The 12th month of the year is characterized by festivities and celebrations. Presently,the atmosphere has transformed into that of Christmas. Homes,schools and corporate organizations are now wearing new looks to clearly mark the season,a time when Jesus Christ was born. Markets and shopping malls reposition to meet the ever increasing demands of consumers during this period.
Interestingly,the celebrations this year would in a way involves the Muslim faithful,as both the Christmas and the Muslim celebrations fall within the same period. Christmas is the 25th day of December,while the Ed el Kirbie festival is on the 19th of the same month.
Expectedly the season is trailed by heavy financial commitments for both individuals and families. Starting from the purchase of gifts and greeting cards for family members and friends,to new clothes for the children and wards,the budgets for food,drinks and other forms of refreshments,aside form the daily budget,is an indication that more money would be needed this period.
In addition, a sizable number of families would have to include travel budgets,as most,usually embark on long trips to visit parents and loved ones in their country homes or places of interest.
This brings to the fore the fact that the last and first months of the year come with huge financial obligations,which individuals and parents find difficult to avoid. The worrisome challenge is the desire to be financially disciplined,during the celebrations. Financial budgets are usually daunting,although this might not be a source of worry for those who operate a target savings account. This indeed is the source of the extra cash needed to meet the expenses of the yuletide.
Target savings account is designed by most banks to assist customers to save towards achieving-a desired goal,or objective be it vacation,holidays,weddings etc.
An early start is necessary,when consciously saving towards a targeted goal,as it means you actually have to save less per month,than if you start later.
Curiously, your savings account must have a target,such as ”Christmas gifts or new clothes for the children”,as this makes the purpose of the money very clear.
Sadly, a considerable number of people seldom plan ahead especially for Christmas expenses and even about life generally,resulting in financial difficulties in meeting their obligations,at the end or the beginning of the year.
However,if you did not embark on any savings plan for this year,do not despair,confront the challenges headlong,but start now to make plans for the next season. Remember it is never late to start saving.
There are several banking products by banks to support your plan. Take advantage of this and start saving.