Secure your wallet this christmas, build wealth for 2026
For far too many Ghanaians, the January blues are more than a sentiment; they are a financial statement.
The January "Kpakpakpa" turns into a desperate scramble as wallets depleted by December's abundance face the hard reality of new school fees, renewed rent, and pressing debts. However, this year has the potential to be different.
The year 2026 does not have to begin with a financial deficit. Indeed, this festive season, with its unique cash flows, social dynamics, and business chances, may serve as an unexpected springboard for your wealth-building path.
The goal is to adjust your perspective from seeing December as a time of sheer spending to viewing it as a strategic financial season.
It's about making mindful decisions that protect your current happiness while actively building your future success.
Welcome to the art of partying lavishly without becoming impoverished, and of using today's festivities to fund tomorrow's dreams in Ghana's thriving economy. The article below outlines techniques for protecting your pocket this Christmas and building money in 2026.
Make a Christmas Budget and Stick to It
To have a financially peaceful Christmas, begin by adopting a rigorous budget.
List all your estimated expenses, including food, presents, travel, clothing, entertainment, and donations.
Assign a reasonable spending limit to each category and stick to it.
Most importantly, be a smart shopper. Prices rise considerably in the last two weeks of December. Outsmart this trend by purchasing non-perishable food, clothing, and trip tickets early in the month to secure reduced costs. Your budget serves as your financial strategy for the season.
Discipline is essential: if a purchase is not accounted for in your budget, do not make it.
Divide your December income into three Portions
A sensible strategy to manage your December revenue in Ghana is to divide it into three distinct sections using the localised 30-50-20 formula.
First, designate 50% to Essentials, which include fundamental requirements such as food, transportation, utilities, and basic family assistance. This guarantees stability.
Next, set aside 30% for Festive Activities, which will fund festivities, new clothing, gifts, and activities.
This helps you to completely experience the season.
Finally, set aside 20% for savings and 2026 investments to ensure you grow future wealth rather than starting the new year with a deficit. This disciplined structure enables you to celebrate cheerfully while maintaining your long-term financial health, ensuring that December's plenty drives January's growth.
Avoid impulse buying
The holiday season is packed with tempting "limited time" offers intended to elicit impulse purchases. To preserve your finances, set a tight 48-hour cooling-off period.
When you want to buy a costly item, such as new clothes, electronics, or accessories, commit to waiting two full days before making the purchase.
Most of these "urgent needs" will lose their emotional force and frequently vanish from your awareness after this interval.
This simple pause breaks the magic of brilliant marketing, allowing you to tell the difference between a genuine need and a momentary desire motivated by advertisements.
This discipline is your best guard against unfortunate holiday spending, ensuring that your money goes only towards goods that are important.
Use cash for social events, not mobile money
Social engagements can quickly deplete your pocketbook due of the misleading accessibility of mobile money.
To maintain control over your entertainment spending, stick to a basic cash-only method.
Before attending any party, withdraw a predetermined amount of hard cash to spend. When you leave the house, make a conscious decision to leave your MoMo wallet untouched for the duration of the event. This requires you to spend just the money you physically have in your palm. The tangible act of leaving with actual notes establishes a psychological barrier to overspending that a rapid, abstract MoMo transfer does not.
Celebrate “budget-friendly” Christmas
You don't need a large budget to have a rich and joyous Christmas.
Accept wiser, more cost-effective traditions that prioritise connectivity over price. Instead of costly large parties, host intimate gatherings with close family members in your home.
Rediscover and boldly repeat the stunning clothes that already exist in your collection. Join forces with friends or family to purchase group gifts for loved ones, sharing the cost and raising the gift's value.
Instead of expensive holiday overhauls, go with emotional, handcrafted decorations or basic, reusable ones. Most significantly, make cooking at home a primary activity, as a more meaningful and cost-effective alternative to frequent dining out.
Monitor Your “Susu” Contributions and Donations
Ghana has a strong festive attitude of generosity, and it is a great tradition to support extended family, friends, and the community. However, an open-ended attitude to "susu" contributions and donations might cause financial difficulty. It is critical to be charitable without causing financial hardship. Set a clear, definite "giving budget" at the beginning of the season.
When requests exceed your budgeted allocation, please refer to this budget with politeness and respect.
To protect your financial serenity, learn to say "no" or "I've already committed my giving for this season". True generosity is sustainable; it should bring satisfaction to both the donor and the receiver, rather than causing debt or regret.
The writer is a Senior Lecturer/SME Industry Coach, Coordinator (MBA Impact Entrepreneurship and Innovation) at the University of Professional Studies Accra
ayiku.andrews@upsamail.edu.gh
IG: andy_ayiku
@AndrewsAyiku
F: Andyayiku
