In many Ghanaian homes, offices, and WhatsApp groups, there are a number of familiar jokes that come alive every year after the fireworks fade. It is very popular to read or hear “January is not 31 days, it is 90 days.” “We have January East and January West,” among others.
People say it laughing, but behind the humour is a reality of their painful truth. January feels unusually long because pockets are empty, debts are knocking, school fees are due, and the excitement of December has quietly packed its bags, but the next payday looks very faraway.
But a chartered banker and financial literacy coach Patrick Baah Abankwa, says January’s reputation has little to do with the calendar and everything to do with how people behave in December.
In an interaction with The High Street Journal, he shares practical ways Ghanaians can enjoy the festive season without turning into a survival mode in January, and hence blame the innocent month for being too long.
December: The Month That Tests Our Discipline
December is a special Month. For many workers, it comes with extended holidays from around December 24 to early January. He reiterates that there are discounts everywhere, end-of-year bonuses, weddings, funerals, beach trips, family reunions, and an endless list of social events.
According to Patrick, most shops and FMCGs roll out Christmas bonanzas, with price cuts ranging from 10 percent to as high as 70 percent. Add Black Friday into the mix, where prices drop sharply, and temptation becomes almost impossible to resist.
Amid these price cuts, he warns that reduced prices do not automatically mean smart spending. Most people confuse discounts with savings and hence go on a shopping spree since prices are lower.
The Trap of ‘Overbuying’
He observes that one common mistake during the festive season is buying things simply because they are cheap.
People walk into malls and supermarkets with no plan and come out with items they never intended to buy. Some of these items end up unused, forgotten in cupboards, or even spoilt.
Closely linked to this is spending money on things that would never be considered at full price. The discount becomes the reason for the purchase, not the need.
In the end, the money is gone, the excitement fades, and January arrives with bills and responsibilities still intact.
He says, “people “over buy” things they would not ordinarily need. Many people rush to major supermarkets and malls to overbuy items that do not fall under their needs. In some cases, the price reduction alone entices some people to pick items and later find no use for them at home.
When Salaries and Bonuses Disappear Too Fast
December salaries often come early. Some employers even add bonuses. Sadly, many people treat this extra money as “free cash” meant to be exhausted on fun and impulse buying.
By mid-January, reality hits. Rent, utilities, transport, and school fees return, but the money is gone. Some people are forced to borrow, beg friends, or even sell personal belongings just to survive.
This cycle, Patrick Baah Abankwa says, is avoidable with simple discipline.
He stresses that, “Do not discipline yourself to save from January to November and splash all in December with the mindset of Bonanzas and reduced to clear.”
The Hidden Cost of a ‘Hard’ January
Beyond empty wallets, a financially stressful January comes with emotional and health consequences.
Financial pressure can lead to anxiety, depression, sleepless nights, strained relationships, and even unhealthy coping mechanisms such as substance abuse. Over time, these can escalate into serious health problems.
“We waste all these monies on so-called fun-filled programs and unplanned purchases and come back to reality in the middle of January. Some even resort to selling their belongings to make ends meet,” he recounted.
He adds, “If care is not taken, we will end up having medical conditions when realities hit us in January. Financial challenges cause depression, anxiety, weight loss, strained relationships, and insomnia. If you are not able to manage the aforementioned consequences, it can lead you into substance abuse and finally heart diseases.”
Simple Rules to Stay Sane This Christmas
To avoid turning January into a 90-day marathon, he recommends a few practical steps:
Buy Needs, Not Wants
Festive enjoyment does not require buying everything that catches the eye. Focus on essentials and limit impulse purchases.
Use the 50/30/20 Rule
Allocate 50 percent of income to needs, 30 percent to wants, and save or invest at least 20 percent, even in December.
Plan Your Fun
Travel, family visits, and celebrations are important, but only after considering what January will demand financially.
Remember January Before Spending in December
Parents, especially those with school-going children, should factor in fees and supplies before splashing cash.
Enjoy December, But Respect January
He admits that December is meant to be fun-filled, restful, and memorable, adding that no one is saying skip the celebrations or sit at home while others enjoy.
The key, according to Patrick Baah Abankwa, is balance. He stresses that do not discipline yourself to save from January to November and destroy everything in December. With little planning and restraint, January can remain what it truly is on the calendar, just 31 days, not a financial nightmare stretched to 90.
