Guiding consumers since 2009

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 to do when you’ve been denied a home loan

After months of scanning property sites and attending showhouse after showhouse, you’ve finally found what you’ve been looking for. But your dream of owning a home comes crumbling down when you receive the news that you’ve been denied a home loan. So, what now?

Can your retirement annuity be used as collateral for a loan?

If you have a retirement annuity, you may have wondered whether you can use this as collateral when you take out a loan. We decided to do the leg work and find out whether this is possible or not.

Best travel cards offered by top South African banks

Planning a trip abroad involves a lot of administration. You need to consider travelling arrangements, reasonable accommodation, and a daily itinerary. But have you considered how you’re going to pay your bills once you arrive? Besides considering bank costs, you also need to consider exchange rates.

Best ways to save your money short-term

For many, it seems close to impossible to save when spending on holiday getaways, Christmas gifts, while also trying to ensure there’s money left to survive January. Justmoney takes a look at the best ways you can save during the short term.

Deals

Takealot January Big Sale

Price: Available on request
When: Until 31 January 2020
Where: Online

Annique Restore Package Special

Price: From R600
When: Until 31 January 2020
Where: Centurion

Ster-Kinekor Senior Citizens Discount

Price: Available on request
When: Daily
Where: Nationwide