The economy, you and 2010

By Staff Writer

It is a New Year, a new year after a rather hard year before. 2009 was the year of the global financial crisis. There were a lot of people severely affected by the economic crisis. Jobs were lost, pay cuts were taken, and bonuses were a pleasant dream, just before you woke up. 2010 is here now but the future has always been hard to predict. So what can we look for?

 

 

  • Goodwill from the World Cup
  • Continued international stability issues
  • Possible monetary bubbles

 

The outlook for 2010 is one that could be better, but could just as likely go the same way as 2009. There are a lot of external factors at play here and the more that you can remove yourself from them, the better and easier your passage through the next year can be. This means getting your debts paid off, and not entering into any new credit agreements. In fact the key will be budget planning.

Planning a budget is a rather dull exercise, it's not fun, especially when you see how much of your hard earned cash has to go to just pay off the people that you already owe money to. It is tempting to just ignore your budget plan and hope for the best, but that kind of thinking was a huge contributor to getting us into this mess in the first place. There will be some good times to come in 2010 but be wary, as it could all change very quickly.

Recent Articles

Featured Your guide to debt counselling

The National Credit Regulator (NCR) reported more than 20 million consumers to be in debt in 2018 and 40% of them were behind with their payments. Due to the economic conditions in the country, many consumers find themselves incurring too much debt that they cannot repay.

Read more

Should you take a sabbatical this year?

In South Africa, sabbaticals are not as common among the general workforce – but they have become popular among executives and CEO’s. Justmoney finds out what a sabbatical is, how to convince your employer to let you take one, and how to manage your finances before and while you’re away.

Read more

A photographer’s journey into entrepreneurship

This week Justmoney chatted to this 25-year-old to understand what makes her tick, what her thoughts on money management are, and the financial advice she has for other young entrepreneurs.

Read more

Travel insurance through medical aid: Is it enough?

Having travel insurance as an added benefit with your medical aid is common practise, but what does it cover and is it enough?

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Steers Varsity Cup Monday Madness

Price: R59
When: Mondays
Where: Kimberly

Old Mutual Actuarial Bursary

Price: R0
When: 26 March - 30 May
Where: Nationwide

Tsogo SunBreaks Vacay Special

Price: R1,115 per room
When: 15 -31 March
Where: Gauteng, Cape Town, and Durban