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Financial Literacy
1. Saving 101
2. Budgeting
3. Hustle 101
4. What is financial planning?
5. Five Money Habits of Never-Broke Women
6. Building Intergenerational Wealth
7. Managing Your Debt
8. The Relationship Between Finances and Mental Health
9. The Impact of Finances in Relationships
10. Managing Risk
11. Managing Personal Finances During Festive Season

Spending throughout the holidays shouldn’t leave you with a financial “Hangover” in the new year.

According to the sixth annual Summer Spending survey from payday lender Wonga, over the holiday season, South Africans are anticipated to spend more than R226 billion, an 11% decrease from 2021. Consumers in SA are allocating an average of R5,968 per for unforeseen costs over this time, which is 6% less than previous year. More than 8,500 South Africans participated in the poll and provided information about their Christmas travel plans, favourite activities, gift ideas, and spending estimates. Nearly 40% of people will use their savings, 28% will use their stokvel pay-out, and 36% would use their bonus to find the extra money to spend. The fact that 20% of respondents claimed they would borrow money to pay for their holiday spending is concerning.

What are the things that make up the chunk of expenses during festive season

  • A large portion of spending are for food and drinks
  • Travelling
  • Gifts

 Guidelines for managing your budget during the holidays

  • Draw up a Christmas budget, be realistic and stick to it
  • Pay all your bills on time
  • Track your spending
  • Avoid taking up loans during the festive season
  • Share the responsibility of hosting guests, for an example ask everyone to bring one item
  • Give your time as a gift
  • Save for January

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