The festive season is here again and one can feel the excitement in the air. Even with the recession and economic instability, Nigerians are still looking forward to the Yuletide festivities and planning end of the year parties everywhere.

However, there are many other Nigerians who are terribly scared of the seasons. No, not because of the holidays but they have to spend a lot more money during the season. Sumptuous meals, entertainment, gifts and all those social activities don’t come free all the time.

If you love to have all the fun that comes with the season, but don’t want the financial pinch you experience afterwards, there are several great tricks for giving and celebrating, without breaking the bank. So when you’re out shopping and battling the holiday crowds or heading to social commitments with family and friends, consider your wallet and protect your budget with these simple tips:

1. Have a budget and a cap on the amount you want to spend

Sit down and plan out your holiday budget before you begin shopping this year. Gifts, large or small, can really add up, leaving you with a hefty hole in your pockets or even huge debts at the end of the season. Before you start spending, estimate how much you plan to spend on gifts items, food and social activities. Then keep track of your spending.

2. Plan ahead

You’ve done your budget and you’re ready to tackle the crowds. Then look for special “savings days” at your favorite retail stores. Take advantage of free shipping with online purchases. Buy gifts throughout the year, not just during the peak season.

3. Buy only what is necessary

Do you really need to exchange gifts with everyone in your family? Consider cutting your list back this year. Just because you had a long gift list last year doesn’t mean you need to repeat it this year.

4. Reduce your stress

The holiday season is stressful enough with demands from family and friends, not to mention social commitments for work or other groups. Try to plan ahead as much as possible. Avoiding last-minute buys will impact your budget. Also, remember to maintain your daily routines to keep stress levels low. If you usually take a walk or go to the gym every day, take the time to continue the habit during the hectic holiday months.

5. The things that matter are actually free

 In the end, the holidays are all about enjoying friends and family. Staying focused on time with loved ones and other joys of the season can help you to keep stress in perspective. If you are hosting holiday parties at your home, plan for the costs ahead of time. Rather than feeling obligated to host an event every year, suggest a rotation for who will host holiday gatherings. And remember that it’s much better to keep spending down and stick to your budget. It’s a great feeling to start off the New Year on the right financial footing.