Make a budget and stick to it - economists

Published Jan 12, 2009

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Sentiment on the economic climate in 2009 appeared to be bleak, if results of a recent online poll were anything to go by, personal finance commentators said on Monday.

The website Justmoney.co.za said that according to a recent online poll, only 22 percent of South Africans thought things were going to get better when it came to the South African economy.

Justmoney.co.za asked its users the question: "What can we expect from the local economy in 2009?"

It said the results showed that South Africans were cautious about the year ahead, with 56 percent of people saying that things would remain as tight as last year or become even worse.

Nearly a quarter of the people quizzed said they had no idea what to expect from 2009.

"The trend for the start of the year has shown a sharp increase in applications for personal loans and credit cards and it would suggest that people are looking for money to cover their debts and holiday indulgences," Justmoney's Andy Gilder said.

Gilder said that if people wanted to improve their own financial situations for 2009, they should draw up a budget and stick to it.

"If they haven't already done so, people should draw up a budget for 2009.

"More importantly however, they should remain within the confines of this budget and become proactive in seeing where they could be saving money." - Sapa

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