The last year has been a tough one, South Africa entered the first recession it has had in many years. People are feeling the strain, companies have closed down, retrenchments have grown, the debt burden is becoming larger, and inflation has pumped the prices in the shops above what earnings have risen by. All very scary news, but with real effects on real people like you. You can, however, survive the recession and here are a few things that you can do: With the festive season coming and for a lucky few the prospect of bonuses, just because the year has been hard, do not make next year any harder. We are suffering under a debt burden here in South Africa and any extra monies that you get should rather be spent on paying off your debt rather than on consumer goods that are generally wants rather than needs. In order to know what you really need as opposed to what you want you need to plan a budget. When you plan a budget, properly, accurately, honestly, then you will see what you spend and whether that is really something that you need or just something that you want. It may suck, but this is a time of austerity. If you are heavily indebted, do not splurge to feel better, it will only bring you a massive debt hangover come New Years, rather contact a professional debt management company and get your debt and spending under control. Times are tough and the World Cup is not a magic bullet. Plan for the future today to have a future tomorrow. |
