South Africans urged to spend wisely in December
As consumers prepare for the longer-than-normal
gap before their next paycheck, financial experts have advised them to plan
ahead with their December salaries.
Some people are going to be paid as early as Friday the 13th.
It could mean a 49-day wait for those who receive their salaries at the end of the month.
Standard Bank's Shené Mothilal says it is important for people to draw up and stick to a budget.
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She says avoiding overspending this month can make the financial transition into the new year much smoother.
"The November salaries are spent faster than December's. December salaries last slightly longer, with customers taking two to three days on average to spend half of their income compared to November,” says Mothilal.
"The data also suggests that higher middle-income and high-income earners take nearly twice as long to spend half of their December income. Around eleven days compared to just six days for entry-level customers."
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