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 Times are tough, but keep your debt under control

While the whole world is going through a rough patch, you may also be feeling the pinch. With the country in crisis, it may be difficult to keep up with your debt instalments. However, abandoning your debt obligations is not the solution.

Debt Series Part 2: Interest rates - unpacked

In the second part of our Debt-ucate series we explore interest rates –from how to get a better rate to what influences it, and how this affects the cost of your debt.

Debt counselling – the two sides of the coin

Being overindebted doesn’t just put a strain on your personal finances; it also puts a strain on your state of mind. The best solution is to start the process of debt counselling so that you can escape the debt cycle. But what are the ups and downs of joining this debt relief programme?

Travel ban – how to claim for the loss incurred

As with the recent Covid-19 pandemic, governments sometimes issue travel bans to prevent people from travelling to other countries. This becomes even more complicated if you’ve already planned and paid for your trip. Your flights will be cancelled, and you may lose money from cancelled accommodation arrangements. How do you claim for the financial losses incurred due to a travel ban?

Deals

Get 30% back when you fill up with your Absa card

Price: Available on request
When: Daily
Where: Nationwide

Get 50% back in eBucks when you apply for an FNB home loan

Price: Available on request
When: Daily
Where: Nationwide

Get 50% off your online fees when you pay with Capitec card

Price: Available on request
When: Daily
Where: Online