How to Avoid a Carnival Cash Burn Out?

Coming out from the cash exhausting, end-of-year holiday season, and straight into the ‘pay-off-your-credit-card’, and ‘clear-your-debt’ months, we must have a financial plan in place if we wish to participate in this year’s Carnival season, comfortably.

Let’s be real, many of us cannot go to every fete, every ‘pump’, still play J’ouvert and ‘jump-up’ in the most popular ‘Mas’ bands; although some of us do, literally at all costs. We need to be strategic and still get the best out of the season without incurring debt, or putting ourselves through another few months of playing catch up, with our finances.

Here’s a quick fix to your Carnival Burn this season. 

Step One – Set a budget and stick to it. How much do you have to spend on Carnival events? Separate your needs from your wants, and ensure you cater for any foreseeable expenses after Carnival. Ensure as much as possible that you do not incur significant debt, that you cannot comfortably repay, or are forced to take a loan, that will put you in further debt.

Step Two – Have your Carnival Fete Calendar handy and plan the events you wish to attend and participate in with your friends. Remember that when attending events consider all costs upfront. Is this an all-inclusive event or do I need to cater for food and drinks? What about the outfit? Do I need to get a new outfit? How am I going to get there? Do I need gas money? Do I need to pay the maxi or taxi?

Remember, everything adds up. Here’s a guide to get you started.

Step Three – Stay Healthy. Treating with Illness also incurs a cost when you have to visit the doctor or purchase medicine. Stay hydrated. Eat well. Exercise regularly if you plan to play in a band or engage in a series of events back to back. Ensure you get enough sleep or rest. Ensure you take your vitamins and practice good hygiene.   

Step Four – There is life after Carnival. Ensure you cover all your necessary expenses first before you spend on other activities. Practice safety at all times and enjoy the season, economically.

Have a Smart, Safe & Enjoyable Carnival Season!