by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – SOUTH Africans have been advised against spending more than usual this festive season.
According to Standard Bank, the trend in November is largely driven by Black Friday, which encourages extended spending.
“In December, while salaries last longer, the financial strain is tied to early pay dates and the long gap before January’s payday,” said Shené Mothilal, Solution Owner of Digital Money Manager at Standard Bank.
Mothilal said the bank’s focus was on creating tools that supported customers in managing their finances better, especially during periods of financial strain.
“Understanding spending habits is crucial, especially during the festive season when budgeting demands increase. Tools like our Budget Manager and Money Movements provide valuable insights to help consumers budget effectively and avoid the post-holiday financial pinch,” she added.
The Budget Manager feature in the bank’s mobile app provides insights into spending habits, empowering customers to make informed decisions and allocate realistic budgets which factor in their likely festive spending.
The Future Payments feature projects upcoming expenses over the next 14 to 30 days.
– CAJ News