A financial expert has advised Nigerians to adopt disciplined fiscal strategies during the yuletide and New Year festivities to avoid the financial strain traditionally experienced in January.
Ms Margaret Banasko, Head of Marketing at FairMoney Microfinance Bank (MFB), gave the advice in a statement issued in Lagos on Wednesday.
Banasko said the warning had become more necessary as year-end festivities, popularly known as “Detty December,” continue to gain momentum.
She noted that the festive season—often characterized by concerts, parties and the influx of Nigerians from the diaspora—frequently encourages emotional spending.
According to her, such spending habits could jeopardize critical first-quarter obligations, including rent and school fees.
“Savvy individuals and business leaders must reframe December as the final and most crucial financial quarter. The goal is to move from emotional spending to deliberate and strategic saving,” she said.
Banasko noted that the festive period is usually marked by increased consumption of utilities, airtime and data.
She advised consumers to use platforms that offer direct financial incentives or cashbacks on high-frequency expenditures.
“Every percentage saved on recurring utilities such as electricity tokens and cable television subscriptions is capital effectively preserved for critical first-quarter requirements,” she said.
She further recommended a structured resource allocation framework in which 50 per cent of December income is reserved for non-negotiable January needs, 30 per cent for discretionary festive spending and 20 per cent for structured savings and investment.
“The 20 per cent savings portion should be treated as an anchor for long-term wealth, using automated tools to isolate these funds before spending begins,” Banasko said.
She added that bonuses should not be viewed as disposable income but rather as investment capital.
“Any unexpected cash injections should be isolated and categorized as investment capital.
“Using fixed-deposit tools can ensure these funds remain secure and accrue interest until they are needed for major New Year projects,” she added.
To protect long-term savings from being depleted during emergencies, Banasko highlighted the importance of access to revolving credit lines.
She explained that such “liquidity shields” allow individuals to meet sudden repair or business needs without touching funds earmarked for rent and school fees.
Banasko also urged Nigerians to opt for high-value, low-cost social activities, noting that themed potlucks and visits to local attractions could provide similar satisfaction to high-cost concerts at a fraction of the expense.
According to her, meaningful celebrations are measured by the quality of connection rather than the cost, and replacing expensive outings with thoughtful group activities can significantly reduce discretionary spending.
She maintained that by adopting these measures, Nigerians could end the year on a strong financial footing and position themselves for a prosperous New Year.
