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 It’s possible to change your marriage regime

Many people wed before they sign an antenuptial contract (ANC). This is especially practiced by people in customary marriages and those not clued up about the ANC. The law says if there’s no ANC before the wedding takes place, the marriage will automatically be in Community of Property. 

Keep this in mind when taking out new financial products

Adding a product to your personal finance portfolio, such as insurance or an investment, is a big decision. We found out what you should keep in mind before taking out a new product, how you can assess the products you already have, and how you can generally improve your financial position.

Are you in debt denial?

With debt levels increasing at 13% more than income levels, South Africans are more debt-stressed now than arguably ever before. This is iterated by the National Credit Regulator’s (NCR) report that nearly half of credit-active consumers in South Africa have damaged credit records. However, only a few seek the necessary help.

Why should you invest in a mutual bank?

Often when people think about banking, they always think about commercial banks. Mutual banks hardly come to mind, but these banks offer investment opportunities that are often overlooked.

 

Deals

Aurora Spa 100-minute Treatment Special

Price: R449
When: Until 31 March
Where: Century City

Woodstock Grill and Tap Steak Thursdays

Price: R100
When: Thursdays
Where: Woodstock

KFC 5+5 Special

Price: R65
When: Until 25 February 2020
Where: Nationwide