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 Debt consolidation – Explained

Dealing with debt can be daunting. If you’re struggling to keep track of which store account to pay next and weighing up which credit card is more important to settle first, you may have considered debt consolation. At Justmoney, we’ve decided to get down to the basics and explain what this entails and what impact you can anticipate on your credit score.  

Read more

3 Vehicle financing options compared – which is cheaper?

Buying a car is a considered a milestone, both in life and financially. Unless you’re able to fork out the cash, many opt for financing. But often the excitement to drive it off the showroom floor overshadows the need to check if you’re choosing the most-suited option. To help you make the best-informed decision we compare available vehicle financing structures in South Africa.

Read more

Splitwise: Split the bill not the friendship

Collecting your friends’ debt to you can be draining. You don’t want to ruin your friendship with them, and it can also be extremely awkward. I don’t know how many times I have written, deleted, and rephrased texts, reminding people to pay what is due to me.

Read more

Stokvel-friendly accounts – which one is fair?

The stokvel economy is approximately worth R49 billion in South Africa. This is according to the National Stokvel Association of South Africa (Nasasa). Altogether 24% of these stokvels are in Gauteng, while only 6% are in the Western Cape.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Save with 10X investments

Price: Free
When: Until 30 June
Where: Online

Sanlam Cumulus Investment Plan Limited Offer

Price: From R2,500
When: Limited Period
Where: Nationwide

Roman's Pizza Special-Single Large Pizza

Price: R69.90
When: Until 31 July
Where: Nationwide