The first month of the new year will be long for many South Africans. Not only will January bring on a money hangover from December, it will also be almost five weeks long because it begins on a Tuesday. After the free-spending festive season, many people will find they have ‘month left over at the end of their money’, especially if their December salary was paid in earlier than usual.
Lizl Budhram, Head of Advice at Old Mutual Personal Finance, says there’s hope for those who take action in December to avoid the money stress of January.
“Many South Africans experience the stress that comes with the new year after having made poor financial decisions in the festive season. However, too few of us understand that avoiding this pain comes down to making smart money choices in December, and consistently throughout the year,” says Budhram.
“Remember your relationship with money also affects those around you, in either a good or a bad way. If your money is a source of stress, you may pass that stress on to your loved ones, which is not the ideal way to kick off a new year.”
So if things get tense when it’s time to open your bank statements, it could mean that you’ve fallen into a bad relationship with your money.