Money is a tender point for many people.

CAPE TOWN - As the so-called silly season approaches, many South Africans throw caution and their budget out the window to enjoy the annual extravagant holiday activities and sprees. Splurging on unnecessary "summer essentials" and gifts or flashy vacations can, however, lead to a financial hangover in January, warns Lizl Budhram, the head of advice at Old Mutual Personal Finance.

Although it’s important to relax and enjoy yourself at the end of a demanding year, this shouldn’t result in unnecessary debt and a compromised lifestyle in 2018. “It’s possible to find a balance between enjoying your year-end break and maintaining financial health. The key is to focus on having quality time and meaningful experiences instead of expensive luxuries.”
She offers the following tips to avoid a money hangover in 2018: