Vendors and shoppers along Beckford Street show that business was in full swing in downtown Kingston on Sunday. - Norman Grindley/acting Photography editor

EVEN IN these gloomy economic times, Jamaicans have started to flood the malls and markets this holiday season and no doubt many will forget their budgets and spend more than they can afford.

This could leave scores of persons unable to navigate the troubled waters expected next year, and two local advisers are urging Jamaicans to think twice before they splurge on that unnecessary item or that jam session.

Prepare for 2009

While Dr Beverly Scott is not trying to put a damper on the festivities, she is urging Jamaicans not to overspend.

"(The year) 2009 is going to be a struggle and persons will find themselves facing financial challenges, so don't spend more than you have to," advised Scott, executive director of the St James-based National Parenting Centre.

"People need to understand that Christmas is just one day so they need to calculate how much they spend and make sure that you don't spend on things you don't need," Scott added.

She was supported by Dr Leahcim Semaj, who is imploring Jamaicans not to concentrate on consumption.

Semaj noted that while several companies have slashed or eliminated the traditional Christmas bonus, many Jamaicans are finding themselves with extra cash at this time of the year from remittances or other sources.

"I have often told persons that their bonus cheque is not a chance to increase consumption but instead, it is a chance to get a jump on next year," Semaj told The Gleaner.

Plan for bills

"When you get the extra money, take out the school fee, the uniform, the rent or mortgage and all of your critical bills. Then, if any money is left, treat yourself to something. If no money is left, then say thank God you have a jump-start for next year," Semaj added.

According to Semaj, too many Jamaicans come out of Christmas speaking of what they have bought and how much they paid for these items, while a minority ends the season counting how much money they made.

"Too often, persons get the bonus cheque and increase spending, putting them in a worse position next year," Semaj said.

So, the word is, have fun and enjoy the season, but be careful that you don't overspend.

arthur.hall@gleanerjm.com

Tips for enjoying Christmas withoutthe financial hangover next year

The very first thing to do is set a realistic budget which you are capable of sticking to over Christmas.

Make a list of your essential outlays this Christmas. Include gifts, groceries, cards, paint and all the other items you can think of.

Next, think of where you can get them the most economically, (market, manufacturer or do-it-yourself).

Add to your list all the parties and celebrations you will be attending over the Christmas period. For each of them, decide how much they will cost and only take that amount of cash. Leave your debit and credit cards at home.

Be wary of easy credit that can spell disaster in 2009.