for you, and again, you talked about traveling as a waist of money, but that's not true because i see travelling as part of learning, the more you travel, the more you get more experience.
Lolz!!! Landlord and tenant quarrel will start after festival period. But they normally understand themselves in this period.
I swear, landlord go just dey watch the tenant with one eye as if e no dey see as him dey enjoy dey spend anyhow, forgetting say him get bills to pay but the landlord sef go join am celebrate because na the period of celebration but immediately the period pass Omo na big quarel oo. I remember one big problem wey happen for ma area one time like that , Omo no be small thing oo, the whole was based on the issue say the tenant don go use him saving for the Christmas holidays and now come dey refuse to pay back.
Op the month of December and January are meant for spending but if you don't have, you don't have to do big, but you can do it according to what you have. You can cook soup and eat on the Christmas day or the New year day if rice is too expenses. Those who don't have new clothes can wear the old ones. In those days this is the only periods people used to visit their communities, greet elderly people and dash them money. But things have changed. Everything now is cost so things are not like that again. The real Africa culture is fading out. Those who struggle after the festival to settle their bills didn't plan well. When transport fare was very low travelling in this period was really a fun. Food in this festival period is undisputable. It is the period of merriment and sharing of food. Those who have it give it to those who don't have it and those who don't have it visit friends and eat.
Lolz!!! Landlord and tenant quarrel will start after festival period. But they normally understand themselves in this period.
Lolz!!! Landlord and tenant quarrel will start after festival period. But they normally understand themselves in this period.
Most Nigerians struggle financially in January because they spend more buying new clothes they already have, making more financial expenses on traveling, which some are not really relevant, over spending on food which is even more than a 6 mouth budget. instead of making plans on how to renew house rent store rent paying of school fees by January e.t.c
You are right about what you said OP, but you should also know that everyone should cut their coat according to their sizes. Many Nigerians don’t really have a good plan on how to spend their money but that shouldn’t make it look like all Nigerians will spend without managing their funds against the new year. Those that don’t spend according to their pocket mostly are those doing that to impress others for that deceive period, after that, they go back to square and this is now how it is suppose to be. No one is saying you shouldn’t have fun during festive period but let it be limited to just the budget you can afford to spend on it.
Why had it always been that people like you will always make use of Nigeria as a case study in things like this, are there no other challenging countries than Nigeria that people are there suffering out of ignorance and personal indecisions, maybe you should even consider a larger numbers of countries that were even below the standard of how an average Nigerian lives and be grateful for once and stop being great fools, missappropriation can happen to anyone in life, stop the castigation on Nigerians or using it as a scape goat for bad manners.
The OP might be using Nigeria as a case study because he is more familiar with the happenings here than what is happening in other part of the world. Not to support him fully, but bringing it up here is better than him putting it on the general board for discussion. Things dey happen for other part of the world wey worse pass dis one but if OP no go on research about them, him no go get wetin to talk about dem for here. Nigeria is good and better dan many countries but saying bad things about naija always no really make sense.
Most Nigerians struggle financially in January because they spend more buying new clothes they already have, making more financial expenses on traveling, which some are not really relevant, over spending on food which is even more than a 6 mouth budget. instead of making plans on how to renew house rent store rent paying of school fees by January e.t.c
new year and seeing broke people lamenting na 5 and 6. Everybody wan show off say dem de do well and go wan oppress others even as dem know say nothing really gum them like that. I feel say na poor planning de course most of this things and the funny thing is that every year you still find people in this condition of being very broke because of the reckless xmas spending and they don't seem to learn a thing from it. But na people when no really get money like that De get this challenge cause e get as your money go long reach you self go know say xmass no got run you dry. na that kind money I de find like this.
I think what the OP is trying to point at, is the struggles and hurdles that occurs during this festive period
No. What he meant is that most Nigeria spend more during the festive period in a way they spend more on clothes and tourism which he called travelling.I don't see anywhere that the Op talked about Nigerians buying used clothes but Instead he made mentioned of new clothes
Yes. He mentioned new clothes. I mentioned used clothes which is common to buy in Nigeria and some people are buying it which can be those that are less privileged. That people are cutting cloth according to their sizes. Some people spend more during festive period, but not that they are not wise.if you not you would understand the notion the OP is driving at because during this period alot of Nigerians tend to do all sort of crazy things especially the average and low standard and they do all these in name of trying to meet up and some of the youths even go as far as kidnapping and doing all sort of vile act such as human sacrifice just to meet up with the season spending spree.
So the festive period should not be celebrated? Who is wasting money during the festive period to show off will continue to waste money to show off after the festive period. Festive period are what we planned ahead and if you like it or not, you will spend more during that time. It is a time you will but new cloths and spend more on family, but to still spend wisely. Jump to: