The festive season is a time of joy, family and celebration. But it is also known for unnecessary spending on gifts, parties, travel and unplanned treats.
While it is important to enjoy yourself, remember that January often referred to as “Mamphara Month” brings school fees, uniforms, stationery, transport costs and debts that still need to be paid.
“Many people end up borrowing money or scrambling at the last minute because they allowed December excitement to take over their budgets.
“A practical way to protect yourself is to prepare financially before the new year arrives. One of the smartest options is opening a tax-free investment account,” said personal financial adviser, Nompumelelo Zulu.
“This type of account allows your money to grow without tax being taken on interest, dividends or withdrawals.
“You are not locked in, which means you can access your money when life gets difficult or unexpected expenses appear.”
Zulu mentioned that the biggest benefit is the peace of mind you gain, knowing that you have put something aside for your family’s future.
“Imagine saving just R3 000 during the festive period. By the time January comes, you already have something set aside to take care of school needs, household costs or small debts without begging, borrowing or stressing,” she said.
She said instead of starting the year with financial anxiety, you begin with stability and confidence. Zulu highlighted that celebrating should not mean sacrificing your well-being.
“Before spending on luxuries, put your family first. Save what you can, protect your priorities, and then enjoy the season knowing that the future is secure.
“A simple financial decision today can prevent unnecessary pressure tomorrow. Secure your family, then celebrate with a full heart,” she concluded.
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