National Debt Advisors has cautioned consumers against credit buying, especially over the festive season.
NDA did a quick calculation to show consumers what the real cost of their spending might be, should they be using credit to fund purchases. “South Africans are notorious for being poor savers. This has undoubtedly been exacerbated by the pandemic. However, it makes sense to rather save R500 monthly over a period of 10 months to be able to afford that same television, than accessing credit and possibly paying more than double for your purchase.”
Look around for essential items that you can save money on, especially when buying in bulk. Add it to your list and include it in your budget.
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