Don't be tempted by 'soft life' this festive season - NCR
South Africans are being advised to rein in their December spending amid stubbornly high inflation and rising interest rates.
The National Credit Regulator says consumers need to keep the rising cost of living in mind when drawing up their festive season budgets.
Spokesperson Didi Sebothoma says credit card spending should be avoided if possible.
"Don't spend money on soft, lavish style to impress others, throwing parties left and right, buying drinks for friends and their beloved ones.
"Make sure you create a festive season budget which is aligned to available funds and stick to it all the time."
Sebothoma warns reckless spending could result in blacklisting.
"For consumers who struggle to keep up with their monthly repayment bills, they should try by all means to avoid taking more credit.
"Remember the festive season is only a few weeks and January is just around the corner. So don't let soft life during the festive season lead to blacklisting in 2023."
