Did you overspend this past festive season?

By Staff Writer
Earlier this year, many thought that South Africans were going to encounter financial hardship due to over expenditure the past festive season. However, Justmoney's January poll suggests otherwise with more than 40% of its polled users stating that they had resisted the urge to splurge this festive season because of tough economic times.

When asked the question "Did you overspend this festive season?" 43% of respondents replied with a recession busting "No, times are tough". While this information may come as a shock to many, it is news that hopefully transcended past opinion and resolution, and was put into practise by most ordinary South Africans.

"Hopefully, people have been as frugal with the festive season spending as this poll suggests they have been, but unfortunately our application stats for January may actually point to the opposite. We usually see a spiked interest for personal loans and short term credit over the January period, and last month was no exception" says Andy Gilder, General Manager of the site.

When asked the question "Did you overspend this festive season?" Justmoney users were fairly evenly split, although the majority pointed towards a well managed financial situation over the festive season.

The full results of the poll read as follows:

43% - No, times are tough
33% - Yes, but not as much as last year
24% - Of Course!

"We hope that those South Africans that did spend a little extra this Christmas have started the year by drawing up a budget and are planning to make amends for the monetary over-indulgence of the festive and holiday season - setting out a budget and sticking to it is the first thing every South African household should do in 2010."

Recent Articles

Featured What happens to the interest on your tax-free savings?

You may be interested in investing your savings in a tax-free savings account (TFSA). However, the amount you’re allowed to save in this kind of account is capped. So, what does this means for any interest you earn above the limit?

What does financial emigration entail?

Over the last couple of years, you’ve slowly been saving to move abroad. You’ve learned a new language, and mapped out all the places you plan to see. But should you take all your wealth with you?

6 Clever ways to spend your tax refund

After submitting your tax calculations to SARS, you may receive a tax refund. This is a tax break offered by SARS based on certain expenses. But what should you do with it? We have a look at six productive ways you can spend this money.

When to trade in your old car for a new one

You may have noticed that your car isn’t running as smoothly as it used to. This is particularly concerning if you’re hoping to sell it at a reasonable price, and buy yourself a modern alternative.

Deals

Full Body Massage at Meraki Beauty & Wellness Centre

Price: R99
When: Mondays to Thursdays
Where: Umhlanga

Archery and Drift Triking with Adventure Freaks

Price: R149
When: Mondays to Sundays
Where: Hartbeespoort

E-Bike Stellenbosch Wine Farm Tour and Wine Tasting

Price: R899
When: Tuesdays to Sundays
Where: Stellenbosch


Latest Guide

Guide to debt rehabilitation solutions