Spend wisely this Christ­mas

Vuk'uzenzele - - General - Al­li­son Cooper

DON’T MAKE the dreaded mis­take of spend­ing more money than you have. “Do not spend what you do not have.”

The fes­tive sea­son does not have to leave a spi­ralling hole of debt in its wake.

“Over­spend­ing is like that ir­ri­tat­ing debt peb­ble in your ‘fi­nan­cial shoe’. It is best to avoid any over­spend­ing this Christ­mas be­cause it can have ma­jor im­pli­ca­tions on your cash­flow and bud­get in the long run,” said DebtSafe’s mar­ket­ing and sales man­ager Matthys Pot­gi­eter.

“That lovely feel­ing of over­spend­ing in Novem­ber and De­cem­ber is short lived and con­sumers will feel the strain of their im­pul­sive choices by the end of Jan­uary 2019. Do not spend what you do not have,” said Pot­gi­eter.

African Bank’s Mel­lony Ra­malho says em­ploy­ees of­ten get paid early in De­cem­ber, mak­ing the wait for their Jan­uary salary much longer.

“Jan­uary is a tough month for a lot of peo­ple, with some re­sort­ing to credit cards with reck­less aban­don or tak­ing out a loan. It is im­por­tant to stay con­scious of what you spend. Rather pre­pare a bud­get to avoid over­spend­ing,” said Ra­malho.

Pot­gi­eter ad­vises con­sumers on how to keep their bud­get un­der con­trol:

• Stock your fridge and pantry with long-last­ing in­gre­di­ents

Con­sider car­pool­ing. Us­ing less cars means us­ing less fuel money

• Avoid toll routes where pos­si­ble

In­stead of buy­ing gifts, let the kids bake per­son­ally de­signed treats for loved ones

Start your christ­mas shop­ping early.

This year, the DebtSafe team is en­cour­ag­ing con­sumers to con­sider us­ing plain brown pa­per as wrap­ping pa­per, which is af­ford­able and en­vi­ron­ment friendly.

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