{"id":58580,"date":"2023-12-26T16:06:14","date_gmt":"2023-12-26T16:06:14","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024"},"modified":"2023-12-26T16:13:12","modified_gmt":"2023-12-26T16:13:12","slug":"budgeting-tips-for-south-africans-ahead-of-2024","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024","title":{"rendered":"Budgeting tips for South Africans ahead of 2024"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South Africans have experienced severe financial strain over the last year, and to avoid future troubles, WesBank has provided a host of tips.<\/p>\n

With the holiday season in full swing, it is paramount that consumers exercise caution and do not overspend, as this can have long-lasting consequences.<\/p>\n

Lebogang Gaoaketse, WesBank\u2019s Head of Marketing and Communication, said that overspending could force individuals to play catch-up with their finances in the following months.<\/p>\n

With this in mind, here are several tips to help maintain financial well-being over the festive period<\/p>\n

1. Utilise early December pay cheques for January expenses<\/p>\n

With offices closing earlier, companies often pay their employees earlier in December. It is thus essential to allocate enough pay for expenses due in January.<\/p>\n

\u201cWhile some individuals may view the early windfall as extra money for holiday activities, doing so may negatively impact their financial situation in the new year,\u201d WesBank said.<\/p>\n

\u201cBefore spending extravagantly on unbudgeted holiday activities, it\u2019s vitally important to ensure that you have sufficient funds to honour all your debit orders that are payable before your next pay cheque.\u201d<\/p>\n

2. Avoid cancelling debit orders<\/p>\n

In tough times, South Africans may cancel their debit orders to utilise additional funds for other obligations.<\/p>\n

\u201cHowever, this practice can lead to more debt in January as missed payments result in double debits. It not only puts pressure on consumers at the beginning of the year but also harms their credit record.\u201d<\/p>\n

3. Draw up a Festive Season shopping list<\/p>\n

Going to a shop without a list can often lead to impulse buying.<\/p>\n

Lists can thus help consumers set a budget that will help them focus on the things that they really need while ensuring spending remains within their means.<\/p>\n

4. Don\u2019t spend money you do not have<\/p>\n

People anticipate annual bonuses and spend money with credit to make their purchases in advance whilst repaying debts when they get their bonuses.<\/p>\n

\u201cHowever, this approach carries significant risks. It is wiser to spend money that is already at one\u2019s disposal. This is particularly crucial in the current uncertain economic climate, where businesses may struggle to provide bonuses to their employees.\u201d<\/p>\n

5. Plan affordable trips<\/p>\n

Spending time with family does not have to break the bank, and South Africans should find reasonable places to accommodate their family, such as self-catering facilities to reduce costs.<\/p>\n

\u201cCareful planning and responsible spending are far more rewarding than taking advantage of festive deals or using additional credit facilities to satisfy impulse purchases,\u201d Gaoaketse said. \u201c<\/p>\n

Instead, save up for the year ahead and try to live a credit-light lifestyle \u2013 one where you only use credit facilities for the absolute necessities and have enough money to pay your loans as well as spend on yourself and loved ones when needed.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South Africans have experienced severe financial strain over the last year, and to avoid future troubles, WesBank has provided a host of tips. With the holiday season in full swing, it is paramount that consumers exercise caution and do not overspend, as this can have long-lasting consequences. Lebogang Gaoaketse, WesBank\u2019s Head of […]<\/p>\n","protected":false},"author":84,"featured_media":58578,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-58580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nBudgeting tips for South Africans ahead of 2024 - South Africa<\/title>\n<meta name=\"description\" content=\"South Africans have experienced severe financial strain over the last year, and to avoid future troubles, WesBank has pr ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budgeting tips for South Africans ahead of 2024\" \/>\n<meta property=\"og:description\" content=\"South Africans have experienced severe financial strain over the last year, and to avoid future troubles, WesBank has pr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-26T16:06:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-26T16:13:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/12\/sm_1703594516.337013.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Budgeting tips for South Africans ahead of 2024\",\"datePublished\":\"2023-12-26T16:06:14+00:00\",\"dateModified\":\"2023-12-26T16:13:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024\"},\"wordCount\":477,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/12\/sm_1703594516.337013.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/budgeting-tips-for-south-africans-ahead-of-2024\",\"name\":\"Budgeting tips for South Africans ahead of 2024 - 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