FNB on festive season financial freedom
ALEXANDRA – Always budget with festive season expenses in mind
Financial freedom should always be uppermost in our minds particularly in the festive season when there tends to be laxity in control and spending.
This according to financial giant First National Bank at a time when cash liquidity will see many tempted to spend without control and future financial security in mind.
In a statement, the bank said, “The topic ‘financial freedom’ should go a long way especially in today’s tough economic environment. “While we try and reduce the financial burden we often find ourselves swamped with unnecessary or unexpected expenses that often cause a hole in our wallets.”
Its product head for money management, Ester Ochse said managing finances should be a standard priority and an ongoing process. “Spending time with our loved ones over the holiday season is exciting, but sometimes our financial circumstance puts a damper on the holiday spirit.
“However, this can be avoided if we manage finances properly throughout the year.”
This she said should be through, “Ongoing financial reflection to help identify what has worked and what has not worked for us financially throughout the year. This will enable one to find solutions to better manage finances and avoid a situation of not enjoying time with loved ones.”
She urged citizens to update and review regularly their daily and monthly expenses in order to have an overview of their financial standing for the year. “A list of savings goals will guide you to draw the budget. “The holiday season is famous for entertainment, family outings and gatherings, short weekend getaways and festive season shopping sales. “So, ensure to factor these short-term goals into the budget.”
Ochse urged those who are financially strained to rather host a family get-together or bring and braai or movie nights at home instead of going out. “It will help you to cut costs while you enjoy your family’s company in the comfort of your home.”
She said managing finances need not be a tedious activity. “The key to ensuring your financial stability is to continually review and stick to the budget.”
Related Article:
https://www.citizen.co.za/alex-news/94741/12-financial-habits-secure-prosperous-new-year/
