By Livingstone Mukasa
You could well say I am not a festivity person. Periods like Birthdays, wedding anniversaries and thanksgivings bring me apprehension, but the Christmas season is here, so I have to behave.
As a country that celebrates consumerism and show offs (we should work to change this), Christmas time is to visit the village, relax and spend some cash.
The expenditures can range from fuel/transport money to village, entertainment, new clothes/stuff, presents and of course food.
Business people know that this is a time to make a killing; that’s why personally I avoid making unnecessary expenditure around this season.
I take out my family during the course of the year, buy clothes for them off season and so if I make no big deal of spending money in festive season, they can understand.
There are those less financially literate that take loans (salary advances) to spend over Christmas and these are the one that complain most that January is the longest month of the year.
Whatever you are planning to spend on this Christmas season, just keep it in mind that these two weeks will soon be behind you and it’s only smart that you go through the season without getting unwanted pregnancy; baby, HIV/STDS and also importantly avoiding getting broke.
Warren Buffet says “Buy when everyone is selling and sell when everyone is buying”.
If you practice this, by January you will have some cash to invest. Guess what?
January also tends to be a good month to buy hard assets on the cheap. In other words, while everyone is broke, it is time to invest.
If you buy the right asset or start the right business at the beginning of year, you are well set for the rest of the year.
Livingstone Mukasa is an author and CEO at Mazima Retirement Plan. Twitter@MukasaMulya FaceBook@Livingstone Mukasa
