In this HR Pulse featured article, DebtSafe warns consumers to be careful about over spending during the holiday season. “Although the fuel price has decreased, the South African economy is under heavy strain,” says Wikus Olivier.
In a survey done by the company earlier this year, statistics show that 51% of the participating respondents were not able to meet their minimum debt repayment requirements. 13% of respondents indicated that they couldn’t make ANY payment after the December holidays.
“Before spending money on travelling or expensive trips and gifts, make sure you don’t have large financial concerns in the beginning of the New Year,” he says.
“It is easy to overspend and overlook a lot of costs when travelling. For an example, if you drive a petrol vehicle, do the calculations of what the petrol decrease really mean to your budget. If your car’s tank takes 60 litres of petrol, you will save an average of R20 per tank,” Wikus adds. For some households this means having money to buy milk and bread, against having nothing.
Read about Wikus’ tips on how to save fuel while travelling.