The festive season is the busiest time of the year and people tend to spend more money that they would normally do during the year. It dawns on them in January when they realise that they have spent all their money and they have to make means to prepare for the back to school supplies and school fees. Tabloid Newspapers took to the streets to find out from the public how they are preparing financially for the festive season and the new year.
Leah Judith Chetty
For me, spending this festive season is a big “no”. Instead, I am planning on saving as much as I can. You know, this year is not like any other year. I mean, we are faced with an unstable economy and food prices have gone way high. So I don’t have money to spend on costly, fun activities. Instead, I will plan for the year ahead, for instance, the month after December is January, the back to school month, and I have to prepare for children’s school needs and others financial needs.
I used to spend a lot of money on festive season shopping, but this time I decided to not spend money on buying things that are not of the important or needed. The cost of living has gone higher lately. Petrol recently reached an unprecedented hike, food prices are also high, especially meat prices has seen a unfamiliar hike. Given this tough economic situation we are faced with, one has to ensure that not even a cent is spent unnecessarily. Besides economic issues, prices usually go high during the festive season than during the course of the year.
Yes, I will spend money on festive holidays, as this is a time when I have to sit back and relax after working hard during the year. Spending money for festive holiday fun is not a bad thing, as long as you understand the depth of your pocket, you will know the limits of spending. For me, I have already done my budget, so I know how much to spend and I know how much to put aside for the time after all these celebrations are gone. It is true that moments such as Christmas holidays and New Year celebrations leave many people bankrupt, but you can’t feel the effect if you think smartly and spend wisely.
Charles Funeka Magaqa
It has become a norm to spend more money at this time of the year. I mean, it is something that has been a part of my life and I can’t avoid spending, as to most of us these holidays make for a good time for family reunions. This means you should have a bigger amount of groceries than normal, so that it is able to cater for the family and visitors as well. Yes, I am aware that times are changing as far as economic situations is concerned but one has to try to strike a balance between needs and wants.
Spending during festive season is unavoidable. Fortunately, I started working on my budget as early as between March and December to avoid thumb-sucking at the beginning of the new year.
If you do not budget wisely you will run out of cash and might get depressed and end up committing suicide. Well, I will continue to spend money during the festive season holidays because I got my children used to the habit of enjoying during this time.