#Summer17 Holiday Guide
pexels-photo-259200jpeg

3 tips on how to survive 'Janu-worry' after the festive season

We all feel it. Most of us got paid early, and partied hard...and now we paying the price.

How do we manage to find the money to survive 'Janu-worry'?

Personal finance expert Frank Magwegwe chats to Azania Mosaka about tips to recovering from the holiday spending binge.

Step 1 is facing reality and working out exactly what your shortfall is.

The first thing to do is work out 'what are my obligations?' and write them down.

Frank Magwegwe, personal finance expert

He lists things like school fees, stationary, transport money, lunch money, and rent.

And then look at the funds you have available.

Because sadly, year after year, in January, consumers come back and they have spent more than they should have spent because they didn't budget.

Frank Magwegwe, personal finance expert

Step 2: Be careful how you cover that shortfall

The last thing you must do is go to a pay day loan or pawn shops and give them your goods.

Frank Magwegwe, personal finance expert

He suggests family and friends is a preferable first port of call.

And if that doesn't work try the formal line which is banks, who have reasonable interest rates.

Frank Magwegwe, personal finance expert

He says avoid those organisations that give you loans at exorbitant interest rates.

Step 3: Access your free annual credit report

Magwegwe says this report will help you find out exactly who you owe.

Take a listen to more of this expert's sage advice below:


Recommended

by NEWSROOM AI
Read More
What's hot in Cape Town this New Year's Eve

What's hot in Cape Town this New Year's Eve

Now that Christmas is out the way, it's officially time to finalise those New Year's Eve party plans. The KFM Crew gives you the lowdown on some of the best places to be this NYE.

‘Only 3 out of 5 people do not modify their holiday recipes to be healthier’

‘Only 3 out of 5 people do not modify their holiday recipes to be healthier’

Mr Active also known as David Katz gives his top tips in maintaining a healthy lifestyle during the festive period.

A list of local books that are a must-buy for Christmas

A list of local books that are a must-buy for Christmas

Owner of Bridge Books, Griffin Shea chats to #WeekendBreakfast Phemelo about the different books to read this Christmas.

Going away? Tips on ensuring pet safety these holidays

Going away? Tips on ensuring pet safety these holidays

The SPCA has encouraged residents to take care in ensuring their pets are safe over the holidays.

[LISTEN]  Gadgets you may want to gift this festive

[LISTEN] Gadgets you may want to gift this festive

Tech guru Aki Anastasiou suggests a few gifts you may want to get for your family and friends.

NEW PODCAST: Be inspired by the story of Father Michael Lapsley

NEW PODCAST: Be inspired by the story of Father Michael Lapsley

This priest dedicated his life to the liberation of South Africa, and nearly died for it.

Popular articles
'She says I'm just waiting for this c**lie to move so I can take the photo'

'She says I'm just waiting for this c**lie to move so I can take the photo'

A caller on the Eusebius McKaiser Show, Zeenat says she was called a derogatory word for Indian on Heritage Day.

'This leaked document is calling a spade a spade'

'This leaked document is calling a spade a spade'

Breakfast Show Host Bongani Bngwa shares his views on the leaked report from the Thabo Mbeki Foundation.

[WATCH] Vietnam's The Bachelor uproar as female contestants run away together

[WATCH] Vietnam's The Bachelor uproar as female contestants run away together

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

WC DA leader refuses to hand over electronic devices as party probes media leak

WC DA leader refuses to hand over electronic devices as party probes media leak

Western Cape DA leader Bonginkosi Madikizela confirmed that he was asked to hand over his devices but he says that he refused.