3 people share how they’re going through the 90 days of January.
January is the month of financial hangovers. The holiday season is over, and we’re all left with a pile of bills and expenses from the previous month. And to top it off, the new year brings a whole new set of unexpected expenses like higher healthcare costs, higher utility bills, and the need to buy new school supplies for the kids.
One of the biggest financial challenges people face in January is the strain on their budget caused by holiday spending. Many people overspend during the holiday season, leaving them with little money to cover their expenses in the new year.
We spoke to three people about how the month of January is treating them and the measures they are taking to stay financially stable.
Do you know the saddest thing in this world? Being laid off in the first week of the new year. This was me at the start of the year, and things have been difficult financially; all the money I spent in December now hunts me. I’ve been job hunting since then, and I hope something comes through soon. A former colleague recommended a dropshipping platform, which I plan to use to start an e-commerce store that would bring me some money.
Mercy Lamptey – National Service Personnel
I am living by grace. I started my national service program in November of last year. Ideally, all service personnel are to receive their monthly allowance, but unfortunately, for the past two months, we have not received any. Things have been difficult, and I have had to rely on a weekly stipend from my dad to cater for my transportation and other personal expenses. Luckily, at the end of the year, I was gifted GHS 650; this is what I have been surviving on this month. I’ve had to stop eating out. With the GHS 650 and the few expenses I have cut, I should be able to survive this month as I await my allowance for this month and the past two months.
Frank Boadi – Librarian
This month caught me by surprise. I love to keep track of my expenses. No money leaves my wallet unrecorded, and if it isn’t part of my budget for the week or month, there is no way I am paying for it. Things turned sideways for me this month with an unfortunate incident in my family at the start of the year. Due to the current financial situation of my parents as a result of the pandemic, I had to step in and cover the expenses incurred. However, it has taken a toll on my finances for this month. I’ve been living off my savings and have had to cut back on my expenses, while eagerly waiting for this month’s salary to be paid.