Be realistic – writing down a groceries list is the same way you would write down a budget. It might be a good idea to set your budget tight for festive spending as a way to curb over-spending. It would be necessary to shop around for better deals targeting discounted festive prices. While sticking to a budget, it is important to not get carried away when doing your shopping. Shopping lists come in handy and should be a guideline of what you need.
Reserve Bank Governor Lesetja Kganyago has given the last repo rate announcement of the year and the rate has remained unchanged. The year ends on a very interesting note given the abundance of local and international shock and scandal, from Zuma and his allies being exposed in the State Capture report and the infamous business mogul Donald Trump winning the US presidency.
It is easy to get carried away with our spending habits during the festive season, and it is often only at the end of the holidays that we realise the extent of all the extra expenses we incurred as well as the damage that our shopping impulses have done to our bank accounts, adding to the financial baggage.
Arriving at the festive season is both gratifying and daunting. On the one hand all the glare and glitter around the festivities are really exciting. But on the other there is that dreary feeling that all these things comes at a price, one that might just be out of reach.
Overspending is a big problem in many households with living expenses skyrocketing and the constant pressure you feel to “keep up with the Joneses”. These pressures you are experiencing are being amplified by the increasing exposure you are getting from social media platforms.
According to Dave Ramsey, an American financial advice enthusiast, “A budget is telling your money where to go instead of wondering where it went’’. In order to achieve financial freedom, successful planning, budgeting and spend tracking is required. Without implementing an appropriate budgeting and saving strategy, your risk of financial failure increases.
It is easy to lose the meaning and value of Heritage Day in South Africa. Many see it as a day to stay at home and have a good ol’ braai with family and friends. Let me take you back to the reason this day is honoured in this country.
Reserve Bank Governor Lesetja Kganyago, today announced that the repo rate will remain at 7%, which comes as no surprise to most of the nation especially with the South African Rand (ZAR) strengthening against all currencies. 2016 has been a year full of surprises, from the President paying back the money to the Finance Minister being investigated by the Hawks.
Seasons come and seasons go. Spring is here and it’s time for a fresh start for your finances. You know that old, old debt that you have almost forgotten about but still lingers in the back of your mind? Well, it is important to know that you may not have to pay that debt back anymore. This is due to a legal clause known as prescribed debt.
The management of debt has become increasingly difficult in the modern era. Access to debt is so readily available that we can easily forget the difference between money that is really ours and money that we borrow but have to pay back again. As these two become confused, we can find ourselves in a downward spiral into a seemingly bottomless pit