Publish Date: 07/03/2019
The holidays are meant to be a time where you kick off your shoes and relax. The sad reality, however, is that a lot of South Africans more are already worried about the financial stress the holidays tend to bring. Consider the higher-than-normal grocery expenses, gifts and travelling etc., and the festive season can seem more like a curse than a blessing.
I don’t know about you, but every time I go back to the village where I grew up, I always feel compelled to buy more so my parents can share with as many people as possible. Don’t even get me started on black tax! Many people want to help their families enjoy this time of year, which only adds to the financial pressure.
To add salt to the wound, your salary has to stretch from the start of the festive season until the end of the ‘silly’ season. That’s almost almost 45 days until your next payday!
According to a survey, most South African salaries last until the 15th of the month after paying for big-ticket items such as bond/rent, transportation, groceries, etc., which means that most consumers survive from payday to payday.
It is therefore important to plan how you will handle your finances during the holidays. Going in with a plan reduces your chances of overspending and having to worry about how you are going to make it through January.
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Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.