Tobaski, Koriteh and Christmas bring extra spending and extra risk. Practical tips on budgeting, avoiding debt, using cards and mobile money safely and recognising the scams that tend to appear at festive times.
Festive seasons such as Tobaski, Koriteh and Christmas are times of celebration, generosity and family. They also bring higher spending, more cash and mobile-money transfers, and a rise in scams that take advantage of the season. A little planning can help households enjoy the festivities without financial strain afterwards.
Plan and budget early
- Write down the main costs you expect, such as food, livestock, clothing, gifts, travel and contributions to family and community.
- Set a total amount for the season and agree it with your household.
- Start setting money aside in the months before, even in small amounts, rather than relying on last-minute borrowing.
- Remember regular commitments that continue after the festivities, including rent, school fees and loan repayments.
For example, setting aside a hypothetical D500 each week over several months spreads the cost and reduces the temptation to borrow at short notice.
Borrow with care
If you need to borrow, compare the full cost, including interest and fees, and make sure the repayments fit your budget once the season is over. Be cautious of informal lenders who charge high costs or make unclear demands, and never borrow to meet pressure to spend more than you can afford.
Keep cash and cards safe
- Avoid carrying large amounts of cash in crowded markets; take only what you need.
- Shield your PIN when using an ATM or card machine, and do not accept help from strangers.
- Keep your card in sight when paying.
- Check your statements and transaction alerts regularly, and report anything you do not recognise to your bank straight away.
Use mobile money safely
- Double-check the recipient’s number and name before confirming a transfer.
- Never share your PIN or one-time passcode, including with someone who says they sent money to you by mistake.
- Use registered agents and keep transaction confirmations until you are sure a payment has arrived.
Watch out for festive scams
Fraudsters often time their schemes to the season. Be alert to:
- Online sellers, including sellers of livestock or goods, who demand full payment in advance and then disappear.
- Messages announcing festive prizes, promotions or raffles that require a fee or your account details to claim.
- Calls or messages from people claiming to be relatives in urgent need of money; confirm by calling them on a number you already know.
- Fake charity appeals; give through organisations you know and trust.
Receiving money from abroad
Many families receive support from relatives abroad at festive times. Use regulated remittance channels, compare fees and exchange rates, and keep transaction references until the money has been collected.
After the festivities
Review what you spent against your budget, check your statements and plan for any repayments. Noting what worked this year will make planning easier next time.