Your expenses during the festive season may double
During this period, you need to juggle both your daily expenses as well as your festive spending. Without an additional budget to fall back on, all the purchases you make during this period could take a strenuous toll on your regular finances as well as your savings.
It’s important to be prepared for emergencies
Resolving the problem of overspending during the festive season is not as easy as doubling your savings in the following months. Anything can happen, and extra finances are necessary to tackle any potential emergency.
When it’s all over, life goes on as usual
Even after the festive period ends, there will still be regular bills and loan repayments to see to. While you will be spending somewhat less than you did during the festivities, your holiday spending could put a dent in what you typically set aside to cover these expenses.