Guiding consumers since 2009

Household spending down

By Staff Writer

With the continuing global financial crisis times are getting tighter and this is filtering through into reduced levels of household spending. A Dispatch report tells us that household spending fell in the first quarter of 2009 by 4.9%, according to the latest Reserve Bank Data. This means households are getting worried by the recession. So if cash is getting tight what can you do?

 

 

If every little bit is now needed as household spending drops, then you need to be aware of all of your expenditure so that you can spend what you have in the most efficient manner. Planning a budget will enable you to do this so that you know exactly what you have to spend and what it needs to be spent on. Get a cheaper deal on your credit card or pay it off with a balance transfer card. A balance transfer card gives you a low rate of interest to pay off your credit card debt, but new purchases will be charged at the regular higher interest rate.

Bank charges are expensive and can add up, a recent survey we conducted showed that 42% pay more than R200 a month in bank charges! This can be cut down on by using our bank account charges tool to find the best fit bank account for your particular spending profile. With the global recession expected to continue for the foreseeable future, make sure that you cut out all unnecessary expenditure, especially on your bank charges. Small savings can add up and these can translate into that nice bottle of red that you thought you would have to forego.

Recent Articles

Featured New homeowner? Be aware of these extra expenses

You’ve overcome all the hurdles of buying a home. You’ve managed to pay your deposit and your closing payments, and now you’re a proud title deed holder. However, there are other expenses waiting around the corner. Are you prepared?

Your biggest credit conundrums – answered

Understanding your credit health is one of the most important factors in managing your finances. This is because it gives you insight into your debt, your borrowing ability, and your financial history. While many understand this, there are still many questions on how to do just that.

Avoid debt collectors, choose debt counselling

There are two things you can do when you are struggling to pay your debt. You can either let your creditors hand your debt over to debt collectors – or you can let debt counsellors help you deal with your debt.

Retail notes: easy investment option for new investors

Being a newbie in the world of investing can be challenging because you don’t know where and how to invest. With so many investment options, you could easily be befuddled. Justmoney looks at how retail notes can help you cut your teeth in the world of investing.   

Deals

Translux Student Discount

Price: Depends on destination
When: Daily
Where: Nationwide

Zimbali Senior Citizens Discount

Price: From R1342.00
When: Until 14 December 2019
Where: KwaZulu Natal

Free meal for kids at Mozambik Restaurant

Price: Free
When: Until 15 November 2019
Where: Johannesburg, Durban, Pretoria