Attending events—concerts, birthdays, weddings, or just a fun night out—can quickly drain your finances if you’re not careful. You set a spending limit, but somehow, by the end of the night, your bank account tells a different story. The ticket was just ₦10,000, but then came drinks, food, transport, and impulse purchases, leaving you broke until your next paycheck.
For context, being “broke” means if you lost your primary source of income today, you wouldn’t be able to sustain your usual lifestyle. This isn’t just about financial mismanagement—it’s about the psychology of money
1. The Fear of Missing Out (FOMO) and the Fear of the Future Is in Control
FOMO influences spending decisions by making you feel like you have to keep up. When you see friends upgrading their tickets, buying expensive drinks, or splurging on event merch, you’re tempted to do the same—even if it’s beyond your budget. Also, the fear of not being able to catch up in the future takes you off your budget. Statistics prove that 41% of people spend money on events or gatherings only because they are worried about not being able to be invited again in the future.
Solution: Set a strict spending limit before the event and stick to it. Budgeting apps can help you track your expenses and lock funds to prevent overspending.
Also, change your mindset and stop worrying about things not in your control. Whether you get invited to a party in the future is not yours to control, but your financial life is yours to control.
2. Digital Payments Make Spending Feel Less Real
When you withdraw 10,000 Naira and you spend it in a day, it’s easier to know how much you spend. Using cash makes you physically see and feel money leaving your hands, reinforcing the reality of your spending. Digital payments, however, create a disconnect. A simple tap or transfer doesn’t trigger the same psychological response, making it easier to overspend.
Solution: Use a savings app to set a digital spending cap. Decide how much you’ll spend at the event and limit your transactions accordingly.
3. You Underestimate “Small” Expenses
It’s rarely the big-ticket purchases that leave you broke—it’s the accumulation of small, unexpected costs.
₦2,000 for drinks
₦3,000 for food
₦5,000 for a last-minute VIP upgrade
₦5,000 for Uber surge pricing
These “minor” expenses add up fast.
Solution: Plan for every possible expense—transport, food, and even impulse buys. A structured budget ensures you aren’t caught off guard.
✔ Pre-set a spending limit and track it. Soon, FunZ will help monitor your expenses in real-time.
✔ Use a controlled digital wallet or cash. Avoid linking your main bank account to your event spending. If possible, create a different account for your expenses.
✔ Skip unnecessary purchases. That overpriced burger? You don’t need it.
✔ Buy tickets early. Event prices always increase closer to the date.
Enjoyment is essential, but financial responsibility ensures you can keep having fun—without regretting it later. Let FunZ help you party smarter, not harder.