How To Prevent The Financial Hangover This Festive Season

The festive season is traditionally a time for family gatherings, outings with friends, travel and Christmas gifts. But don’t let the upcoming festivities lead you astray when it comes to your budget, and perhaps your waistline. “Special occasions like the festive season are a great way to let your hair down and celebrate with your loved ones. But it’s important not to get carried away and forget the savings goals you set for yourself at the beginning of the year.

This festive season is an ideal time to harness the power of your collective to both share and contain your festive spending,” says Rapule Mahlangu, Head of Associations and Affinity Groups at Metropolitan. The company’s ‘We Start 2023 Stronger Together’ campaign encourages Mzansi to harness the power of ‘their collective’ by setting shared goals with family members, friends, colleagues and community members to enjoy a stronger and more prosperous year together. 

With 2023 nearly ending, after being such a challenging year for consumers, Mahlangu shares some budget-beating tips to manage your festive spending.

Conserve Fuel if You are Travelling

Managing your fuel consumption is a good place to start, especially if you’re travelling this weekend. While the roads over the festive season can be extremely congested and frustrating for drivers, reckless driving and excessive speed only serve to increase your consumption and deplete your wallet. Maintain a steady speed, accelerate gently, reduce unnecessary weight in your vehicle and, if you can, switch off your air conditioning. Don‘t forget to obey the speed limits - they not only help you save fuel but keep you safe.

Have fun on a budget

With unlimited holidays and children home from school, you may be tempted to indulge in a series of excursions and treats to keep everyone entertained. But, if you have budget constraints find out what’s going on in your community, neighbourhood or city over the upcoming weekend. You may find some fun and free activities that will keep everyone entertained. “It’s not always necessary to rack up big bills on eating out or going on expensive excursions. Some of the most memorable times are simply lazy days spent on the beach or the park or around the pool with friends and family,” says Mahlangu. Take advantage of the last of summer by spending time outdoors in nature soaking up our Mzansi magic. 

Family gatherings on a budget

“If you’re hosting your family’s festive celebrations, this is a great time to harness the power of your collective with a truly communal gathering,” suggests Mahlangu. South Africans are known the world over for their braai culture, so host a boring and braai, or divide and conquer by asking everyone to bring a dish and their own refreshments to lighten your load. 

Get the most out of Christmas Deals

You are no doubt being overwhelmed with by Decemberdeals and offers from your favourite retailers and e-commerce platforms. Before heading to the shops or clicking your mouse, make a list of what you want to buy in order of importance. “While it feels good to pay less, it’s not a good deal if you don’t need it. When being bombarded by discounts and bargains, it’s important to stick to your budget and priorities,” cautions Mahlangu. If you have reward points, now is a good time to redeem them and save even more festive specials without dipping into your budget.  

“Don’t let the weekend’s celebrations leave you feeling blue when you reconcile your budget. Plan, spend wisely and revisit your squad savings goals - I can start strong, but we will always start stronger,” reminds Mahlangu.

For more information check out www.metropolitan.co.za or follow the official social media pages:

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