Guiding consumers since 2009

Are you still going shopping?

By Staff Writer

New data released by Statistics SA has shown that the retail trade has dropped off in the first three months of 2009 by 2.9 percent in real terms. The drop off comparing March 2009 to March 2008 is a staggering 5.3 percent lower. This means that less folk have got the cash to go shopping. So if you want to be able to still go out to the shops now and again, what should you do?

 

 

These figures are a bit of a shocker and plainly show that there is just not as much money floating around as this time last year. The numbers show a drop if held to constant prices from 2008, which means that if you take out the effect of inflation then people are buying less than before. These sort of figures suggest that the economy is contracting raising fears of a recession. In conjunction with these numbers manufacturing output was also down indicating that fewer goods are being made, which shows us that even less is expected to be sold in the next few months.

If you put together retail sales and manufacturing output this makes up a sizable portion of our Gross Domestic Product or GDP, somewhere in the region of a third. So we can surmise that a third portion of our economy is already in decline. So if you really do need to spend make sure that your budget is up to date, shop around and compare your credit cards to make sure you are getting the absolute best interest rate and best value card. We can expect the economy to falter further so don't splash out just yet, in fact put some money away and it will come in really handy when the economic outlook starts to improve again.

 

Recent Articles

Featured It’s possible to change your marriage regime

Many people wed before they sign an antenuptial contract (ANC). This is especially practiced by people in customary marriages and those not clued up about the ANC. The law says if there’s no ANC before the wedding takes place, the marriage will automatically be in Community of Property. 

Keep this in mind when taking out new financial products

Adding a product to your personal finance portfolio, such as insurance or an investment, is a big decision. We found out what you should keep in mind before taking out a new product, how you can assess the products you already have, and how you can generally improve your financial position.

Are you in debt denial?

With debt levels increasing at 13% more than income levels, South Africans are more debt-stressed now than arguably ever before. This is iterated by the National Credit Regulator’s (NCR) report that nearly half of credit-active consumers in South Africa have damaged credit records. However, only a few seek the necessary help.

Why should you invest in a mutual bank?

Often when people think about banking, they always think about commercial banks. Mutual banks hardly come to mind, but these banks offer investment opportunities that are often overlooked.

 

Deals

Aurora Spa 100-minute Treatment Special

Price: R449
When: Until 31 March
Where: Century City

Woodstock Grill and Tap Steak Thursdays

Price: R100
When: Thursdays
Where: Woodstock

KFC 5+5 Special

Price: R65
When: Until 25 February 2020
Where: Nationwide